The Chemours (NYSE:CC) Posts Quarterly Earnings Results, Beats Estimates By $0.08 EPS


Share on StockTwits

The Chemours (NYSE:CC) posted its earnings results on Sunday. The specialty chemicals company reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.08, MarketWatch Earnings reports. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.40 billion. The Chemours had a negative net margin of 2.35% and a positive return on equity of 46.27%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.71 EPS.

Shares of NYSE:CC traded up $0.52 during trading on Tuesday, reaching $31.53. 1,320,935 shares of the company’s stock traded hands, compared to its average volume of 1,455,070. The company has a 50 day moving average of $28.58 and a 200-day moving average of $26.10. The stock has a market capitalization of $5.21 billion, a P/E ratio of -43.79 and a beta of 2.30. The Chemours has a 12 month low of $10.62 and a 12 month high of $32.21. The company has a debt-to-equity ratio of 5.54, a current ratio of 1.99 and a quick ratio of 1.23.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Investors of record on Monday, May 17th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend is Friday, May 14th. The Chemours’s dividend payout ratio is presently 39.84%.

Several research firms recently weighed in on CC. Citigroup lifted their target price on shares of The Chemours from $27.00 to $29.00 in a report on Wednesday, February 17th. Royal Bank of Canada raised shares of The Chemours from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $27.00 to $35.00 in a research note on Friday, January 8th. Morgan Stanley lifted their price target on shares of The Chemours from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 16th. Finally, BMO Capital Markets boosted their target price on shares of The Chemours from $33.00 to $38.00 in a research report on Tuesday, February 16th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $26.67.

The 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 four segments: Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials, and Chemical Solutions. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure and BaiMax brands for delivering whiteness, brightness, opacity, and protection in various of applications.

Featured Story: Momentum Indicator: Relative Strength Index

Earnings History for The Chemours (NYSE:CC)

Receive News & Ratings for The Chemours Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Chemours and related companies with MarketBeat.com's FREE daily email newsletter.