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

The Chemours Company (NYSE:CC) declared a quarterly dividend on Wednesday, July 24th, Wall Street Journal reports. Investors of record on Thursday, August 15th will be given a dividend of 0.25 per share by the specialty chemicals company on Friday, September 13th. This represents a $1.00 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend is Thursday, August 15th.

Chemours has a dividend payout ratio of 29.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Chemours to earn $2.83 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 35.3%.

Chemours Stock Up 1.7 %

NYSE:CC traded up $0.40 on Thursday, hitting $23.89. 1,248,004 shares of the company’s stock were exchanged, compared to its average volume of 1,593,448. The firm has a 50-day moving average price of $24.43 and a 200-day moving average price of $26.72. Chemours has a 52 week low of $15.10 and a 52 week high of $38.80. The company has a debt-to-equity ratio of 5.26, a current ratio of 1.61 and a quick ratio of 0.99. The company has a market cap of $3.56 billion, a P/E ratio of -11.01 and a beta of 1.80.

Chemours (NYSE:CC) last released its earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.07. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.35 billion. Chemours had a positive return on equity of 46.67% and a negative net margin of 5.51%. Chemours’s revenue was down 12.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.98 earnings per share. As a group, analysts expect that Chemours will post 1.81 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CC shares. UBS Group upgraded shares of Chemours from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $28.00 to $30.00 in a report on Tuesday, July 9th. Mizuho initiated coverage on shares of Chemours in a research note on Friday, June 7th. They set a “neutral” rating and a $25.00 price objective on the stock. Barclays reduced their price target on Chemours from $32.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, April 2nd. Finally, BMO Capital Markets upgraded Chemours from an “underperform” rating to an “outperform” rating and upped their price objective for the company from $19.00 to $34.00 in a research note on Tuesday, April 9th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Chemours presently has a consensus rating of “Hold” and an average price target of $30.38.

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.