Chemours (NYSE:CC) Announces Earnings Results

Chemours (NYSE:CC) released its earnings results on Monday. The specialty chemicals company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08, Briefing.com reports. Chemours had a net margin of 2.16% and a return on equity of 33.21%. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the previous year, the business earned $0.64 EPS. The business’s quarterly revenue was up .9% compared to the same quarter last year.

Chemours Stock Up 4.3 %

CC traded up $0.85 during trading on Wednesday, hitting $20.73. The company had a trading volume of 3,020,280 shares, compared to its average volume of 1,582,095. The company has a market capitalization of $3.09 billion, a PE ratio of 40.66 and a beta of 1.75. Chemours has a one year low of $15.10 and a one year high of $32.70. The firm’s 50-day moving average price is $18.98 and its 200 day moving average price is $22.14. The company has a quick ratio of 1.01, a current ratio of 1.89 and a debt-to-equity ratio of 5.45.

Chemours Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a $0.25 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 4.82%. Chemours’s dividend payout ratio is currently 200.00%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. The Goldman Sachs Group lowered their target price on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, September 3rd. BMO Capital Markets lifted their target price on shares of Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. JPMorgan Chase & Co. lowered their target price on shares of Chemours from $25.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Barclays lifted their target price on shares of Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Royal Bank of Canada decreased their price target on shares of Chemours from $28.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Chemours has a consensus rating of “Hold” and a consensus price target of $24.88.

About Chemours

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.