Chemours (NYSE:CC) Posts Earnings Results, Beats Estimates By $0.08 EPS

Chemours (NYSE:CC) released its quarterly earnings data on Monday. The specialty chemicals company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08, Briefing.com reports. Chemours had a net margin of 2.16% and a return on equity of 33.21%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The firm’s revenue was up .9% on a year-over-year basis.

Chemours Stock Down 1.5 %

NYSE CC traded down $0.30 on Tuesday, hitting $20.28. 871,820 shares of the stock traded hands, compared to its average volume of 1,569,317. The company has a market capitalization of $3.03 billion, a P/E ratio of 40.18 and a beta of 1.75. The stock has a 50-day moving average of $18.97 and a 200 day moving average of $22.19. The company has a current ratio of 1.89, a quick ratio of 1.01 and a debt-to-equity ratio of 5.45. Chemours has a twelve month low of $15.10 and a twelve month high of $32.70.

Chemours Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.93%. The ex-dividend date is Friday, November 15th. Chemours’s dividend payout ratio is currently 200.00%.

Analyst Ratings Changes

CC has been the topic of several research analyst reports. JPMorgan Chase & Co. decreased their price target on Chemours from $25.00 to $18.00 and set a “neutral” rating on the stock in a research note 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 on the stock in a research report on Friday, October 11th. Morgan Stanley cut their price target on Chemours from $30.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday. The Goldman Sachs Group decreased their price objective on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 3rd. Finally, UBS Group dropped their target price on shares of Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $25.25.

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.