Chemours (NYSE:CC) Posts Earnings Results, Beats Estimates By $0.08 EPS

Chemours (NYSE:CC) released its quarterly earnings results on Monday. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08, Briefing.com reports. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Chemours had a net margin of 2.16% and a return on equity of 33.21%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 EPS.

Chemours Stock Performance

NYSE:CC traded down $0.30 during mid-day trading on Tuesday, reaching $20.28. The stock had a trading volume of 871,820 shares, compared to its average volume of 1,569,317. The company has a debt-to-equity ratio of 5.45, a quick ratio of 1.01 and a current ratio of 1.89. The business has a 50 day simple moving average of $18.97 and a 200 day simple moving average of $22.19. Chemours has a twelve month low of $15.10 and a twelve month high of $32.70. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of 40.18 and a beta of 1.75.

Chemours Announces Dividend

The company also recently declared 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. The ex-dividend date is Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 4.93%. Chemours’s dividend payout ratio is currently 200.00%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. UBS Group dropped their target price on shares of Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. BMO Capital Markets lifted their price target on Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Barclays raised their price objective on Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday. Morgan Stanley dropped their target price on shares of Chemours from $30.00 to $25.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, Royal Bank of Canada decreased their price target on shares of Chemours from $35.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, October 11th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $25.25.

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.