The Chemours (NYSE:CC) issued its quarterly earnings data on Sunday. The specialty chemicals company reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.08, MarketWatch Earnings reports. The Chemours had a negative net margin of 2.35% and a positive return on equity of 46.27%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the prior year, the company earned $0.71 EPS. The firm’s revenue was up 10.0% on a year-over-year basis.
Shares of NYSE:CC traded up $0.52 during trading on Tuesday, reaching $31.53. 1,329,176 shares of the stock were exchanged, compared to its average volume of 1,455,070. The firm’s 50-day moving average price is $28.53 and its 200 day moving average price is $26.06. The firm has a market cap of $5.21 billion, a price-to-earnings ratio of -43.07 and a beta of 2.30. The Chemours has a 12-month low of $10.62 and a 12-month high of $32.21. The company has a debt-to-equity ratio of 5.54, a quick ratio of 1.23 and a current ratio of 1.99.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Monday, May 17th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Friday, May 14th. The Chemours’s dividend payout ratio (DPR) is presently 39.84%.
A number of brokerages have recently weighed in on CC. BMO Capital Markets raised their price objective on shares of The Chemours from $33.00 to $38.00 in a research note on Tuesday, February 16th. Royal Bank of Canada upgraded The Chemours from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $27.00 to $35.00 in a research report on Friday, January 8th. Citigroup boosted their target price on shares of The Chemours from $27.00 to $29.00 in a research note on Wednesday, February 17th. Finally, Morgan Stanley raised their price target on shares of The Chemours from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 16th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The Chemours currently has an average rating of “Hold” and an average price target of $26.67.
About The Chemours
The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through four segments: Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials, and Chemical Solutions. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure and BaiMax brands for delivering whiteness, brightness, opacity, and protection in various of applications.
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