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

The Chemours Company (NYSE:CC) announced a quarterly dividend on Wednesday, October 23rd, NASDAQ reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 5.37%. The ex-dividend date of this dividend is Friday, November 15th.

Chemours has a dividend payout ratio of 39.5% indicating that its dividend is sufficiently covered by earnings. Research 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 Price Performance

Shares of CC stock traded up $0.29 during trading hours on Thursday, reaching $18.61. The company had a trading volume of 1,943,394 shares, compared to its average volume of 1,552,564. The company has a debt-to-equity ratio of 5.45, a quick ratio of 1.01 and a current ratio of 1.89. The stock has a fifty day moving average of $19.00 and a 200-day moving average of $22.68. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of -8.57 and a beta of 1.74. Chemours has a 12-month low of $15.10 and a 12-month high of $32.70.

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

Analyst Ratings Changes

A number of research analysts recently commented on CC shares. Royal Bank of Canada decreased their price objective on Chemours from $35.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, October 11th. Barclays decreased their price objective on Chemours from $22.00 to $21.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 25th. The Goldman Sachs Group decreased 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. JPMorgan Chase & Co. decreased 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. Finally, BMO Capital Markets upped their price objective on Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $25.38.

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.