Brokerages expect Chemours Co (NYSE:CC) to report $1.72 billion in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Chemours’ earnings, with estimates ranging from $1.71 billion to $1.72 billion. Chemours posted sales of $1.58 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 8.9%. The business is expected to announce its next earnings results after the market closes on Thursday, November 1st.
According to Zacks, analysts expect that Chemours will report full year sales of $6.95 billion for the current fiscal year, with estimates ranging from $6.90 billion to $7.06 billion. For the next year, analysts forecast that the firm will report sales of $7.23 billion, with estimates ranging from $7.03 billion to $7.49 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Chemours.
Chemours (NYSE:CC) last issued its earnings results on Thursday, August 2nd. The specialty chemicals company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.18. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.82 billion. Chemours had a return on equity of 107.22% and a net margin of 15.11%. The firm’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter last year, the company earned $0.87 EPS.
A number of research firms have issued reports on CC. Citigroup reduced their price objective on Chemours from $69.00 to $64.00 and set a “buy” rating on the stock in a research note on Wednesday, July 11th. Morgan Stanley reduced their price objective on Chemours from $48.00 to $47.00 and set a “hold” rating on the stock in a research note on Tuesday, September 25th. Barclays reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Chemours in a research note on Tuesday, August 7th. ValuEngine downgraded Chemours from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 2nd. Finally, SunTrust Banks began coverage on Chemours in a research note on Tuesday, July 31st. They issued a “hold” rating and a $51.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $57.00.
NYSE:CC traded down $1.08 during trading hours on Thursday, reaching $34.09. The stock had a trading volume of 1,940,226 shares, compared to its average volume of 1,677,131. The company has a debt-to-equity ratio of 3.86, a current ratio of 2.09 and a quick ratio of 1.47. Chemours has a 52 week low of $33.35 and a 52 week high of $58.08. The company has a market cap of $6.34 billion, a price-to-earnings ratio of 8.92, a PEG ratio of 0.41 and a beta of 2.75.
Several institutional investors have recently made changes to their positions in CC. Cerebellum GP LLC purchased a new position in shares of Chemours in the 2nd quarter worth approximately $175,000. Gofen & Glossberg LLC IL purchased a new position in shares of Chemours in the 2nd quarter worth approximately $204,000. Gideon Capital Advisors Inc. purchased a new position in shares of Chemours in the 2nd quarter worth approximately $209,000. Quantitative Systematic Strategies LLC purchased a new position in shares of Chemours in the 2nd quarter worth approximately $247,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Chemours in the 2nd quarter worth approximately $253,000. Hedge funds and other institutional investors own 76.62% of the company’s stock.
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, Fluoroproducts, and Chemical Solutions. The Titanium Technologies segment manufactures and sells titanium dioxide under the Ti-Pure and BaiMax brands for various applications in architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride window profiles, laminate papers used for furniture and building materials, and coated papers and paperboards used for packaging.
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