Chemours (NYSE:CC) Announces Quarterly Earnings Results

Chemours (NYSE:CCGet Free Report) posted its quarterly earnings results on Thursday. The specialty chemicals company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.04, FiscalAI reports. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Chemours had a negative net margin of 6.41% and a positive return on equity of 38.34%. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.09 EPS.

Chemours Price Performance

CC stock opened at $17.02 on Friday. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of -6.86 and a beta of 1.63. The company has a quick ratio of 0.88, a current ratio of 1.71 and a debt-to-equity ratio of 13.66. Chemours has a fifty-two week low of $9.13 and a fifty-two week high of $21.85. The business has a 50 day moving average price of $15.24 and a 200 day moving average price of $14.44.

Chemours Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be paid a $0.0875 dividend. The ex-dividend date is Friday, February 27th. This represents a $0.35 dividend on an annualized basis and a yield of 2.1%. Chemours’s dividend payout ratio (DPR) is currently -14.11%.

Institutional Trading of Chemours

Large investors have recently bought and sold shares of the business. Cooper Creek Partners Management LLC purchased a new stake in Chemours in the 3rd quarter valued at approximately $63,103,000. Scopia Capital Management LP increased its position in Chemours by 71.7% during the 2nd quarter. Scopia Capital Management LP now owns 3,355,261 shares of the specialty chemicals company’s stock worth $38,418,000 after purchasing an additional 1,401,539 shares in the last quarter. State Street Corp raised its position in shares of Chemours by 22.7% in the second quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company’s stock valued at $70,009,000 after buying an additional 1,131,682 shares during the last quarter. Sona Asset Management US LLC raised its holdings in Chemours by 176.9% in the 4th quarter. Sona Asset Management US LLC now owns 1,651,275 shares of the specialty chemicals company’s stock valued at $19,469,000 after acquiring an additional 1,055,000 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Chemours by 36.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,701,294 shares of the specialty chemicals company’s stock worth $43,638,000 after buying an additional 996,012 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. cut their target price on Chemours from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, December 3rd. UBS Group reduced their price objective on shares of Chemours from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $18.00 target price on shares of Chemours in a research report on Friday, January 16th. Truist Financial lifted their price target on shares of Chemours from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Chemours in a report on Wednesday, January 21st. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $16.67.

View Our Latest Stock Analysis on Chemours

Chemours News Roundup

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About Chemours

(Get Free Report)

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.

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Earnings History for Chemours (NYSE:CC)

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