Brokers Offer Predictions for Chemours Company (The)’s FY2018 Earnings (CC)

Chemours Company (The) (NYSE:CC) – Investment analysts at Jefferies Group raised their FY2018 EPS estimates for shares of Chemours Company (The) in a research report issued to clients and investors on Monday. Jefferies Group analyst L. Alexander now forecasts that the specialty chemicals company will earn $5.35 per share for the year, up from their prior forecast of $5.15. Jefferies Group currently has a “Buy” rating and a $60.00 target price on the stock. Jefferies Group also issued estimates for Chemours Company (The)’s FY2019 earnings at $5.75 EPS and FY2020 earnings at $5.85 EPS.

Chemours Company (The) (NYSE:CC) last posted its earnings results on Thursday, November 2nd. The specialty chemicals company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.11. The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Chemours Company (The) had a return on equity of 116.80% and a net margin of 4.86%. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the business posted $0.61 earnings per share.

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A number of other research analysts have also commented on CC. BidaskClub lowered Chemours Company (The) from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Barclays PLC raised their price target on Chemours Company (The) from $55.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, November 6th. Zacks Investment Research raised Chemours Company (The) from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Thursday, November 9th. Argus reissued a “buy” rating and set a $55.00 price target (up from $50.00) on shares of Chemours Company (The) in a report on Thursday, August 10th. Finally, UBS AG raised Chemours Company (The) from a “sell” rating to a “neutral” rating and raised their price target for the company from $36.00 to $50.00 in a report on Monday, August 7th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $53.89.

Shares of Chemours Company (NYSE:CC) traded up $1.90 on Tuesday, hitting $51.55. The stock had a trading volume of 2,584,272 shares, compared to its average volume of 2,722,729. The firm has a market capitalization of $9,530.00 and a price-to-earnings ratio of 17.94. The company has a debt-to-equity ratio of 5.07, a current ratio of 2.19 and a quick ratio of 1.63. Chemours Company has a 52 week low of $20.76 and a 52 week high of $58.08.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Monday, November 20th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date is Friday, November 17th. Chemours Company (The)’s payout ratio is currently 8.28%.

In related news, insider E Bryan Snell sold 11,878 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $53.25, for a total value of $632,503.50. Following the completion of the transaction, the insider now owns 63,063 shares in the company, valued at approximately $3,358,104.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP David C. Shelton sold 5,908 shares of the stock in a transaction on Friday, October 13th. The shares were sold at an average price of $56.01, for a total value of $330,907.08. Following the completion of the transaction, the senior vice president now owns 47,356 shares of the company’s stock, valued at approximately $2,652,409.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,520 shares of company stock worth $4,008,293. 1.14% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its position in shares of Chemours Company (The) by 6.1% in the 2nd quarter. FMR LLC now owns 15,830,411 shares of the specialty chemicals company’s stock valued at $600,289,000 after purchasing an additional 905,038 shares during the period. Renaissance Technologies LLC boosted its position in shares of Chemours Company (The) by 10.3% in the 2nd quarter. Renaissance Technologies LLC now owns 3,342,200 shares of the specialty chemicals company’s stock valued at $126,736,000 after purchasing an additional 310,800 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Chemours Company (The) by 7.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,371,909 shares of the specialty chemicals company’s stock valued at $120,042,000 after purchasing an additional 173,523 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Chemours Company (The) by 11.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,201,287 shares of the specialty chemicals company’s stock valued at $110,969,000 after purchasing an additional 234,705 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its position in shares of Chemours Company (The) by 126.5% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,789,112 shares of the specialty chemicals company’s stock valued at $67,843,000 after purchasing an additional 999,380 shares during the period. Institutional investors and hedge funds own 72.90% of the company’s stock.

Chemours Company (The) 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 Company (The) (NYSE:CC)

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