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

Chemours (NYSE:CC) issued its quarterly earnings data on Monday. The specialty chemicals company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.44 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. The company’s revenue was up .9% on a year-over-year basis.

Chemours Stock Up 0.1 %

Chemours stock opened at $20.74 on Thursday. The stock’s fifty day moving average is $19.01 and its two-hundred day moving average is $22.13. The stock has a market cap of $3.10 billion, a PE ratio of 41.46 and a beta of 1.75. Chemours has a 1-year low of $15.10 and a 1-year 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 Announces Dividend

The firm 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 $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.82%. The ex-dividend date of this dividend is Friday, November 15th. Chemours’s dividend payout ratio (DPR) is presently 200.00%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CC. The Goldman Sachs Group dropped their target price on Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, September 3rd. Barclays upped their target price on shares of Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday. BMO Capital Markets boosted their price target 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. UBS Group reduced their price objective 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, 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 research note on Tuesday, August 6th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.