Zacks Research Brokers Reduce Earnings Estimates for The Chemours Company (NYSE:CC)

The Chemours Company (NYSE:CC) – Stock analysts at Zacks Research reduced their Q3 2024 EPS estimates for Chemours in a research note issued on Wednesday, August 14th. Zacks Research analyst M. Agrawal now anticipates that the specialty chemicals company will post earnings per share of $0.38 for the quarter, down from their previous forecast of $0.58. The consensus estimate for Chemours’ current full-year earnings is $1.81 per share. Zacks Research also issued estimates for Chemours’ FY2024 earnings at $1.26 EPS, Q3 2025 earnings at $0.61 EPS, Q4 2025 earnings at $0.43 EPS, FY2025 earnings at $2.40 EPS, Q2 2026 earnings at $0.81 EPS and FY2026 earnings at $2.62 EPS.

Chemours (NYSE:CC) last issued its quarterly earnings data on Thursday, August 1st. The specialty chemicals company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.19). The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Chemours had a net margin of 2.16% and a return on equity of 32.93%. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.10 EPS.

Several other research firms have also issued reports on CC. UBS Group lowered their price objective on Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Mizuho started coverage on shares of Chemours in a research note on Friday, June 7th. They issued a “neutral” rating and a $25.00 price objective for the company. Barclays reduced their price target on Chemours from $30.00 to $22.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 6th. BMO Capital Markets lowered their target price on shares of Chemours from $35.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, August 6th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Chemours from $25.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $27.63.

Chemours Stock Performance

NYSE CC opened at $18.65 on Monday. The business has a 50 day simple moving average of $22.50 and a two-hundred day simple moving average of $25.49. Chemours has a 1-year low of $15.10 and a 1-year high of $35.15. The stock has a market capitalization of $2.78 billion, a PE ratio of -8.59 and a beta of 1.80. The company has a debt-to-equity ratio of 5.26, a current ratio of 1.61 and a quick ratio of 0.99.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CC. William B. Walkup & Associates Inc. purchased a new position in shares of Chemours in the 2nd quarter valued at about $107,000. Scientech Research LLC purchased a new position in shares of Chemours in the second quarter valued at approximately $357,000. Mackenzie Financial Corp boosted its stake in shares of Chemours by 16.4% in the second quarter. Mackenzie Financial Corp now owns 877,246 shares of the specialty chemicals company’s stock worth $19,799,000 after acquiring an additional 123,418 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Chemours by 28.1% during the second quarter. AQR Capital Management LLC now owns 158,585 shares of the specialty chemicals company’s stock worth $3,579,000 after purchasing an additional 34,817 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in Chemours in the 2nd quarter valued at $789,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Chemours Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 15th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.36%. The ex-dividend date of this dividend is Thursday, August 15th. Chemours’s dividend payout ratio is presently -46.08%.

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.