Chemours Co (NYSE:CC) – Equities researchers at SunTrust Banks raised their Q3 2018 EPS estimates for Chemours in a report released on Thursday, August 9th. SunTrust Banks analyst J. Sheehan now anticipates that the specialty chemicals company will post earnings of $1.48 per share for the quarter, up from their prior estimate of $1.42. SunTrust Banks currently has a “Hold” rating and a $51.00 target price on the stock. SunTrust Banks also issued estimates for Chemours’ Q4 2018 earnings at $1.43 EPS, FY2018 earnings at $6.03 EPS and FY2019 earnings at $5.97 EPS.
Chemours (NYSE:CC) last announced its quarterly earnings data on Thursday, August 2nd. The specialty chemicals company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.53 by $0.18. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.82 billion. Chemours had a net margin of 15.11% and a return on equity of 107.22%. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.87 earnings per share.
Chemours opened at $45.01 on Monday, according to Marketbeat. Chemours has a 12-month low of $42.75 and a 12-month high of $58.08. The company has a debt-to-equity ratio of 3.86, a quick ratio of 1.47 and a current ratio of 2.09. The company has a market capitalization of $8.32 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 0.53 and a beta of 2.84.
A number of institutional investors have recently bought and sold shares of the stock. FMR LLC increased its holdings in Chemours by 5.8% during the 2nd quarter. FMR LLC now owns 23,927,129 shares of the specialty chemicals company’s stock worth $1,061,408,000 after acquiring an additional 1,321,767 shares during the period. Iridian Asset Management LLC CT grew its stake in Chemours by 53.5% in the 2nd quarter. Iridian Asset Management LLC CT now owns 6,981,122 shares of the specialty chemicals company’s stock worth $309,683,000 after buying an additional 2,433,033 shares in the last quarter. Allianz Asset Management GmbH grew its stake in Chemours by 10.2% in the 1st quarter. Allianz Asset Management GmbH now owns 2,469,095 shares of the specialty chemicals company’s stock worth $120,269,000 after buying an additional 228,558 shares in the last quarter. Point72 Asset Management L.P. grew its stake in Chemours by 153.7% in the 1st quarter. Point72 Asset Management L.P. now owns 1,633,884 shares of the specialty chemicals company’s stock worth $79,586,000 after buying an additional 989,926 shares in the last quarter. Finally, LSV Asset Management grew its stake in Chemours by 588.7% in the 2nd quarter. LSV Asset Management now owns 1,607,336 shares of the specialty chemicals company’s stock worth $71,301,000 after buying an additional 1,373,936 shares in the last quarter. 76.88% of the stock is currently owned by institutional investors and hedge funds.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 17th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Thursday, August 16th. This is a positive change from Chemours’s previous quarterly dividend of $0.17. Chemours’s dividend payout ratio is 17.80%.
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.
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