Chemours Company (The) (CC) Issues Quarterly Earnings Results, Beats Estimates By $0.17 EPS
Chemours Company (The) (NYSE:CC) released its quarterly earnings data on Thursday. The specialty chemicals company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.17, Bloomberg Earnings reports. The business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Chemours Company (The) had a return on equity of 122.97% and a net margin of 4.96%. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.61 EPS.
In other Chemours Company (The) news, insider E Bryan Snell sold 10,000 shares of Chemours Company (The) stock in a transaction on Friday, August 11th. The shares were sold at an average price of $46.24, for a total value of $462,400.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP David C. Shelton sold 5,908 shares of Chemours Company (The) stock in a transaction on Friday, October 13th. The stock was sold at an average price of $56.01, for a total transaction of $330,907.08. Following the completion of the transaction, the senior vice president now directly owns 47,356 shares in the company, valued at $2,652,409.56. The disclosure for this sale can be found here. Insiders sold 77,142 shares of company stock worth $3,953,265 over the last ninety days. Corporate insiders own 1.14% of the company’s stock.
Several equities analysts recently issued reports on CC shares. BidaskClub cut Chemours Company (The) from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Zacks Investment Research cut Chemours Company (The) from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 18th. Citigroup Inc. raised Chemours Company (The) from a “neutral” rating to a “buy” rating and upped their price objective for the company from $43.00 to $45.00 in a research report on Wednesday, July 5th. Jefferies Group LLC upped their price objective on Chemours Company (The) to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Finally, Argus reaffirmed a “buy” rating and issued a $55.00 price objective (up from $50.00) on shares of Chemours Company (The) in a research report on Thursday, August 10th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $52.75.
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Chemours Company (The) Company Profile
The Chemours Company is a provider of performance chemicals. The Company operates through three segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Titanium Technologies segment is a producer of titanium dioxide (TiO2). The Fluoroproducts segment is a provider of fluoroproducts, including refrigerants and industrial fluoropolymer resins.
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