Brokerages Expect Chemours Co (CC) to Post $1.07 Earnings Per Share

Analysts expect that Chemours Co (NYSE:CC) will announce earnings per share of $1.07 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Chemours’ earnings, with the highest EPS estimate coming in at $1.13 and the lowest estimate coming in at $0.96. Chemours posted earnings per share of $1.19 during the same quarter last year, which would suggest a negative year over year growth rate of 10.1%. The firm is scheduled to report its next quarterly earnings report on Wednesday, February 13th.

On average, analysts expect that Chemours will report full year earnings of $5.69 per share for the current financial year, with EPS estimates ranging from $5.57 to $5.80. For the next fiscal year, analysts expect that the company will report earnings of $5.57 per share, with EPS estimates ranging from $5.04 to $6.00. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Chemours.

Chemours (NYSE:CC) last released its earnings results on Thursday, November 1st. The specialty chemicals company reported $1.49 EPS for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.07. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Chemours had a return on equity of 106.98% and a net margin of 16.02%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.12 EPS.

A number of equities research analysts recently issued reports on CC shares. Morgan Stanley lowered their price objective on Chemours from $57.50 to $48.00 and set a “hold” rating on the stock in a research note on Tuesday, July 17th. Royal Bank of Canada started coverage on Chemours in a research note on Wednesday, July 18th. They issued an “outperform” rating and a $60.00 price objective on the stock. SunTrust Banks started coverage on Chemours in a research note on Tuesday, July 31st. They issued a “hold” rating and a $51.00 price objective on the stock. ValuEngine cut Chemours from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 2nd. Finally, BMO Capital Markets lowered their price objective on Chemours from $70.00 to $68.00 and set an “outperform” rating on the stock in a research note on Monday, August 6th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $52.60.

Several institutional investors and hedge funds have recently made changes to their positions in CC. FMR LLC increased its position in shares of Chemours by 10.5% during the third quarter. FMR LLC now owns 26,450,684 shares of the specialty chemicals company’s stock valued at $1,043,214,000 after buying an additional 2,523,555 shares during the period. Iridian Asset Management LLC CT increased its position in shares of Chemours by 34.9% during the third quarter. Iridian Asset Management LLC CT now owns 9,420,415 shares of the specialty chemicals company’s stock valued at $371,541,000 after buying an additional 2,439,293 shares during the period. LSV Asset Management increased its position in shares of Chemours by 588.7% during the second quarter. LSV Asset Management now owns 1,607,336 shares of the specialty chemicals company’s stock valued at $71,301,000 after buying an additional 1,373,936 shares during the period. Marshall Wace LLP increased its position in shares of Chemours by 926.4% during the second quarter. Marshall Wace LLP now owns 834,938 shares of the specialty chemicals company’s stock valued at $37,038,000 after buying an additional 753,593 shares during the period. Finally, Mackay Shields LLC bought a new stake in shares of Chemours during the second quarter valued at about $25,434,000. Hedge funds and other institutional investors own 76.33% of the company’s stock.

Chemours stock traded down $0.81 during midday trading on Friday, reaching $32.09. The stock had a trading volume of 1,478,134 shares, compared to its average volume of 1,699,240. Chemours has a 12 month low of $30.92 and a 12 month high of $54.62. The stock has a market capitalization of $5.81 billion, a P/E ratio of 8.40, a P/E/G ratio of 0.38 and a beta of 2.74. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.39 and a current ratio of 2.03.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 16th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Thursday, November 15th. Chemours’s dividend payout ratio is presently 26.18%.

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 three segments: Titanium Technologies, Fluoroproducts, and Chemical Solutions. The Titanium Technologies segment manufactures and sells titanium dioxide under the Ti-Pure and BaiMax brands for various applications in architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride window profiles, laminate papers used for furniture and building materials, and coated papers and paperboards used for packaging.

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