The Chemours Company (NYSE:CC – Get Free Report) announced a quarterly dividend on Tuesday, February 18th,Wall Street Journal reports. Stockholders of record on Friday, February 28th will be paid a dividend of 0.25 per share by the specialty chemicals company on Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.72%. The ex-dividend date of this dividend is Friday, February 28th.
Chemours has a payout ratio of 33.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Chemours to earn $2.08 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 48.1%.
Chemours Price Performance
Shares of CC stock traded up $0.66 during trading on Tuesday, hitting $17.49. The company had a trading volume of 2,760,818 shares, compared to its average volume of 1,735,917. The company has a debt-to-equity ratio of 6.05, a quick ratio of 0.92 and a current ratio of 1.73. The firm has a market capitalization of $2.61 billion, a P/E ratio of 34.98 and a beta of 1.81. The stock’s 50-day moving average price is $18.29 and its 200 day moving average price is $18.97. Chemours has a one year low of $15.10 and a one year high of $29.83.
Wall Street Analysts Forecast Growth
CC has been the subject of several recent research reports. Morgan Stanley cut their price target on Chemours from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Truist Financial initiated coverage on Chemours in a research note on Tuesday, January 28th. They issued a “buy” rating and a $27.00 price target for the company. Mizuho cut their price target on Chemours from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. The Goldman Sachs Group lowered their price objective on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Finally, Barclays boosted their price objective on shares of Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Chemours presently has an average rating of “Hold” and a consensus target price of $24.11.
Get Our Latest Stock Report on Chemours
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.
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