Brokers Set Expectations for The Chemours Company's Q3 2024 Earnings (NYSE:CC)

The Chemours Company (NYSE:CC - Free Report) - Equities researchers at Zacks Research dropped their Q3 2024 earnings estimates for Chemours in a note issued to investors on Tuesday, April 9th. Zacks Research analyst M. Agrawal now anticipates that the specialty chemicals company will post earnings of $0.65 per share for the quarter, down from their previous forecast of $0.83. The consensus estimate for Chemours' current full-year earnings is $2.55 per share. Zacks Research also issued estimates for Chemours' Q4 2024 earnings at $0.40 EPS, Q3 2025 earnings at $0.81 EPS and FY2026 earnings at $3.58 EPS.

Several other research analysts have also commented on CC. Barclays cut their price objective on Chemours from $32.00 to $30.00 and set an "equal weight" rating for the company in a report on Tuesday, April 2nd. UBS Group boosted their price objective on Chemours from $21.00 to $28.00 and gave the stock a "neutral" rating in a report on Tuesday, April 2nd. Finally, BMO Capital Markets raised Chemours from an "underperform" rating to an "outperform" rating and boosted their price objective for the stock from $19.00 to $34.00 in a report on Tuesday. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $30.89.

Chemours Price Performance

Shares of CC traded down $0.66 during mid-day trading on Wednesday, reaching $27.50. 917,561 shares of the stock traded hands, compared to its average volume of 1,982,292. The company has a current ratio of 1.54, a quick ratio of 1.00 and a debt-to-equity ratio of 5.40. Chemours has a 1 year low of $15.10 and a 1 year high of $39.05. The company has a market cap of $4.09 billion, a price-to-earnings ratio of -17.74 and a beta of 2.00. The firm has a fifty day moving average price of $27.43 and a 200 day moving average price of $27.87.

Chemours Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, February 26th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.00 annualized dividend and a yield of 3.64%. Chemours's payout ratio is currently -64.52%.

Hedge Funds Weigh In On Chemours

Several hedge funds have recently made changes to their positions in CC. Alaska Permanent Fund Corp grew its stake in Chemours by 14.0% in the first quarter. Alaska Permanent Fund Corp now owns 84,918 shares of the specialty chemicals company's stock worth $2,230,000 after purchasing an additional 10,420 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Chemours in the fourth quarter worth $255,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Chemours in the fourth quarter worth $99,000. Neo Ivy Capital Management purchased a new stake in shares of Chemours in the fourth quarter worth $40,000. Finally, Quarry LP grew its stake in shares of Chemours by 106.8% in the fourth quarter. Quarry LP now owns 1,700 shares of the specialty chemicals company's stock worth $54,000 after acquiring an additional 26,700 shares during the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

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.