NYSE:CC - Get Free Report ) released its quarterly earnings data on Tuesday. The specialty chemicals company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.07, Briefing.com reports. The business had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.35 billion. Chemours had a positive return on equity of 51.73% and a negative net margin of 3.80%. The firm's quarterly revenue was down 12.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.98 EPS. Chemours updated its Q2 2024 guidance to EPS.
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Chemours Stock Performance Chemours stock traded down $0.78 during trading on Wednesday, reaching $25.97. The company had a trading volume of 2,490,215 shares, compared to its average volume of 1,832,228. Chemours has a 52 week low of $15.10 and a 52 week high of $39.05. The firm's 50-day simple moving average is $26.66 and its 200 day simple moving average is $27.85. The firm has a market capitalization of $3.87 billion, a price-to-earnings ratio of -16.75 and a beta of 2.00. 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 Announces Dividend The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.00 annualized dividend and a dividend yield of 3.85%. Chemours's payout ratio is -64.52%.
Wall Street Analysts Forecast Growth Several research firms recently issued reports on CC. BMO Capital Markets raised Chemours from an "underperform" rating to an "outperform" rating and upped their price objective for the company from $19.00 to $34.00 in a research report on Tuesday, April 9th. UBS Group increased their price target on Chemours from $21.00 to $28.00 and gave the company a "neutral" rating in a report on Tuesday, April 2nd. Finally, Barclays lowered their price target on Chemours from $32.00 to $30.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 2nd. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $31.63.
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Chemours Company Profile (
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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.
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