Equities research analysts expect that Chemours Co (NYSE:CC) will announce sales of $1.40 billion for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Chemours’ earnings, with estimates ranging from $1.39 billion to $1.41 billion. Chemours reported sales of $1.63 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 14.1%. The firm is expected to report its next quarterly earnings results on Thursday, November 7th.
On average, analysts expect that Chemours will report full year sales of $5.54 billion for the current fiscal year, with estimates ranging from $5.44 billion to $5.65 billion. For the next fiscal year, analysts anticipate that the business will post sales of $5.82 billion, with estimates ranging from $5.66 billion to $6.05 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Chemours.
Chemours (NYSE:CC) last posted its quarterly earnings data on Thursday, August 1st. The specialty chemicals company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.18). The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.53 billion. Chemours had a return on equity of 71.90% and a net margin of 10.33%. Chemours’s revenue for the quarter was down 22.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.71 EPS.
A number of equities analysts have commented on the company. Barclays reissued a “buy” rating and issued a $42.00 price objective on shares of Chemours in a research note on Monday, June 3rd. Citigroup lowered Chemours from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $40.00 to $20.00 in a research note on Friday, July 12th. Morgan Stanley set a $26.00 price objective on Chemours and gave the stock a “hold” rating in a research note on Wednesday, June 19th. SunTrust Banks lowered Chemours from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Finally, Royal Bank of Canada lowered Chemours from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $32.00 to $16.00 in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $34.00.
Chemours stock traded up $0.29 on Wednesday, reaching $12.95. The company’s stock had a trading volume of 3,304,970 shares, compared to its average volume of 2,452,377. The company has a debt-to-equity ratio of 5.37, a quick ratio of 1.09 and a current ratio of 1.96. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 2.28, a PEG ratio of 0.30 and a beta of 2.48. The business’s fifty day moving average price is $17.52 and its 200 day moving average price is $28.96. Chemours has a twelve month low of $11.71 and a twelve month high of $46.13.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 16th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.72%. Chemours’s payout ratio is currently 17.64%.
In other news, Director Mary B. Cranston bought 1,790 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was bought at an average price of $13.99 per share, for a total transaction of $25,042.10. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark P. Vergnano bought 44,000 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were purchased at an average price of $23.17 per share, with a total value of $1,019,480.00. Following the transaction, the chief executive officer now owns 116,600 shares of the company’s stock, valued at $2,701,622. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 77,790 shares of company stock valued at $1,490,412. 2.34% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CC. FMR LLC increased its holdings in shares of Chemours by 2.0% in the first quarter. FMR LLC now owns 24,912,740 shares of the specialty chemicals company’s stock worth $925,757,000 after acquiring an additional 479,467 shares in the last quarter. Third Point LLC boosted its position in shares of Chemours by 118.8% during the second quarter. Third Point LLC now owns 4,375,000 shares of the specialty chemicals company’s stock worth $105,000,000 after buying an additional 2,375,000 shares during the period. LSV Asset Management boosted its position in shares of Chemours by 4.5% during the second quarter. LSV Asset Management now owns 3,860,806 shares of the specialty chemicals company’s stock worth $92,659,000 after buying an additional 165,800 shares during the period. Invesco Ltd. boosted its position in shares of Chemours by 171.4% during the second quarter. Invesco Ltd. now owns 2,466,635 shares of the specialty chemicals company’s stock worth $59,199,000 after buying an additional 1,557,746 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Chemours by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 1,734,170 shares of the specialty chemicals company’s stock worth $48,906,000 after buying an additional 58,490 shares during the period. Institutional investors and hedge funds own 76.18% of the company’s stock.
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, Fluoroproducts, and Chemical Solutions. The Titanium Technologies segment manufactures and sells titanium dioxide under the Ti-Pure and BaiMax brands for various applications in architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride window profiles, laminate papers used for furniture and building materials, and coated papers and paperboards used for packaging.
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