Chemours (CC) Issues FY18 Earnings Guidance

Chemours (NYSE:CC) issued an update on its FY18 earnings guidance on Wednesday morning. The company provided EPS guidance of $4.95-5.60 for the period, compared to the Thomson Reuters consensus EPS estimate of $5.09.

Shares of Chemours (NYSE:CC) traded up $1.37 on Wednesday, hitting $49.01. The company had a trading volume of 1,949,483 shares, compared to its average volume of 1,700,469. The company has a quick ratio of 1.63, a current ratio of 2.19 and a debt-to-equity ratio of 5.07. Chemours has a one year low of $31.48 and a one year high of $58.08. The company has a market capitalization of $8,839.69, a price-to-earnings ratio of 33.80, a P/E/G ratio of 0.61 and a beta of 3.03.

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

Chemours announced that its board has initiated a stock buyback plan on Friday, December 1st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the specialty chemicals company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Several analysts have issued reports on the company. Zacks Investment Research lowered Chemours from a strong-buy rating to a hold rating in a report on Wednesday, October 18th. UBS Group boosted their price target on Chemours from $50.00 to $59.00 and gave the company a neutral rating in a report on Friday, November 3rd. Barclays boosted their price target on Chemours from $55.00 to $58.00 and gave the company an overweight rating in a report on Monday, November 6th. Morgan Stanley assumed coverage on Chemours in a report on Tuesday, January 30th. They set an equal weight rating and a $57.50 price target for the company. Finally, Goldman Sachs Group lowered Chemours from a buy rating to a neutral rating and set a $55.00 price target for the company. in a report on Wednesday, December 6th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Chemours currently has a consensus rating of Buy and a consensus target price of $57.85.

In other news, insider Christian W. Siemer sold 15,088 shares of the company’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $47.37, for a total value of $714,718.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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 and Estimates for Chemours (NYSE:CC)

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