Chemours (NYSE:CC) Issues Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Chemours (NYSE:CC) announced its earnings results on Thursday. The specialty chemicals company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.09, MarketWatch Earnings reports. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.08 billion. Chemours had a negative net margin of 2.28% and a positive return on equity of 46.11%.

Chemours stock traded up $0.53 during mid-day trading on Friday, reaching $18.53. 2,800,605 shares of the company’s stock traded hands, compared to its average volume of 1,468,352. The company has a market cap of $3.04 billion, a price-to-earnings ratio of -25.74 and a beta of 2.44. The stock has a 50 day moving average of $15.99 and a two-hundred day moving average of $13.88. The company has a quick ratio of 1.10, a current ratio of 1.93 and a debt-to-equity ratio of 6.42. Chemours has a 12-month low of $7.02 and a 12-month high of $20.23.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 17th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 5.40%. The ex-dividend date is Friday, August 14th. Chemours’s payout ratio is 39.84%.

In other news, COO Mark Newman acquired 2,500 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were acquired at an average price of $11.62 per share, for a total transaction of $29,050.00. Following the completion of the transaction, the chief operating officer now directly owns 132,344 shares of the company’s stock, valued at approximately $1,537,837.28. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.72% of the stock is owned by corporate insiders.

Several analysts recently issued reports on the stock. Susquehanna Bancshares cut their target price on shares of Chemours from $23.00 to $17.00 in a research report on Tuesday, April 14th. ValuEngine downgraded shares of Chemours from a “hold” rating to a “sell” rating in a report on Wednesday, July 15th. Cfra lowered their price target on shares of Chemours from $21.00 to $11.00 and set a “hold” rating on the stock in a report on Friday, April 3rd. UBS Group lifted their price target on shares of Chemours from $12.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Finally, Citigroup lowered their price target on shares of Chemours from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, April 9th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. Chemours presently has an average rating of “Hold” and an average target price of $14.30.

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, 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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Earnings History for Chemours (NYSE:CC)

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