Chemours Co (NYSE:CC) – Equities research analysts at SunTrust Banks upped their FY2020 earnings estimates for shares of Chemours in a report issued on Sunday, November 4th. SunTrust Banks analyst J. Sheehan now forecasts that the specialty chemicals company will post earnings of $5.23 per share for the year, up from their previous estimate of $5.08. SunTrust Banks currently has a “Hold” rating and a $38.00 target price on the stock.
Chemours (NYSE:CC) last announced its quarterly earnings data on Thursday, November 1st. The specialty chemicals company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.07. Chemours had a return on equity of 106.98% and a net margin of 16.02%. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the prior year, the firm earned $1.12 earnings per share. Chemours’s revenue was up 2.8% compared to the same quarter last year.
CC has been the topic of several other research reports. Morgan Stanley dropped their price objective on Chemours from $48.00 to $47.00 and set a “hold” rating on the stock in a research note on Tuesday, September 25th. Barclays reissued a “buy” rating and issued a $62.00 price objective on shares of Chemours in a research note on Tuesday, August 7th. BMO Capital Markets dropped their price objective on Chemours from $70.00 to $68.00 and set an “outperform” rating on the stock in a research note on Monday, August 6th. Citigroup cut Chemours from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $44.00 to $38.00 in a research note on Friday, November 2nd. Finally, ValuEngine cut Chemours from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 15th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $52.60.
Shares of NYSE:CC opened at $33.98 on Wednesday. Chemours has a 52-week low of $31.34 and a 52-week high of $54.62. The company has a market capitalization of $6.08 billion, a P/E ratio of 8.90, a PEG ratio of 0.39 and a beta of 2.74. The company has a current ratio of 2.03, a quick ratio of 1.39 and a debt-to-equity ratio of 3.48.
A number of hedge funds and other institutional investors have recently made changes to their positions in CC. Iridian Asset Management LLC CT boosted its position in Chemours by 53.5% during the 2nd quarter. Iridian Asset Management LLC CT now owns 6,981,122 shares of the specialty chemicals company’s stock valued at $309,683,000 after acquiring an additional 2,433,033 shares in the last quarter. LSV Asset Management boosted its position in Chemours by 588.7% during the 2nd quarter. LSV Asset Management now owns 1,607,336 shares of the specialty chemicals company’s stock valued at $71,301,000 after acquiring an additional 1,373,936 shares in the last quarter. FMR LLC boosted its position in Chemours by 5.8% during the 2nd quarter. FMR LLC now owns 23,927,129 shares of the specialty chemicals company’s stock valued at $1,061,408,000 after acquiring an additional 1,321,767 shares in the last quarter. Marshall Wace LLP boosted its position in Chemours by 926.4% during the 2nd quarter. Marshall Wace LLP now owns 834,938 shares of the specialty chemicals company’s stock valued at $37,038,000 after acquiring an additional 753,593 shares in the last quarter. Finally, Mackay Shields LLC bought a new stake in Chemours during the 2nd quarter valued at $25,434,000. 76.33% of the stock is currently owned by institutional investors and hedge funds.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 16th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $1.00 annualized dividend and a yield of 2.94%. 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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