Chemours (NYSE:CC) Posts Earnings Results

Chemours (NYSE:CC) released its quarterly earnings results on Tuesday. The specialty chemicals company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.10, FiscalAI reports. Chemours had a negative net margin of 6.41% and a positive return on equity of 41.75%. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.40 billion.

Chemours Price Performance

NYSE:CC traded up $0.71 during trading hours on Tuesday, hitting $27.93. 6,028,320 shares of the stock traded hands, compared to its average volume of 3,317,370. The company has a market cap of $4.19 billion, a price-to-earnings ratio of -11.26 and a beta of 1.47. Chemours has a 1 year low of $9.13 and a 1 year high of $28.67. The stock has a 50 day moving average price of $20.74 and a 200 day moving average price of $16.38. The company has a quick ratio of 0.85, a current ratio of 1.78 and a debt-to-equity ratio of 16.33.

Chemours Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were paid a dividend of $0.0875 per share. The ex-dividend date was Friday, February 27th. This represents a $0.35 dividend on an annualized basis and a yield of 1.3%. Chemours’s dividend payout ratio (DPR) is presently -14.11%.

Institutional Trading of Chemours

Institutional investors and hedge funds have recently modified their holdings of the company. Man Group plc boosted its holdings in Chemours by 0.4% in the 2nd quarter. Man Group plc now owns 271,108 shares of the specialty chemicals company’s stock worth $3,104,000 after buying an additional 979 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in Chemours by 5.1% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 35,738 shares of the specialty chemicals company’s stock valued at $421,000 after acquiring an additional 1,748 shares during the period. Alliancebernstein L.P. lifted its position in shares of Chemours by 1.1% in the third quarter. Alliancebernstein L.P. now owns 167,886 shares of the specialty chemicals company’s stock valued at $2,659,000 after acquiring an additional 1,756 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Chemours by 18.9% in the second quarter. Tower Research Capital LLC TRC now owns 12,123 shares of the specialty chemicals company’s stock valued at $139,000 after acquiring an additional 1,925 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its stake in shares of Chemours by 1.5% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 133,370 shares of the specialty chemicals company’s stock worth $1,571,000 after acquiring an additional 2,034 shares during the period. 76.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CC shares. Morgan Stanley boosted their target price on shares of Chemours from $15.00 to $17.00 and gave the company an “equal weight” rating in a research report on Monday, February 23rd. Jefferies Financial Group reiterated a “hold” rating and issued a $17.00 price target on shares of Chemours in a research report on Monday, February 23rd. UBS Group boosted their price objective on shares of Chemours from $23.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, April 9th. Royal Bank Of Canada set a $26.00 price objective on Chemours and gave the stock an “outperform” rating in a research note on Friday, April 10th. Finally, Truist Financial raised their target price on Chemours from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Five research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $20.70.

Chemours Company Profile

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours’ principal business activities are organized into three core segments.