The Chemours Company Declares Quarterly Dividend of $0.25 (NYSE:CC)

The Chemours Company (NYSE:CC) declared a quarterly dividend on Wednesday, October 23rd, NASDAQ reports. Investors of record on Friday, November 15th will be given 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 yield of 5.37%. The ex-dividend date of this dividend is Friday, November 15th.

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

CC stock opened at $18.61 on Friday. The stock has a market capitalization of $2.77 billion, a PE ratio of -8.58 and a beta of 1.74. The company has a fifty day moving average of $18.99 and a 200-day moving average of $22.65. The company has a debt-to-equity ratio of 5.45, a quick ratio of 1.01 and a current ratio of 1.89. Chemours has a one year low of $15.10 and a one year high of $32.70.

Chemours (NYSE:CC) last announced its quarterly earnings data on Thursday, August 1st. The specialty chemicals company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.19). Chemours had a net margin of 2.16% and a return on equity of 33.21%. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the prior year, the firm posted $1.10 EPS. Chemours’s revenue for the quarter was down 6.4% compared to the same quarter last year. As a group, analysts expect that Chemours will post 1.32 EPS for the current year.

Analysts Set New Price Targets

CC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price objective on Chemours from $25.00 to $18.00 and set a “neutral” rating on the stock in a 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. UBS Group decreased their price objective on shares of Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. BMO Capital Markets increased their target price on shares of Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Finally, Barclays reduced their price target on shares of Chemours from $22.00 to $21.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 25th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Chemours presently has a consensus rating of “Hold” and an average 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.