Equities research analysts predict that Chemours Co (NYSE:CC) will announce $1.37 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Chemours’ earnings. Chemours reported sales of $1.46 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 6.2%. The company is expected to announce its next quarterly earnings report on Thursday, February 13th.
According to Zacks, analysts expect that Chemours will report full year sales of $5.53 billion for the current financial year, with estimates ranging from $5.49 billion to $5.55 billion. For the next financial year, analysts forecast that the business will post sales of $5.75 billion, with estimates ranging from $5.42 billion to $6.03 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Chemours.
Chemours (NYSE:CC) last released its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.03. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.40 billion. Chemours had a net margin of 7.24% and a return on equity of 58.38%. Chemours’s quarterly revenue was down 14.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.49 EPS.
CC stock traded down $0.06 during mid-day trading on Monday, reaching $16.18. The company’s stock had a trading volume of 2,884,866 shares, compared to its average volume of 2,568,564. The stock has a market cap of $2.66 billion, a PE ratio of 6.77, a P/E/G ratio of 0.35 and a beta of 2.55. The company has a current ratio of 1.72, a quick ratio of 0.98 and a debt-to-equity ratio of 5.05. Chemours has a fifty-two week low of $11.71 and a fifty-two week high of $41.60. The company’s 50 day moving average is $17.30 and its two-hundred day moving average is $16.41.
Several institutional investors have recently bought and sold shares of the company. Invesco Ltd. grew its stake in shares of Chemours by 171.4% in the 2nd quarter. Invesco Ltd. now owns 2,466,635 shares of the specialty chemicals company’s stock valued at $59,199,000 after buying an additional 1,557,746 shares during the period. Morgan Stanley boosted its position in shares of Chemours by 185.7% during the 2nd quarter. Morgan Stanley now owns 683,729 shares of the specialty chemicals company’s stock worth $16,410,000 after purchasing an additional 444,424 shares during the period. DNB Asset Management AS boosted its position in shares of Chemours by 1.0% during the 4th quarter. DNB Asset Management AS now owns 648,601 shares of the specialty chemicals company’s stock worth $11,733,000 after purchasing an additional 6,711 shares during the period. Parametric Portfolio Associates LLC boosted its position in shares of Chemours by 117.3% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 625,674 shares of the specialty chemicals company’s stock worth $9,348,000 after purchasing an additional 337,725 shares during the period. Finally, Luminus Management LLC boosted its position in shares of Chemours by 4.4% during the 2nd quarter. Luminus Management LLC now owns 524,175 shares of the specialty chemicals company’s stock worth $12,580,000 after purchasing an additional 22,105 shares during the period. 76.22% of the stock is owned by institutional investors and hedge funds.
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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