Chemours Co (NYSE:CC) – Equities researchers at Jefferies Financial Group lowered their Q2 2019 EPS estimates for shares of Chemours in a report issued on Tuesday, June 25th, Zacks Investment Research reports. Jefferies Financial Group analyst L. Alexander now expects that the specialty chemicals company will earn $0.94 per share for the quarter, down from their prior estimate of $1.01. Jefferies Financial Group has a “Buy” rating and a $30.00 price objective on the stock. Jefferies Financial Group also issued estimates for Chemours’ Q3 2019 earnings at $1.17 EPS, Q4 2019 earnings at $0.96 EPS and FY2022 earnings at $6.70 EPS.
Chemours (NYSE:CC) last posted its quarterly earnings results on Thursday, May 2nd. The specialty chemicals company reported $0.63 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.30). The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Chemours had a return on equity of 87.75% and a net margin of 12.60%. The business’s quarterly revenue was down 20.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.41 earnings per share.
Chemours stock traded down $0.34 during midday trading on Thursday, hitting $18.81. 2,397,000 shares of the stock were exchanged, compared to its average volume of 2,189,400. Chemours has a fifty-two week low of $18.74 and a fifty-two week high of $48.97. The firm has a market cap of $3.14 billion, a PE ratio of 3.32, a price-to-earnings-growth ratio of 0.32 and a beta of 2.50. The stock’s 50-day moving average price is $22.41. The company has a debt-to-equity ratio of 5.18, a current ratio of 1.81 and a quick ratio of 1.04.
In other news, Director Bradley J. Bell bought 5,000 shares of Chemours stock in a transaction on Thursday, May 16th. The shares were bought at an average cost of $24.06 per share, for a total transaction of $120,300.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Mark P. Vergnano bought 44,000 shares of Chemours stock in a transaction on Monday, June 10th. The stock was purchased at an average price of $23.17 per share, for a total transaction of $1,019,480.00. Following the completion of the acquisition, the chief executive officer now owns 116,600 shares in the company, valued at approximately $2,701,622. The disclosure for this purchase can be found here. Insiders purchased a total of 55,500 shares of company stock worth $1,289,670 over the last quarter. Insiders own 2.34% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in CC. Vanguard Group Inc increased its stake in Chemours by 0.3% in the 3rd quarter. Vanguard Group Inc now owns 18,119,103 shares of the specialty chemicals company’s stock worth $714,617,000 after purchasing an additional 56,773 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Chemours by 6.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 10,405 shares of the specialty chemicals company’s stock valued at $294,000 after buying an additional 667 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its stake in shares of Chemours by 17.0% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 15,712 shares of the specialty chemicals company’s stock valued at $443,000 after buying an additional 2,285 shares in the last quarter. FDx Advisors Inc. purchased a new position in shares of Chemours during the 4th quarter valued at $340,000. Finally, New York State Common Retirement Fund lifted its stake in shares of Chemours by 5.6% during the 4th quarter. New York State Common Retirement Fund now owns 834,412 shares of the specialty chemicals company’s stock valued at $23,547,000 after buying an additional 44,042 shares in the last quarter. Institutional investors own 80.36% of the company’s stock.
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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