Chemours (CC) Earning Somewhat Favorable Media Coverage, Study Shows
Media headlines about Chemours (NYSE:CC) have trended somewhat positive on Saturday, according to Accern. The research firm ranks the sentiment of press coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Chemours earned a news impact score of 0.19 on Accern’s scale. Accern also assigned press coverage about the specialty chemicals company an impact score of 45.0445505550371 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
Shares of Chemours (CC) traded down $0.52 during trading hours on Friday, reaching $52.47. 872,489 shares of the company were exchanged, compared to its average volume of 2,470,000. The company has a market capitalization of $9,700.00 and a PE ratio of 36.19. Chemours has a 1 year low of $23.39 and a 1 year high of $58.08. The company has a quick ratio of 1.63, a current ratio of 2.19 and a debt-to-equity ratio of 5.07.
Chemours (NYSE:CC) last issued its earnings results on Thursday, November 2nd. The specialty chemicals company reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.11. The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Chemours had a net margin of 4.86% and a return on equity of 116.80%. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the firm posted $0.61 earnings per share. research analysts predict that Chemours will post 3.65 earnings per share for the current fiscal 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 issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.30%. 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 (DPR) is presently 8.28%.
Chemours announced that its Board of Directors has authorized a share buyback 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 purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.
Several research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Chemours from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 18th. UBS Group increased their price objective on shares of Chemours from $50.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. Barclays increased their price objective on shares of Chemours from $55.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, November 6th. Goldman Sachs Group cut shares of Chemours from a “buy” rating to a “neutral” rating and set a $55.00 price objective for the company. in a report on Wednesday, December 6th. Finally, Jefferies Group increased their price objective on shares of Chemours to $66.00 and gave the company a “buy” rating in a report on Monday, December 4th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $57.89.
In related news, insider Christian W. Siemer sold 15,088 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $47.37, for a total value of $714,718.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider E Bryan Snell sold 11,878 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $53.25, for a total transaction of $632,503.50. Following the completion of the sale, the insider now owns 63,063 shares of the company’s stock, valued at approximately $3,358,104.75. The disclosure for this sale can be found here. Company insiders own 1.14% of the company’s stock.
Chemours Company Profile
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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