Chemours (NYSE:CC) Issues Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Chemours (NYSE:CC) released its quarterly earnings data on Tuesday. The specialty chemicals company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $1.40 billion.

Chemours Stock Performance

NYSE CC traded up $0.71 on Tuesday, hitting $27.93. The stock had a trading volume of 6,025,526 shares, compared to its average volume of 3,317,355. Chemours has a one year low of $9.13 and a one year high of $28.67. The company has a quick ratio of 0.85, a current ratio of 1.78 and a debt-to-equity ratio of 16.33. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of -11.26 and a beta of 1.47. The company’s 50-day moving average is $20.74 and its two-hundred day moving average is $16.38.

Chemours Dividend Announcement

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. This represents a $0.35 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, February 27th. Chemours’s payout ratio is presently -14.11%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Royal Bank Of Canada set a $26.00 price target on shares of Chemours and gave the stock an “outperform” rating in a research report on Friday, April 10th. Morgan Stanley boosted their price objective 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. The Goldman Sachs Group raised their target price on shares of Chemours from $14.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. Mizuho lifted their target price on Chemours from $17.00 to $21.00 and gave the company an “outperform” rating in a research note on Thursday, March 5th. Finally, JPMorgan Chase & Co. upped their target price on Chemours from $13.00 to $17.00 and gave the company a “neutral” rating in a report on Monday, February 23rd. Five research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $20.70.

Hedge Funds Weigh In On Chemours

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Baird Financial Group Inc. acquired a new stake in Chemours in the 1st quarter valued at approximately $148,000. Royal Bank of Canada boosted its position in 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 bought a new position in shares of Chemours in the first quarter worth $161,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Chemours by 149.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,243 shares of the specialty chemicals company’s stock worth $593,000 after purchasing an additional 25,899 shares in the last quarter. Finally, Empowered Funds LLC acquired a new position in shares of Chemours during the first quarter valued at $403,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.

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.