$1.55 Billion in Sales Expected for Chemours Co (CC) This Quarter

Wall Street brokerages forecast that Chemours Co (NYSE:CC) will post $1.55 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Chemours’ earnings, with the highest sales estimate coming in at $1.57 billion and the lowest estimate coming in at $1.52 billion. Chemours reported sales of $1.58 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 1.9%. The business is expected to announce its next quarterly earnings results after the market closes on Thursday, February 14th.

On average, analysts expect that Chemours will report full-year sales of $6.70 billion for the current financial year, with estimates ranging from $6.67 billion to $6.74 billion. For the next financial year, analysts anticipate that the business will report sales of $6.91 billion, with estimates ranging from $6.72 billion to $6.98 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Chemours.

CC has been the subject of several research reports. Citigroup downgraded shares of Chemours from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $44.00 to $38.00 in a research report on Friday, November 2nd. SunTrust Banks cut their price objective on shares of Chemours to $38.00 and set a “hold” rating for the company in a research report on Monday, November 5th. Susquehanna Bancshares cut their price objective on shares of Chemours from $65.00 to $44.00 and set a “positive” rating for the company in a research report on Monday, November 5th. BMO Capital Markets cut their price objective on shares of Chemours from $68.00 to $58.00 and set an “outperform” rating for the company in a research report on Monday, November 5th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of Chemours from a “sell” rating to a “hold” rating in a research report on Tuesday, December 11th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $49.22.

Shares of CC stock opened at $36.89 on Tuesday. The company has a debt-to-equity ratio of 3.48, a current ratio of 2.03 and a quick ratio of 1.39. The company has a market cap of $6.26 billion, a price-to-earnings ratio of 9.66, a P/E/G ratio of 0.43 and a beta of 2.32. Chemours has a 12-month low of $25.17 and a 12-month high of $53.25.

In other Chemours news, Director Richard H. Brown bought 10,000 shares of the stock in a transaction dated Monday, December 3rd. The shares were bought at an average cost of $28.60 per share, with a total value of $286,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.75% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Martingale Asset Management L P increased its stake in Chemours by 28.5% in the fourth quarter. Martingale Asset Management L P now owns 139,412 shares of the specialty chemicals company’s stock valued at $3,935,000 after acquiring an additional 30,915 shares during the last quarter. State of Tennessee Treasury Department increased its stake in Chemours by 108.9% in the fourth quarter. State of Tennessee Treasury Department now owns 271,369 shares of the specialty chemicals company’s stock valued at $7,658,000 after acquiring an additional 141,483 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Chemours by 5.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 17,043 shares of the specialty chemicals company’s stock valued at $481,000 after acquiring an additional 906 shares during the last quarter. Texas Permanent School Fund increased its stake in Chemours by 0.6% in the fourth quarter. Texas Permanent School Fund now owns 111,956 shares of the specialty chemicals company’s stock valued at $3,159,000 after acquiring an additional 684 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Chemours by 37.7% in the fourth quarter. Bank of New York Mellon Corp now owns 3,146,146 shares of the specialty chemicals company’s stock valued at $88,784,000 after acquiring an additional 860,666 shares during the last quarter. 80.16% of the stock is currently owned by institutional investors.

About Chemours

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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Earnings History and Estimates for Chemours (NYSE:CC)

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