Zacks: Brokerages Expect Chemours Co (CC) Will Announce Earnings of $1.39 Per Share
Analysts expect Chemours Co (NYSE:CC) to announce $1.39 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Chemours’ earnings, with estimates ranging from $1.36 to $1.42. Chemours reported earnings of $1.12 per share during the same quarter last year, which would indicate a positive year over year growth rate of 24.1%. The firm is expected to issue its next earnings results on Thursday, November 1st.
On average, analysts expect that Chemours will report full-year earnings of $5.76 per share for the current year, with EPS estimates ranging from $5.64 to $5.85. For the next fiscal year, analysts forecast that the company will post earnings of $5.97 per share, with EPS estimates ranging from $5.32 to $6.55. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that follow Chemours.
Chemours (NYSE:CC) last announced its quarterly earnings results on Thursday, August 2nd. The specialty chemicals company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.18. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company earned $0.87 earnings per share.
Large investors have recently bought and sold shares of the company. Alambic Investment Management L.P. bought a new position in shares of Chemours in the second quarter valued at approximately $519,000. Systematic Financial Management LP bought a new position in shares of Chemours in the second quarter valued at approximately $1,298,000. Quantitative Systematic Strategies LLC bought a new position in shares of Chemours in the second quarter valued at approximately $247,000. Korea Investment CORP raised its stake in shares of Chemours by 16.5% in the second quarter. Korea Investment CORP now owns 357,655 shares of the specialty chemicals company’s stock valued at $15,866,000 after acquiring an additional 50,700 shares during the last quarter. Finally, Fosun International Ltd bought a new position in shares of Chemours in the second quarter valued at approximately $449,000. Institutional investors own 76.69% of the company’s stock.
CC traded down $1.98 during midday trading on Friday, reaching $38.93. 1,822,235 shares of the company’s stock were exchanged, compared to its average volume of 1,670,684. The stock has a market cap of $6.97 billion, a price-to-earnings ratio of 10.19, a P/E/G ratio of 0.44 and a beta of 2.75. The company has a quick ratio of 1.47, a current ratio of 2.09 and a debt-to-equity ratio of 3.86. Chemours has a one year low of $38.42 and a one year high of $58.08.
The company also recently announced a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 17th were paid a $0.25 dividend. The ex-dividend date was Thursday, August 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.57%. This is a boost from Chemours’s previous quarterly dividend of $0.17. Chemours’s payout ratio is 26.18%.
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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