Analysts Expect Chemours Co (NYSE:CC) to Announce $0.90 EPS
Wall Street brokerages expect that Chemours Co (NYSE:CC) will report earnings per share (EPS) of $0.90 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Chemours’ earnings. The lowest EPS estimate is $0.78 and the highest is $1.04. Chemours reported earnings per share of $1.71 in the same quarter last year, which indicates a negative year over year growth rate of 47.4%. The company is expected to announce its next earnings results after the market closes on Thursday, August 1st.
According to Zacks, analysts expect that Chemours will report full-year earnings of $3.92 per share for the current financial year, with EPS estimates ranging from $3.56 to $4.55. For the next fiscal year, analysts expect that the business will post earnings of $5.39 per share, with EPS estimates ranging from $4.79 to $6.20. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Chemours.
Chemours (NYSE:CC) last announced its quarterly earnings data on Thursday, May 2nd. The specialty chemicals company reported $0.63 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.30). The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.52 billion. Chemours had a return on equity of 87.75% and a net margin of 12.60%. Chemours’s revenue was down 20.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.41 earnings per share.
CC stock traded up $0.45 during mid-day trading on Friday, hitting $19.49. 2,074,056 shares of the company were exchanged, compared to its average volume of 2,990,846. The firm has a market cap of $3.12 billion, a P/E ratio of 3.44, a PEG ratio of 0.31 and a beta of 2.50. The company has a debt-to-equity ratio of 5.18, a current ratio of 1.81 and a quick ratio of 1.04. Chemours has a twelve month low of $18.14 and a twelve month high of $48.97. The stock’s fifty day moving average is $21.93.
In other news, Director Bradley J. Bell bought 5,000 shares of Chemours stock in a transaction on Thursday, May 16th. The stock was purchased at an average cost of $24.06 per share, with a total value of $120,300.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark P. Vergnano bought 44,000 shares of Chemours stock in a transaction on Monday, June 10th. The shares were purchased at an average cost of $23.17 per share, with a total value of $1,019,480.00. Following the completion of the purchase, the chief executive officer now directly owns 116,600 shares in the company, valued at $2,701,622. The disclosure for this purchase can be found here. Insiders bought a total of 55,500 shares of company stock valued at $1,289,670 over the last ninety days. Company insiders own 2.34% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Cullen Frost Bankers Inc. acquired a new position in Chemours during the 1st quarter valued at about $26,000. Investors Research Corp boosted its stake in Chemours by 148.1% during the 2nd quarter. Investors Research Corp now owns 1,206 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 720 shares during the period. Zions Bancorporation N.A. acquired a new position in Chemours during the 1st quarter valued at about $30,000. Enterprise Financial Services Corp boosted its stake in Chemours by 306.5% during the 1st quarter. Enterprise Financial Services Corp now owns 935 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 705 shares during the period. Finally, Legacy Bridge LLC boosted its stake in Chemours by 100.0% during the 1st quarter. Legacy Bridge LLC now owns 1,200 shares of the specialty chemicals company’s stock valued at $45,000 after purchasing an additional 600 shares during the period. 80.09% of the stock is owned by hedge funds and other institutional investors.
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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