Chemours (NYSE:CC) updated its FY18 earnings guidance on Wednesday. The company provided earnings per share guidance of $4.95-5.60 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.09.
A number of research analysts have issued reports on the stock. Morgan Stanley assumed coverage on shares of Chemours in a research report on Tuesday, January 30th. They set an equal weight rating and a $57.50 target price on the stock. UBS Group upped their target price on shares of Chemours from $50.00 to $59.00 and gave the company a neutral rating in a research report on Friday, November 3rd. Barclays increased their price target on shares of Chemours from $55.00 to $58.00 and gave the company an overweight rating in a research report on Monday, November 6th. Jefferies Group increased their price target on shares of Chemours to $66.00 and gave the company a buy rating in a research report on Monday, December 4th. Finally, Zacks Investment Research upgraded shares of Chemours from a hold rating to a buy rating and set a $57.00 price target on the stock in a research report on Thursday, November 9th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Chemours has an average rating of Buy and a consensus target price of $57.85.
Shares of Chemours (CC) opened at $48.91 on Friday. Chemours has a 52 week low of $31.48 and a 52 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 $9,074.84, a P/E ratio of 12.54, a P/E/G ratio of 0.63 and a beta of 3.03.
Chemours (NYSE:CC) last posted its earnings results on Wednesday, February 14th. The specialty chemicals company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.24. Chemours had a return on equity of 129.86% and a net margin of 12.06%. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same period in the prior year, the business earned $0.08 EPS. Chemours’s revenue for the quarter was up 19.1% compared to the same quarter last year. analysts anticipate that Chemours will post 5.05 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, February 15th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.39%. This is a boost from Chemours’s previous quarterly dividend of $0.03. The ex-dividend date is Wednesday, February 14th. Chemours’s dividend payout ratio is presently 17.44%.
Chemours announced that its board has initiated a share repurchase program on Friday, December 1st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the specialty chemicals company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
In related news, insider Christian W. Siemer sold 15,088 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.14% of the stock is currently owned by corporate insiders.
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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.
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