Chemours (NYSE:CC) Posts Quarterly Earnings Results

Chemours (NYSE:CC) issued its quarterly earnings data on Tuesday. The specialty chemicals company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01, Zacks reports. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.37 billion. Chemours had a return on equity of 29.48% and a net margin of 1.34%.

Chemours Trading Down 2.0 %

NYSE CC opened at $17.13 on Thursday. The stock has a market cap of $2.56 billion, a PE ratio of 34.26 and a beta of 1.81. The company’s 50-day moving average price is $18.17 and its 200-day moving average price is $18.94. Chemours has a 12 month low of $15.10 and a 12 month high of $29.83. The company has a current ratio of 1.73, a quick ratio of 0.92 and a debt-to-equity ratio of 6.05.

Chemours Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.84%. The ex-dividend date is Friday, February 28th. Chemours’s dividend payout ratio (DPR) is presently 175.44%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CC. Royal Bank of Canada reaffirmed an “outperform” rating and set a $25.00 price objective on shares of Chemours in a report on Thursday, December 12th. The Goldman Sachs Group lowered their price objective on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Morgan Stanley reduced their target price on shares of Chemours from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. BMO Capital Markets lowered their price target on shares of Chemours from $34.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Mizuho decreased their price objective on Chemours from $22.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Chemours currently has an average rating of “Hold” and a consensus target price of $23.56.

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.