The Chemours (NYSE:CC) Releases Quarterly Earnings Results, Beats Estimates By $0.08 EPS


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The Chemours (NYSE:CC) issued its earnings results on Sunday. The specialty chemicals company reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.08, MarketWatch Earnings reports. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.40 billion. The Chemours had a negative net margin of 2.35% and a positive return on equity of 46.27%. The Chemours’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the business posted $0.71 EPS.

Shares of CC traded up $0.28 during midday trading on Tuesday, hitting $31.29. The company’s stock had a trading volume of 19,524 shares, compared to its average volume of 1,456,575. The company has a quick ratio of 1.23, a current ratio of 1.99 and a debt-to-equity ratio of 5.54. The Chemours has a one year low of $10.29 and a one year high of $32.21. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of -43.07 and a beta of 2.30. The company’s fifty day simple moving average is $28.53 and its two-hundred day simple moving average is $26.06.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Monday, May 17th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, May 14th. This represents a $1.00 annualized dividend and a yield of 3.20%. The Chemours’s dividend payout ratio is currently 39.84%.

Several research analysts have recently commented on the company. Royal Bank of Canada upgraded The Chemours from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $27.00 to $35.00 in a research note on Friday, January 8th. BMO Capital Markets lifted their target price on shares of The Chemours from $33.00 to $38.00 in a report on Tuesday, February 16th. Morgan Stanley raised their price objective on shares of The Chemours from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 16th. Finally, Citigroup upped their target price on The Chemours from $27.00 to $29.00 in a research report on Wednesday, February 17th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The Chemours has an average rating of “Hold” and an average target price of $26.67.

About The Chemours

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through four segments: Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials, and Chemical Solutions. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure and BaiMax brands for delivering whiteness, brightness, opacity, and protection in various of applications.

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Earnings History for The Chemours (NYSE:CC)

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