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

The Chemours Company (NYSE:CC) declared a quarterly dividend on Wednesday, October 23rd, NASDAQ reports. Investors of record on Friday, November 15th will be given a dividend of 0.25 per share by the specialty chemicals company on Monday, December 16th. This represents a $1.00 annualized dividend and a yield of 5.37%. The ex-dividend date is Friday, November 15th.

Chemours has a payout ratio of 39.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Chemours to earn $2.20 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 45.5%.

Chemours Stock Up 1.6 %

NYSE:CC traded up $0.29 during trading hours on Thursday, hitting $18.61. The company’s stock had a trading volume of 1,943,394 shares, compared to its average volume of 1,552,564. The stock has a fifty day moving average of $19.00 and a 200-day moving average of $22.68. The stock has a market capitalization of $2.77 billion, a P/E ratio of -8.57 and a beta of 1.74. Chemours has a 52-week low of $15.10 and a 52-week high of $32.70. The company has a current ratio of 1.89, a quick ratio of 1.01 and a debt-to-equity ratio of 5.45.

Chemours (NYSE:CC) last issued its quarterly earnings data on Thursday, August 1st. The specialty chemicals company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.19). The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Chemours had a return on equity of 33.21% and a net margin of 2.16%. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.10 EPS. On average, equities analysts forecast that Chemours will post 1.32 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CC. JPMorgan Chase & Co. dropped their price objective on Chemours from $25.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. The Goldman Sachs Group dropped 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. Barclays decreased their target price on shares of Chemours from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 25th. UBS Group decreased their target price on shares of Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Finally, BMO Capital Markets increased their target price on shares of Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Chemours presently has an average rating of “Hold” and a consensus target price of $25.38.

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.