Chemours (NYSE:CC) Releases Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Chemours (NYSE:CC) posted its quarterly earnings results on Tuesday. The specialty chemicals company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.08), Zacks reports. Chemours had a positive return on equity of 52.49% and a negative net margin of 6.82%.During the same quarter last year, the firm earned ($2.54) earnings per share. Chemours’s revenue for the quarter was down 1.5% on a year-over-year basis.

Chemours Trading Up 4.9%

Shares of CC stock traded up $0.83 during mid-day trading on Tuesday, reaching $17.94. The stock had a trading volume of 2,850,245 shares, compared to its average volume of 2,202,822. Chemours has a 52-week low of $10.44 and a 52-week high of $28.67. The company has a current ratio of 1.82, a quick ratio of 0.87 and a debt-to-equity ratio of 18.98. The stock’s 50-day moving average price is $19.75 and its two-hundred day moving average price is $20.04. The firm has a market capitalization of $2.70 billion, a PE ratio of 19.44 and a beta of 1.43.

Analyst Ratings Changes

Several equities research analysts have recently commented on CC shares. Morgan Stanley boosted their price objective on Chemours from $17.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Weiss Ratings restated a “sell (d)” rating on shares of Chemours in a research note on Friday, July 17th. UBS Group upped their price objective on shares of Chemours from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, May 8th. JPMorgan Chase & Co. boosted their price objective on Chemours from $17.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, May 21st. Finally, Zacks Research raised shares of Chemours from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.10.

Institutional Trading of Chemours

Several large investors have recently bought and sold shares of the company. Baird Financial Group Inc. purchased a new stake in shares of Chemours in the 1st quarter worth about $148,000. Royal Bank of Canada boosted its holdings in Chemours by 6.8% in the first quarter. Royal Bank of Canada now owns 585,702 shares of the specialty chemicals company’s stock worth $7,926,000 after purchasing an additional 37,382 shares during the last quarter. AQR Capital Management LLC purchased a new position in Chemours in the first quarter worth about $161,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Chemours by 149.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,243 shares of the specialty chemicals company’s stock valued at $593,000 after buying 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 $403,000. 76.26% of the stock is owned by institutional investors.

About Chemours

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.