Chemours Co (CC) Expected to Post Earnings of $1.07 Per Share

Wall Street analysts predict that Chemours Co (NYSE:CC) will announce earnings per share of $1.07 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Chemours’ earnings. The highest EPS estimate is $1.13 and the lowest is $0.96. Chemours posted earnings per share of $1.19 in the same quarter last year, which indicates a negative year over year growth rate of 10.1%. The firm is expected to report its next earnings results on Wednesday, February 13th.

On average, analysts expect that Chemours will report full year earnings of $5.69 per share for the current financial year, with EPS estimates ranging from $5.57 to $5.80. For the next fiscal year, analysts expect that the firm will post earnings of $5.57 per share, with EPS estimates ranging from $5.04 to $6.00. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Chemours.

Chemours (NYSE:CC) last announced its quarterly earnings results on Thursday, November 1st. The specialty chemicals company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.07. Chemours had a return on equity of 106.98% and a net margin of 16.02%. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the business earned $1.12 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year.

A number of research analysts have recently commented on CC shares. SunTrust Banks dropped their price target on Chemours to $38.00 and set a “hold” rating for the company in a research note on Monday, November 5th. Susquehanna Bancshares decreased their price target on Chemours from $65.00 to $44.00 and set a “positive” rating for the company in a report on Monday, November 5th. BMO Capital Markets cut their price objective on shares of Chemours from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Monday, November 5th. They noted that the move was a valuation call. Citigroup cut shares of Chemours from a “buy” rating to a “neutral” rating and dropped their price target for the company from $44.00 to $38.00 in a research report on Friday, November 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating on shares of Chemours in a research report on Thursday, September 13th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $50.63.

In other Chemours news, Director Richard H. Brown acquired 10,000 shares of the stock in a transaction on Monday, December 3rd. The stock was acquired at an average price of $28.60 per share, for a total transaction of $286,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.75% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Trilogy Capital Inc. purchased a new position in shares of Chemours in the 3rd quarter worth approximately $179,000. Point72 Hong Kong Ltd grew its position in shares of Chemours by 1,510.8% in the 3rd quarter. Point72 Hong Kong Ltd now owns 4,639 shares of the specialty chemicals company’s stock worth $183,000 after buying an additional 4,351 shares during the last quarter. Gideon Capital Advisors Inc. purchased a new position in shares of Chemours in the 2nd quarter worth approximately $209,000. Signition LP purchased a new position in shares of Chemours in the 3rd quarter worth approximately $232,000. Finally, Quantitative Systematic Strategies LLC purchased a new position in shares of Chemours in the 2nd quarter worth approximately $247,000. Institutional investors own 78.51% of the company’s stock.

NYSE CC traded down $0.22 on Friday, hitting $26.66. 22,251 shares of the company’s stock were exchanged, compared to its average volume of 1,624,085. The company has a debt-to-equity ratio of 3.48, a current ratio of 2.03 and a quick ratio of 1.39. Chemours has a 52 week low of $25.22 and a 52 week high of $54.62. The stock has a market capitalization of $4.64 billion, a PE ratio of 6.99, a PEG ratio of 0.31 and a beta of 2.68.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 16th will be paid a $0.25 dividend. The ex-dividend date is Thursday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.75%. Chemours’s dividend payout ratio (DPR) is presently 26.18%.

Chemours Company Profile

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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