Wall Street analysts predict that Chemours Co (NYSE:CC) will post earnings of $1.19 per share for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Chemours’ earnings. The highest EPS estimate is $1.21 and the lowest is $1.16. Chemours reported earnings of $0.75 per share in the same quarter last year, which would indicate a positive year over year growth rate of 58.7%. The firm is scheduled to report its next quarterly earnings results on Monday, May 7th.
On average, analysts expect that Chemours will report full-year earnings of $5.16 per share for the current fiscal year, with EPS estimates ranging from $5.10 to $5.25. For the next financial year, analysts forecast that the company will post earnings of $5.82 per share, with EPS estimates ranging from $5.72 to $5.90. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that cover Chemours.
Chemours (NYSE:CC) last released its quarterly earnings data on Wednesday, February 14th. The specialty chemicals company reported $1.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.24. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.55 billion. Chemours had a return on equity of 110.66% and a net margin of 14.48%. The company’s revenue was up 19.1% on a year-over-year basis. During the same quarter last year, the business posted $0.08 EPS.
A number of equities research analysts have recently commented on CC shares. UBS Group raised their target price on Chemours from $50.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. Barclays raised their target price on Chemours from $55.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, November 6th. Morgan Stanley started coverage on Chemours in a research report on Tuesday, January 30th. They set an “equal weight” rating and a $57.50 target price on the stock. Zacks Investment Research cut Chemours from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. Finally, Goldman Sachs Group cut Chemours from a “buy” rating to a “neutral” rating and set a $55.00 target price on the stock. in a research report on Wednesday, December 6th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Chemours has an average rating of “Buy” and a consensus price target of $57.85.
In related news, insider Christian W. Siemer sold 15,088 shares of Chemours stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $47.37, for a total value of $714,718.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.14% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio boosted its holdings in Chemours by 306.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 98,590 shares of the specialty chemicals company’s stock worth $3,739,000 after buying an additional 74,329 shares during the last quarter. Aurora Investment Counsel acquired a new stake in Chemours in the 4th quarter worth about $1,998,000. JPMorgan Chase & Co. lifted its stake in Chemours by 11.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,201,287 shares of the specialty chemicals company’s stock worth $110,969,000 after purchasing an additional 234,705 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Chemours by 30.1% in the 3rd quarter. Wells Fargo & Company MN now owns 266,263 shares of the specialty chemicals company’s stock worth $13,477,000 after purchasing an additional 61,618 shares in the last quarter. Finally, Capital Growth Management LP purchased a new position in Chemours in the 3rd quarter worth approximately $38,970,000. Institutional investors own 77.01% of the company’s stock.
Chemours (NYSE:CC) traded up $1.47 during midday trading on Friday, hitting $50.31. The company’s stock had a trading volume of 256,718 shares, compared to its average volume of 1,719,845. The stock has a market cap of $9,030.00 and a price-to-earnings ratio of 12.74. Chemours has a twelve month low of $32.09 and a twelve month high of $58.08. The company has a debt-to-equity ratio of 4.74, a current ratio of 2.12 and a quick ratio of 1.55.
Chemours announced that its board has initiated a stock buyback program on Friday, December 1st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the specialty chemicals company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, February 15th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.35%. This is a boost from Chemours’s previous quarterly dividend of $0.03. The ex-dividend date is Wednesday, February 14th. Chemours’s payout ratio is presently 17.39%.
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Chemours 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.
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