The Chemours Company (NYSE:CC) Declares $0.25 Quarterly Dividend

The Chemours Company (NYSE:CC) declared a quarterly dividend on Tuesday, February 18th,Wall Street Journal reports. Shareholders of record on Friday, February 28th will be paid a dividend of 0.25 per share by the specialty chemicals company on Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 5.72%. The ex-dividend date is Friday, February 28th.

Chemours has a dividend payout ratio of 33.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Chemours to earn $2.08 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 48.1%.

Chemours Trading Up 3.9 %

CC traded up $0.66 during mid-day trading on Tuesday, reaching $17.49. The stock had a trading volume of 2,760,818 shares, compared to its average volume of 1,735,917. The stock has a market capitalization of $2.61 billion, a P/E ratio of 34.98 and a beta of 1.81. The company has a debt-to-equity ratio of 6.05, a quick ratio of 0.92 and a current ratio of 1.73. The firm’s fifty day simple moving average is $18.29 and its two-hundred day simple moving average is $18.97. Chemours has a 52 week low of $15.10 and a 52 week high of $29.83.

Chemours (NYSE:CC) last posted its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. Chemours had a return on equity of 29.48% and a net margin of 1.34%. On average, equities analysts predict that Chemours will post 1.21 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on CC. Truist Financial began coverage on Chemours in a research note on Tuesday, January 28th. They issued a “buy” rating and a $27.00 price target on the stock. Mizuho lowered their target price on Chemours from $22.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. The Goldman Sachs Group lowered their target price on Chemours from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $25.00 target price on shares of Chemours in a research report on Thursday, December 12th. Finally, Barclays lifted their target price on Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Chemours presently has a consensus rating of “Hold” and a consensus target price of $24.11.

Chemours Company Profile

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through three segments: Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.