Chemours (NYSE:CC) Announces 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08, Briefing.com reports. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Chemours had a return on equity of 33.21% and a net margin of 2.16%. The business’s revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.64 earnings per share.

Chemours Price Performance

Shares of NYSE CC opened at $19.88 on Wednesday. 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 firm’s 50-day simple moving average is $18.98 and its 200 day simple moving average is $22.14. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 39.75 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.

Chemours Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.03%. The ex-dividend date of this dividend is Friday, November 15th. Chemours’s payout ratio is presently 200.00%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. UBS Group decreased their target price on shares of Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Morgan Stanley cut their target price on Chemours from $30.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. cut their price objective on shares of Chemours from $25.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Royal Bank of Canada cut their price target on shares of Chemours from $35.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, October 11th. Finally, Barclays upped their target price on Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $25.25.

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.