Chemours (NYSE:CC) Updates FY 2021 Earnings Guidance

Chemours (NYSE:CC) updated its FY 2021 earnings guidance on Thursday. The company provided earnings per share guidance of $3.930-$4.130 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.670. The company issued revenue guidance of -.

Separately, Royal Bank of Canada raised their price target on Chemours from $40.00 to $45.00 and gave the stock an outperform rating in a research note on Monday, November 8th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Buy and a consensus price target of $38.33.

Chemours stock traded down $0.60 during midday trading on Thursday, hitting $32.52. 825,870 shares of the company were exchanged, compared to its average volume of 1,342,504. The company has a debt-to-equity ratio of 3.83, a current ratio of 1.89 and a quick ratio of 1.32. Chemours has a fifty-two week low of $23.30 and a fifty-two week high of $38.87. The company’s fifty day moving average price is $30.32 and its 200-day moving average price is $32.70. The company has a market cap of $5.30 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 0.22 and a beta of 2.12.

Chemours (NYSE:CC) last posted its quarterly earnings data on Thursday, November 4th. The specialty chemicals company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.28. Chemours had a return on equity of 72.01% and a net margin of 6.51%. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the business earned $0.47 EPS. Chemours’s revenue for the quarter was up 36.3% compared to the same quarter last year. On average, analysts expect that Chemours will post 4.06 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 15th. Stockholders of record on Monday, November 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.08%. Chemours’s dividend payout ratio (DPR) is 42.74%.

In related news, SVP David C. Shelton sold 8,689 shares of the company’s stock in a transaction on Friday, August 27th. The stock was sold at an average price of $35.00, for a total transaction of $304,115.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark P. Vergnano sold 87,360 shares of the company’s stock in a transaction on Friday, August 27th. The stock was sold at an average price of $35.00, for a total value of $3,057,600.00. The disclosure for this sale can be found here. Insiders sold a total of 158,305 shares of company stock valued at $5,540,675 over the last quarter. Company insiders own 2.78% of the company’s stock.

A hedge fund recently raised its stake in Chemours stock. Morgan Stanley grew its holdings in shares of The Chemours Company (NYSE:CC) by 84.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 1,290,544 shares of the specialty chemicals company’s stock after acquiring an additional 592,395 shares during the quarter. Morgan Stanley owned about 0.78% of Chemours worth $44,912,000 as of its most recent SEC filing. 73.38% of the stock is currently owned by hedge funds and other institutional investors.

About Chemours

The Chemours Co is a holding company that engages in the provision of performance chemicals. The firm deliver solutions, which include a range of industrial and chemicals products for markets, including coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and consumer electronics, general industrial, mining, and oil & gas.

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Earnings History and Estimates for Chemours (NYSE:CC)

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