The Chemours Company to Issue Quarterly Dividend of $0.25 (NYSE:CC)

The Chemours Company (NYSE:CC) declared a quarterly dividend on Monday, April 29th, Wall Street Journal reports. Investors of record on Wednesday, May 15th will be paid a dividend of 0.25 per share by the specialty chemicals company on Friday, June 14th. This represents a $1.00 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend is Tuesday, May 14th.

Chemours Trading Down 3.3 %

Shares of CC stock opened at $26.77 on Wednesday. The stock has a 50-day simple moving average of $26.69 and a 200 day simple moving average of $27.84. Chemours has a fifty-two week low of $15.10 and a fifty-two week high of $39.05. The stock has a market capitalization of $3.99 billion, a P/E ratio of -17.27 and a beta of 2.00. The company has a quick ratio of 1.00, a current ratio of 1.54 and a debt-to-equity ratio of 5.40.

Chemours (NYSE:CC) last announced its earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.07. Chemours had a positive return on equity of 51.73% and a negative net margin of 3.80%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter last year, the business posted $0.98 earnings per share. The company’s quarterly revenue was down 12.1% on a year-over-year basis. On average, sell-side analysts expect that Chemours will post 2.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CC shares. Barclays decreased their price target on Chemours from $32.00 to $30.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 2nd. BMO Capital Markets upgraded Chemours from an “underperform” rating to an “outperform” rating and increased their price target for the company from $19.00 to $34.00 in a research report on Tuesday, April 9th. Finally, UBS Group increased their price target on Chemours from $21.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $31.63.

About Chemours

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, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.