Chemours Co (NYSE:CC) – Analysts at SunTrust Banks cut their Q3 2020 EPS estimates for shares of Chemours in a research report issued on Tuesday, June 23rd. SunTrust Banks analyst J. Sheehan now expects that the specialty chemicals company will post earnings of $0.33 per share for the quarter, down from their prior forecast of $0.42. SunTrust Banks currently has a “Hold” rating and a $12.00 target price on the stock. SunTrust Banks also issued estimates for Chemours’ Q4 2020 earnings at $0.39 EPS and FY2020 earnings at $1.58 EPS.
Several other equities analysts also recently commented on the stock. Jefferies Financial Group downgraded shares of Chemours from a “buy” rating to a “hold” rating in a research note on Monday, March 23rd. ValuEngine upgraded Chemours from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 6th. Royal Bank of Canada reduced their target price on Chemours from $13.00 to $11.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 1st. Citigroup decreased their target price on Chemours from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Finally, Cfra cut their price target on shares of Chemours from $21.00 to $11.00 and set a “hold” rating on the stock in a report on Friday, April 3rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. Chemours has an average rating of “Hold” and an average target price of $14.30.
Chemours (NYSE:CC) last issued its earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.25. Chemours had a negative net margin of 0.82% and a positive return on equity of 56.54%. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter last year, the business earned $0.63 earnings per share. The business’s revenue was down 5.2% on a year-over-year basis.
Several institutional investors have recently bought and sold shares of the stock. Chevy Chase Trust Holdings Inc. bought a new position in Chemours during the 4th quarter valued at approximately $28,000. Meeder Asset Management Inc. grew its stake in shares of Chemours by 173.6% in the first quarter. Meeder Asset Management Inc. now owns 3,133 shares of the specialty chemicals company’s stock worth $28,000 after acquiring an additional 1,988 shares during the last quarter. Pearl River Capital LLC bought a new position in shares of Chemours during the first quarter valued at $32,000. Verus Capital Partners LLC purchased a new position in shares of Chemours in the 4th quarter worth about $34,000. Finally, Patriot Financial Group Insurance Agency LLC boosted its stake in Chemours by 61.6% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 4,459 shares of the specialty chemicals company’s stock worth $40,000 after purchasing an additional 1,700 shares in the last quarter. Institutional investors own 80.10% of the company’s stock.
In other Chemours news, COO Mark Newman purchased 2,500 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was bought at an average cost of $11.62 per share, with a total value of $29,050.00. Following the transaction, the chief operating officer now directly owns 132,344 shares in the company, valued at approximately $1,537,837.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.72% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 15th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 6.74%. The ex-dividend date was Thursday, May 14th. Chemours’s dividend payout ratio is currently 39.84%.
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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