Chemours (NYSE:CC) Posts Earnings Results, Misses Expectations By $0.06 EPS

Chemours (NYSE:CC) announced its quarterly earnings results on Tuesday. The specialty chemicals company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.06), Zacks reports. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Chemours had a net margin of 1.51% and a return on equity of 26.54%. Chemours’s revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 EPS.

Chemours Trading Down 9.2 %

Shares of CC opened at $10.99 on Thursday. The firm has a market cap of $1.64 billion, a P/E ratio of 19.28 and a beta of 1.76. Chemours has a fifty-two week low of $9.33 and a fifty-two week high of $29.21. The company has a debt-to-equity ratio of 6.70, a quick ratio of 0.92 and a current ratio of 1.68. The business has a 50-day moving average of $12.65 and a 200 day moving average of $16.64.

Chemours Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.10%. Chemours’s dividend payout ratio is presently 500.00%.

Analyst Ratings Changes

Several brokerages recently issued reports on CC. Mizuho set a $15.00 target price on Chemours in a research report on Tuesday, April 15th. Morgan Stanley reduced their target price on shares of Chemours from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Truist Financial cut their price target on shares of Chemours from $27.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, April 14th. BMO Capital Markets decreased their price objective on shares of Chemours from $34.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Finally, Barclays cut their target price on Chemours from $19.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 1st. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Chemours currently has an average rating of “Moderate Buy” and a consensus target price of $20.33.

About Chemours

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, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.