Chemours (CC) Releases FY18 Earnings Guidance

Chemours (NYSE:CC) updated its FY18 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $4.95-5.60 for the period, compared to the Thomson Reuters consensus estimate of $5.09.

A number of equities research analysts recently commented on the company. Morgan Stanley assumed coverage on Chemours in a research report on Tuesday, January 30th. They issued an equal weight rating and a $57.50 target price on the stock. Barclays reiterated a buy rating and issued a $60.00 target price on shares of Chemours in a research report on Wednesday, December 6th. Jefferies Group boosted their target price on Chemours to $66.00 and gave the stock a buy rating in a research report on Monday, December 4th. Zacks Investment Research downgraded Chemours from a strong-buy rating to a hold rating in a research report on Wednesday, October 18th. Finally, UBS Group boosted their target price on Chemours from $50.00 to $59.00 and gave the stock a neutral rating in a research report on Friday, November 3rd. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $57.85.

Shares of Chemours (NYSE:CC) traded up $1.37 during mid-day trading on Wednesday, reaching $49.01. The company’s stock had a trading volume of 1,949,483 shares, compared to its average volume of 1,700,469. Chemours has a fifty-two week low of $31.48 and a fifty-two week high of $58.08. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.63 and a current ratio of 2.19. The stock has a market capitalization of $8,839.69, a P/E ratio of 33.80, a PEG ratio of 0.61 and a beta of 3.03.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, February 15th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This is an increase from Chemours’s previous quarterly dividend of $0.03. This represents a $0.68 dividend on an annualized basis and a yield of 1.39%. Chemours’s dividend payout ratio is 8.28%.

Chemours announced that its Board of Directors has initiated a share repurchase plan on Friday, December 1st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the specialty chemicals company to purchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

In other Chemours news, insider Christian W. Siemer sold 15,088 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $47.37, for a total transaction of $714,718.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.14% of the company’s stock.

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About Chemours

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 (NYSE:CC)

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