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

The Chemours Company (NYSE:CC) declared a quarterly dividend on Wednesday, October 23rd, NASDAQ reports. Stockholders of record on Friday, November 15th will be paid 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 is Friday, November 15th.

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

Shares of Chemours stock traded up $0.29 during trading hours on Thursday, reaching $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 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’s fifty day simple moving average is $19.00 and its two-hundred day simple moving average is $22.68. The company has a market capitalization of $2.77 billion, a P/E ratio of -8.58 and a beta of 1.74. Chemours has a one year low of $15.10 and a one year high of $32.70.

Chemours (NYSE:CC) last issued its quarterly earnings data on Thursday, August 1st. The specialty chemicals company reported $0.38 EPS for the quarter, missing the consensus estimate 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 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 last year, the company earned $1.10 earnings per share. On average, research analysts forecast that Chemours will post 1.32 earnings per share for the current year.

Analyst Ratings Changes

CC has been the topic of several analyst reports. The Goldman Sachs Group cut their price target on shares of 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 target on Chemours from $25.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. UBS Group cut their price objective on Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Royal Bank of Canada decreased their target price on Chemours from $35.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, October 11th. Finally, BMO Capital Markets increased their price target on shares of Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, October 7th. Five 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, Chemours currently has an average rating of “Hold” and a consensus 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.