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%.
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.
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