Chemours (NYSE:CC) Issues Quarterly Earnings Results

Chemours (NYSE:CC) announced its earnings results on Monday. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.08, Briefing.com reports. Chemours had a return on equity of 33.21% and a net margin of 2.16%. The business 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 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year.

Chemours Trading Up 0.1 %

Shares of Chemours stock opened at $20.74 on Thursday. The company has a debt-to-equity ratio of 5.45, a quick ratio of 1.01 and a current ratio of 1.89. Chemours has a fifty-two week low of $15.10 and a fifty-two week high of $32.70. The firm has a 50-day simple moving average of $19.01 and a two-hundred day simple moving average of $22.13. The company has a market cap of $3.10 billion, a P/E ratio of 41.46 and a beta of 1.75.

Chemours Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CC. BMO Capital Markets raised their target price on shares of Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. Royal Bank of Canada reduced their price objective on Chemours from $28.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. lowered their target price on Chemours from $25.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. UBS Group cut their price target on Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Morgan Stanley lowered their price objective on shares of Chemours from $30.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Chemours has an average rating of “Hold” and an average price target of $24.88.

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.