Chemours Co (NYSE:CC) – Research analysts at SunTrust Banks cut their FY2019 earnings estimates for Chemours in a research report issued to clients and investors on Tuesday, November 5th. SunTrust Banks analyst J. Sheehan now anticipates that the specialty chemicals company will post earnings of $2.55 per share for the year, down from their prior estimate of $2.61. SunTrust Banks currently has a “Hold” rating and a $20.00 price target on the stock. SunTrust Banks also issued estimates for Chemours’ Q4 2019 earnings at $0.60 EPS, FY2020 earnings at $3.84 EPS and FY2021 earnings at $4.91 EPS.
Chemours (NYSE:CC) last announced its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.03. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.40 billion. Chemours had a net margin of 7.24% and a return on equity of 58.38%. The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.49 earnings per share.
Other analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Chemours from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. Citigroup lifted their price target on shares of Chemours from $14.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday. TheStreet downgraded shares of Chemours from a “b-” rating to a “c+” rating in a research note on Friday, August 9th. Royal Bank of Canada downgraded shares of Chemours from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $32.00 to $16.00 in a research note on Friday, August 9th. Finally, Argus downgraded shares of Chemours from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $27.14.
NYSE CC traded up $0.04 during trading on Friday, hitting $19.69. The stock had a trading volume of 1,723,974 shares, compared to its average volume of 2,334,854. The company has a debt-to-equity ratio of 5.05, a quick ratio of 1.09 and a current ratio of 1.72. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 3.47, a P/E/G ratio of 0.51 and a beta of 2.57. Chemours has a one year low of $11.71 and a one year high of $41.60. The stock has a 50 day simple moving average of $15.53 and a 200 day simple moving average of $19.91.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.08%. The ex-dividend date of this dividend is Thursday, November 14th. Chemours’s payout ratio is 17.64%.
In other Chemours news, COO Mark Newman acquired 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were bought at an average cost of $16.42 per share, with a total value of $328,400.00. Following the completion of the acquisition, the chief operating officer now directly owns 114,261 shares in the company, valued at approximately $1,876,165.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.34% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Third Point LLC grew its holdings in Chemours by 118.8% in the second quarter. Third Point LLC now owns 4,375,000 shares of the specialty chemicals company’s stock worth $105,000,000 after purchasing an additional 2,375,000 shares during the last quarter. LSV Asset Management lifted its stake in shares of Chemours by 4.5% during the second quarter. LSV Asset Management now owns 3,860,806 shares of the specialty chemicals company’s stock worth $92,659,000 after buying an additional 165,800 shares during the period. Invesco Ltd. lifted its stake in shares of Chemours by 171.4% during the second quarter. Invesco Ltd. now owns 2,466,635 shares of the specialty chemicals company’s stock worth $59,199,000 after buying an additional 1,557,746 shares during the period. M&T Bank Corp lifted its stake in shares of Chemours by 71.6% during the second quarter. M&T Bank Corp now owns 1,158,451 shares of the specialty chemicals company’s stock worth $27,803,000 after buying an additional 483,539 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Chemours by 7.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,088,495 shares of the specialty chemicals company’s stock worth $26,124,000 after acquiring an additional 74,964 shares during the period. 79.88% of the stock is currently owned by institutional investors and hedge funds.
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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