Chemours (NYSE:CC) Issues Quarterly Earnings Results

Key Points

• Chemours reported quarterly EPS of $0.05, beating the consensus of ($0.05) by $0.10 while revenue was $1.38B versus estimates of $1.40B; the company posted a strong ROE of 41.75% but a negative net margin of 6.41%.
• Shares traded up about 2.6% to $27.93 on higher-than-average volume; market cap is roughly $4.19B with a 52-week range of $9.13–$28.67 and a negative P/E of –11.26.
• Analysts are mixed: the consensus rating is a "Hold" with a target of $20.70, though some firms (e.g., UBS) have raised targets and assigned a "Buy" rating.

Chemours (NYSE:CC - Get Free Report) released its quarterly earnings data on Tuesday. The specialty chemicals company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.10, FiscalAI reports. Chemours had a positive return on equity of 41.75% and a negative net margin of 6.41%.The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.40 billion.

Chemours Stock Up 2.6%

Shares of CC stock traded up $0.71 during mid-day trading on Tuesday, reaching $27.93. 6,025,526 shares of the company were exchanged, compared to its average volume of 3,317,355. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.85 and a current ratio of 1.78. The business's 50 day simple moving average is $20.74 and its 200 day simple moving average is $16.38. The company has a market capitalization of $4.19 billion, a P/E ratio of -11.26 and a beta of 1.47. Chemours has a fifty-two week low of $9.13 and a fifty-two week high of $28.67.

Chemours Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were given a dividend of $0.0875 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.3%. Chemours's dividend payout ratio (DPR) is presently -14.11%.

Institutional Investors Weigh In On Chemours

Several hedge funds and other institutional investors have recently modified their holdings of CC. Franklin Resources Inc. acquired a new position in Chemours in the fourth quarter worth about $144,000. Captrust Financial Advisors acquired a new stake in Chemours during the fourth quarter valued at approximately $139,000. Tower Research Capital LLC TRC lifted its holdings in Chemours by 18.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 12,123 shares of the specialty chemicals company's stock worth $139,000 after buying an additional 1,925 shares during the last quarter. Numerai GP LLC bought a new position in Chemours during the 4th quarter worth approximately $133,000. Finally, Abel Hall LLC acquired a new position in shares of Chemours in the 4th quarter worth approximately $128,000. Institutional investors own 76.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CC. UBS Group lifted their price target on shares of Chemours from $23.00 to $29.00 and gave the company a "buy" rating in a research report on Thursday, April 9th. BMO Capital Markets reduced their price objective on Chemours from $20.00 to $19.00 and set an "outperform" rating on the stock in a research note on Monday, February 23rd. Morgan Stanley increased their target price on Chemours from $15.00 to $17.00 and gave the company an "equal weight" rating in a research note on Monday, February 23rd. Jefferies Financial Group restated a "hold" rating and issued a $17.00 price target on shares of Chemours in a report on Monday, February 23rd. Finally, Zacks Research raised shares of Chemours from a "strong sell" rating to a "hold" rating in a research report on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Chemours presently has an average rating of "Hold" and a consensus target price of $20.70.

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.

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