Analysts expect that Chemours Co (NYSE:CC) will post earnings per share of $1.04 for the current quarter, Zacks reports. Two analysts have provided estimates for Chemours’ earnings, with the lowest EPS estimate coming in at $0.96 and the highest estimate coming in at $1.13. Chemours posted earnings of $1.19 per share during the same quarter last year, which would suggest a negative year over year growth rate of 12.6%. The firm is expected to issue its next earnings report on Wednesday, February 13th.
According to Zacks, analysts expect that Chemours will report full-year earnings of $5.67 per share for the current fiscal year, with EPS estimates ranging from $5.57 to $5.80. For the next financial year, analysts forecast that the firm will report earnings of $5.48 per share, with EPS estimates ranging from $4.69 to $6.00. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that follow Chemours.
Chemours (NYSE:CC) last posted its quarterly earnings data on Thursday, November 1st. The specialty chemicals company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.42 by $0.07. Chemours had a net margin of 16.02% and a return on equity of 106.98%. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the firm posted $1.12 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year.
A number of equities research analysts recently commented on the company. Zacks Investment Research raised Chemours from a “sell” rating to a “hold” rating in a report on Tuesday, December 11th. SunTrust Banks decreased their target price on Chemours to $38.00 and set a “hold” rating for the company in a report on Monday, November 5th. Susquehanna Bancshares decreased their target price on Chemours from $65.00 to $44.00 and set a “positive” rating for the company in a report on Monday, November 5th. BMO Capital Markets decreased their target price on Chemours from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Monday, November 5th. They noted that the move was a valuation call. Finally, Citigroup downgraded Chemours from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $44.00 to $38.00 in a report on Friday, November 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $50.63.
In related news, Director Richard H. Brown purchased 10,000 shares of the firm’s stock in a transaction on Monday, December 3rd. The stock was bought at an average cost of $28.60 per share, with a total value of $286,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.75% of the company’s stock.
Several institutional investors have recently bought and sold shares of CC. Trilogy Capital Inc. purchased a new stake in shares of Chemours in the third quarter valued at approximately $179,000. Point72 Hong Kong Ltd increased its position in shares of Chemours by 1,510.8% during the third quarter. Point72 Hong Kong Ltd now owns 4,639 shares of the specialty chemicals company’s stock worth $183,000 after purchasing an additional 4,351 shares in the last quarter. Signition LP purchased a new stake in shares of Chemours during the third quarter worth approximately $232,000. Hartford Financial Management Inc. purchased a new stake in shares of Chemours during the second quarter worth approximately $266,000. Finally, First American Bank purchased a new stake in shares of Chemours during the third quarter worth approximately $268,000. Institutional investors and hedge funds own 78.47% of the company’s stock.
Shares of Chemours stock traded up $0.02 on Wednesday, reaching $25.67. 16,780 shares of the stock were exchanged, compared to its average volume of 2,493,592. The company has a quick ratio of 1.39, a current ratio of 2.03 and a debt-to-equity ratio of 3.48. Chemours has a twelve month low of $25.17 and a twelve month high of $54.62. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of 6.72, a price-to-earnings-growth ratio of 0.29 and a beta of 2.68.
The business also recently declared a quarterly dividend, which was paid on Friday, December 14th. Shareholders of record on Friday, November 16th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend was Thursday, November 15th. Chemours’s payout ratio is presently 26.18%.
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, Fluoroproducts, and Chemical Solutions. The Titanium Technologies segment manufactures and sells titanium dioxide under the Ti-Pure and BaiMax brands for various applications in architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride window profiles, laminate papers used for furniture and building materials, and coated papers and paperboards used for packaging.
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