Chemours (NYSE:CC) Posts Quarterly Earnings Results

Chemours (NYSE:CC) issued its earnings results on Tuesday. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.10, FiscalAI reports. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.40 billion. Chemours had a positive return on equity of 50.13% and a negative net margin of 6.82%.The business’s revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.13 earnings per share.

Chemours Price Performance

Shares of CC traded down $0.18 during midday trading on Thursday, reaching $23.49. The stock had a trading volume of 1,317,291 shares, compared to its average volume of 3,336,797. The company’s 50-day moving average is $21.08 and its 200 day moving average is $16.55. Chemours has a 12-month low of $9.13 and a 12-month high of $28.67. The company has a current ratio of 1.78, a quick ratio of 0.85 and a debt-to-equity ratio of 16.33. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of -8.89 and a beta of 1.47.

Chemours Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Sunday, May 17th will be issued a $0.0875 dividend. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, May 15th. Chemours’s dividend payout ratio is presently -14.11%.

Institutional Investors Weigh In On Chemours

Hedge funds and other institutional investors have recently modified their holdings of the stock. Baird Financial Group Inc. bought a new position in Chemours during the 1st quarter valued at approximately $148,000. Royal Bank of Canada grew its holdings in shares of Chemours by 6.8% during the 1st quarter. Royal Bank of Canada now owns 585,702 shares of the specialty chemicals company’s stock worth $7,926,000 after acquiring an additional 37,382 shares during the period. AQR Capital Management LLC purchased a new position in shares of Chemours during the 1st quarter worth approximately $161,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Chemours by 149.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,243 shares of the specialty chemicals company’s stock worth $593,000 after acquiring an additional 25,899 shares during the period. Finally, Empowered Funds LLC purchased a new stake in shares of Chemours in the 1st quarter worth approximately $403,000. Institutional investors own 76.26% of the company’s stock.

Analyst Upgrades and Downgrades

CC has been the topic of several research reports. Royal Bank Of Canada set a $26.00 target price on Chemours and gave the company an “outperform” rating in a research note on Friday, April 10th. Mizuho set a $30.00 price target on Chemours in a research report on Wednesday. Truist Financial lifted their price target on Chemours from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Weiss Ratings reiterated a “sell (d)” rating on shares of Chemours in a research report on Monday, April 20th. Finally, Morgan Stanley lifted their price target on Chemours from $15.00 to $17.00 and gave the company an “equal weight” rating in a research report on Monday, February 23rd. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $21.60.

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.