Zacks Research Weighs in on The Chemours Company’s Q3 2024 Earnings (NYSE:CC)

The Chemours Company (NYSE:CC) – Stock analysts at Zacks Research lowered their Q3 2024 earnings estimates for Chemours in a research report issued on Tuesday, April 9th. Zacks Research analyst M. Agrawal now forecasts that the specialty chemicals company will post earnings per share of $0.65 for the quarter, down from their previous forecast of $0.83. The consensus estimate for Chemours’ current full-year earnings is $2.55 per share. Zacks Research also issued estimates for Chemours’ Q4 2024 earnings at $0.40 EPS, Q3 2025 earnings at $0.81 EPS and FY2026 earnings at $3.58 EPS.

Several other research firms have also commented on CC. UBS Group raised their price objective on shares of Chemours from $21.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. BMO Capital Markets upgraded shares of Chemours from an “underperform” rating to an “outperform” rating and lifted their price target for the stock from $19.00 to $34.00 in a research note on Tuesday. Finally, Barclays cut their price objective on shares of Chemours from $32.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 2nd. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $30.89.

Chemours Trading Down 2.3 %

NYSE CC opened at $27.50 on Wednesday. The firm has a 50 day simple moving average of $27.43 and a 200-day simple moving average of $27.87. The company has a debt-to-equity ratio of 5.40, a quick ratio of 1.00 and a current ratio of 1.54. Chemours has a one year low of $15.10 and a one year high of $39.05. The firm has a market cap of $4.09 billion, a price-to-earnings ratio of -17.74 and a beta of 2.00.

Chemours Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, February 26th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date was Friday, February 23rd. Chemours’s dividend payout ratio is presently -64.52%.

Hedge Funds Weigh In On Chemours

Institutional investors and hedge funds have recently bought and sold shares of the stock. Alaska Permanent Fund Corp lifted its stake in Chemours by 14.0% during the first quarter. Alaska Permanent Fund Corp now owns 84,918 shares of the specialty chemicals company’s stock worth $2,230,000 after purchasing an additional 10,420 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Chemours in the fourth quarter valued at $255,000. Ables Iannone Moore & Associates Inc. bought a new stake in Chemours in the fourth quarter valued at $99,000. Neo Ivy Capital Management bought a new stake in Chemours in the fourth quarter valued at $40,000. Finally, Quarry LP lifted its stake in Chemours by 106.8% in the fourth quarter. Quarry LP now owns 1,700 shares of the specialty chemicals company’s stock valued at $54,000 after buying an additional 26,700 shares during the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

About Chemours

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, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.