Chemours (NYSE:CC) Posts Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Chemours (NYSE:CC - Get Free Report) posted its quarterly earnings results on Monday. The specialty chemicals company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.08, Briefing.com reports. Chemours had a return on equity of 33.21% and a net margin of 2.16%. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period in the previous year, the firm earned $0.64 earnings per share. Chemours's quarterly revenue was up .9% on a year-over-year basis.

Chemours Stock Performance

Shares of CC traded down $0.70 during mid-day trading on Tuesday, hitting $19.88. The company's stock had a trading volume of 2,168,320 shares, compared to its average volume of 1,575,375. The stock's 50-day moving average is $18.97 and its two-hundred day moving average is $22.19. The firm has a market capitalization of $2.97 billion, a PE ratio of 40.18 and a beta of 1.75. The company has a debt-to-equity ratio of 5.45, a quick ratio of 1.01 and a current ratio of 1.89. Chemours has a one year low of $15.10 and a one year high of $32.70.

Chemours Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.03%. Chemours's dividend payout ratio (DPR) is presently 200.00%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. The Goldman Sachs Group dropped their price objective on shares of Chemours from $29.00 to $23.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 3rd. Morgan Stanley reduced their price objective on Chemours from $30.00 to $25.00 and set an "equal weight" rating for the company in a research report on Tuesday. Barclays upped their target price on Chemours from $21.00 to $23.00 and gave the stock an "equal weight" rating in a research report on Tuesday. BMO Capital Markets boosted their price target on Chemours from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Monday, October 7th. Finally, UBS Group decreased their target price on shares of Chemours from $30.00 to $28.00 and set a "buy" rating for the company in a research report on Tuesday, August 6th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $25.25.

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, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.