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

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

Chemours Trading Down 0.8 %

Shares of NYSE CC traded down $0.16 during mid-day trading on Thursday, hitting $20.56. 218,004 shares of the company traded hands, compared to its average volume of 1,575,780. Chemours has a 1 year low of $15.10 and a 1 year high of $32.70. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 41.46 and a beta of 1.75. The company has a quick ratio of 1.01, a current ratio of 1.89 and a debt-to-equity ratio of 5.45. The business has a 50 day moving average of $19.01 and a two-hundred day moving average of $22.13.

Chemours Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend yield of 4.86%. The ex-dividend date is Friday, November 15th. Chemours’s dividend payout ratio is 200.00%.

Analyst Ratings Changes

CC has been the subject of several recent research reports. Morgan Stanley decreased their price target on Chemours from $30.00 to $25.00 and set an “equal weight” rating for the company in a report on Tuesday. Royal Bank of Canada cut their price target on Chemours from $28.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday. The Goldman Sachs Group cut their price target on Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, September 3rd. Barclays lifted their price target on Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, BMO Capital Markets lifted their price objective on Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $24.88.

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.