Chemours Co (NYSE:CC) – Analysts at SunTrust Banks dropped their FY2018 earnings estimates for Chemours in a research report issued on Sunday, November 4th. SunTrust Banks analyst J. Sheehan now anticipates that the specialty chemicals company will post earnings per share of $5.75 for the year, down from their previous estimate of $5.85. SunTrust Banks currently has a “Hold” rating and a $38.00 target price on the stock. SunTrust Banks also issued estimates for Chemours’ Q4 2018 earnings at $1.13 EPS and FY2019 earnings at $5.04 EPS.
Chemours (NYSE:CC) last posted its quarterly earnings data on Thursday, November 1st. The specialty chemicals company reported $1.49 EPS for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.07. Chemours had a return on equity of 106.98% and a net margin of 16.02%. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the company earned $1.12 EPS. The company’s revenue was up 2.8% on a year-over-year basis.
Several other equities analysts have also issued reports on the company. BMO Capital Markets decreased their price target on Chemours from $68.00 to $58.00 and set an “outperform” rating on the stock in a research note on Monday. They noted that the move was a valuation call. Susquehanna Bancshares decreased their price target on Chemours from $65.00 to $44.00 and set a “positive” rating on the stock in a research note on Monday. Citigroup lowered Chemours from a “buy” rating to a “neutral” rating and decreased their price target for the company from $44.00 to $38.00 in a research note on Friday, November 2nd. Zacks Investment Research lowered Chemours from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 11th. Finally, Morgan Stanley decreased their price target on Chemours from $48.00 to $47.00 and set a “hold” rating on the stock in a research note on Tuesday, September 25th. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $52.60.
Chemours stock opened at $33.98 on Tuesday. Chemours has a one year low of $31.34 and a one year high of $54.62. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.39 and a current ratio of 2.03. The firm has a market cap of $6.08 billion, a price-to-earnings ratio of 8.90, a P/E/G ratio of 0.39 and a beta of 2.74.
Several institutional investors and hedge funds have recently modified their holdings of CC. Principal Financial Group Inc. boosted its holdings in shares of Chemours by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 811,841 shares of the specialty chemicals company’s stock valued at $39,545,000 after acquiring an additional 18,140 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of Chemours by 10.2% during the 1st quarter. Allianz Asset Management GmbH now owns 2,469,095 shares of the specialty chemicals company’s stock valued at $120,269,000 after acquiring an additional 228,558 shares in the last quarter. DnB Asset Management AS boosted its holdings in shares of Chemours by 9.0% during the 2nd quarter. DnB Asset Management AS now owns 18,100 shares of the specialty chemicals company’s stock valued at $803,000 after acquiring an additional 1,500 shares in the last quarter. IFM Investors Pty Ltd boosted its holdings in shares of Chemours by 45.4% during the 2nd quarter. IFM Investors Pty Ltd now owns 8,147 shares of the specialty chemicals company’s stock valued at $361,000 after acquiring an additional 2,544 shares in the last quarter. Finally, Polianta Ltd acquired a new stake in shares of Chemours during the 2nd quarter valued at $1,051,000. Institutional investors own 76.33% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 16th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 2.94%. Chemours’s payout ratio is 26.18%.
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, 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.
Featured Story: Benefits of owning preferred stock
Receive News & Ratings for Chemours Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chemours and related companies with MarketBeat.com's FREE daily email newsletter.