The Chemours Company Declares Quarterly Dividend of $0.25 (NYSE:CC)

The Chemours Company (NYSE:CC - Get Free Report) declared a quarterly dividend on Tuesday, February 18th, Wall Street Journal reports. Shareholders of record on Friday, February 28th will be paid a dividend of 0.25 per share by the specialty chemicals company on Friday, March 14th. This represents a $1.00 annualized dividend and a yield of 5.96%. The ex-dividend date is Friday, February 28th.

Chemours has a payout ratio of 35.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Chemours to earn $2.71 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 36.9%.

Chemours Price Performance

Shares of CC stock traded down $0.71 during trading hours on Friday, reaching $16.77. The company's stock had a trading volume of 2,028,076 shares, compared to its average volume of 1,774,895. The company has a quick ratio of 0.92, a current ratio of 1.68 and a debt-to-equity ratio of 6.70. Chemours has a fifty-two week low of $15.10 and a fifty-two week high of $29.83. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of 29.42 and a beta of 1.81. The firm's 50 day simple moving average is $18.09 and its 200-day simple moving average is $18.91.

Chemours (NYSE:CC - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.37 billion. Chemours had a return on equity of 26.54% and a net margin of 1.51%. Sell-side analysts forecast that Chemours will post 2.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CC has been the topic of several research reports. BMO Capital Markets decreased their price target on shares of Chemours from $34.00 to $27.00 and set an "outperform" rating on the stock in a report on Wednesday. Royal Bank of Canada reaffirmed an "outperform" rating and set a $25.00 target price on shares of Chemours in a research note on Thursday, December 12th. Morgan Stanley lowered their price target on shares of Chemours from $25.00 to $22.00 and set an "equal weight" rating for the company in a report on Monday, January 13th. Barclays raised their price objective on Chemours from $21.00 to $23.00 and gave the company an "equal weight" rating in a report on Tuesday, November 5th. Finally, The Goldman Sachs Group lowered their target price on Chemours from $24.00 to $21.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $23.56.

Chemours Company Profile

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.