Equities Analysts Offer Predictions for Chemours Co’s FY2019 Earnings (NYSE:CC)

Equities Analysts Offer Predictions for Chemours Co’s FY2019 Earnings (NYSE:CC)

Chemours Co (NYSE:CC) – Analysts at Jefferies Financial Group lifted their FY2019 earnings estimates for shares of Chemours in a research report issued to clients and investors on Wednesday, November 6th. Jefferies Financial Group analyst L. Alexander now anticipates that the specialty chemicals company will post earnings of $2.40 per share for the year, up from their previous estimate of $2.35. Jefferies Financial Group also issued estimates for Chemours’ Q4 2019 earnings at $0.46 EPS, FY2020 earnings at $2.70 EPS, FY2021 earnings at $3.50 EPS and FY2022 earnings at $4.35 EPS.

A number of other analysts have also issued reports on the stock. Susquehanna Bancshares upgraded shares of Chemours from a “neutral” rating to a “positive” rating and cut their price target for the stock from $37.00 to $18.00 in a research note on Tuesday, August 20th. Citigroup boosted their price target on shares of Chemours from $14.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday. UBS Group lowered their price objective on Chemours from $19.00 to $14.50 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Cfra raised Chemours from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, ValuEngine downgraded Chemours from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $27.14.

Shares of NYSE:CC opened at $19.69 on Friday. The company has a debt-to-equity ratio of 5.05, a current ratio of 1.72 and a quick ratio of 1.09. The firm has a market capitalization of $3.23 billion, a PE ratio of 3.47, a price-to-earnings-growth ratio of 0.51 and a beta of 2.57. The firm’s 50-day moving average is $15.60 and its two-hundred day moving average is $19.81. Chemours has a 1 year low of $11.71 and a 1 year high of $41.60.

Chemours (NYSE:CC) last issued its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.03. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.40 billion. Chemours had a net margin of 7.24% and a return on equity of 58.38%. The business’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.49 earnings per share.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date of this dividend is Thursday, November 14th. Chemours’s dividend payout ratio is presently 17.64%.

In related news, COO Mark Newman acquired 20,000 shares of the stock in a transaction dated Wednesday, September 11th. The stock was acquired at an average cost of $16.42 per share, with a total value of $328,400.00. Following the completion of the transaction, the chief operating officer now owns 114,261 shares in the company, valued at approximately $1,876,165.62. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 2.34% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Investors Research Corp boosted its holdings in Chemours by 148.1% in the second 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 in the last quarter. Point72 Hong Kong Ltd acquired a new position in Chemours in the second quarter valued at approximately $29,000. Cerebellum GP LLC boosted its holdings in Chemours by 107.8% in the third quarter. Cerebellum GP LLC now owns 1,490 shares of the specialty chemicals company’s stock valued at $75,000 after purchasing an additional 773 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Chemours by 479.4% in the third quarter. Parallel Advisors LLC now owns 2,312 shares of the specialty chemicals company’s stock valued at $35,000 after purchasing an additional 1,913 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in Chemours by 423.4% in the third quarter. Quadrant Capital Group LLC now owns 2,727 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 2,206 shares in the last quarter. 79.88% 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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