Chemours (NYSE:CC) Announces Quarterly Earnings Results

Chemours (NYSE:CC) issued its earnings results on Monday. The specialty chemicals company reported $0.40 earnings per share for the quarter, topping 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 company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the firm posted $0.64 EPS. The business’s revenue was up .9% compared to the same quarter last year.

Chemours Trading Down 0.8 %

Shares of NYSE CC traded down $0.16 during midday trading on Thursday, hitting $20.56. The stock had a trading volume of 218,004 shares, compared to its average volume of 1,575,780. The company’s 50-day simple moving average is $19.01 and its 200 day simple moving average is $22.13. The firm has a market cap of $3.07 billion, a P/E ratio of 41.46 and a beta of 1.75. Chemours has a fifty-two week low of $15.10 and a fifty-two week high of $32.70. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.89 and a quick ratio of 1.01.

Chemours Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $0.25 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 4.86%. Chemours’s dividend payout ratio (DPR) is currently 200.00%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CC. The Goldman Sachs Group lowered their price objective on Chemours from $29.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, September 3rd. BMO Capital Markets increased their target price on Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. UBS Group decreased their target price on Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Royal Bank of Canada decreased their target price on Chemours from $28.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Morgan Stanley reduced their price objective on Chemours from $30.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Chemours presently has a consensus rating of “Hold” and an average target price 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.