Chemours (CC) Posts Quarterly Earnings Results, Beats Estimates By $0.24 EPS

Chemours (NYSE:CC) issued its earnings results on Wednesday. The specialty chemicals company reported $1.19 EPS for the quarter, topping the consensus estimate of $0.95 by $0.24, Bloomberg Earnings reports. Chemours had a net margin of 4.86% and a return on equity of 116.80%. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the previous year, the firm earned $0.08 earnings per share. The firm’s revenue for the quarter was up 19.1% on a year-over-year basis. Chemours updated its FY18 guidance to $4.95-5.60 EPS.

Shares of Chemours (NYSE CC) opened at $49.01 on Thursday. Chemours has a fifty-two week low of $31.48 and a fifty-two week high of $58.08. The company has a market cap of $8,821.17, a price-to-earnings ratio of 33.80, a PEG ratio of 0.61 and a beta of 3.03. The company has a current ratio of 2.19, a quick ratio of 1.63 and a debt-to-equity ratio of 5.07.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, February 15th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Wednesday, February 14th. This is a boost from Chemours’s previous quarterly dividend of $0.03. Chemours’s payout ratio is 8.28%.

Chemours announced that its Board of Directors has approved a share buyback plan on Friday, December 1st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the specialty chemicals company to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Several brokerages recently commented on CC. Barclays reaffirmed a “buy” rating and issued a $60.00 target price on shares of Chemours in a research note on Wednesday, December 6th. Zacks Investment Research downgraded shares of Chemours from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. Goldman Sachs Group downgraded shares of Chemours from a “buy” rating to a “neutral” rating and set a $55.00 target price on the stock. in a research note on Wednesday, December 6th. Morgan Stanley began coverage on shares of Chemours in a research note on Tuesday, January 30th. They issued an “equal weight” rating and a $57.50 target price on the stock. Finally, UBS Group lifted their target price on shares of Chemours from $50.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Chemours presently has a consensus rating of “Buy” and a consensus price target of $57.85.

In related news, insider Christian W. Siemer sold 15,088 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $47.37, for a total value of $714,718.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.14% of the company’s stock.

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Chemours 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.

Earnings History for Chemours (NYSE:CC)

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