Chemours (NYSE:CC) Issues Earnings Results, Beats Estimates By $0.01 EPS

Chemours (NYSE:CC) announced its quarterly earnings results on Tuesday. The specialty chemicals company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01, Zacks reports. Chemours had a return on equity of 29.48% and a net margin of 1.34%.

Chemours Trading Down 5.6 %

NYSE:CC opened at $16.80 on Tuesday. The stock has a fifty day moving average price of $18.29 and a two-hundred day moving average price of $18.97. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 33.59 and a beta of 1.81. The company has a debt-to-equity ratio of 6.05, a quick ratio of 0.92 and a current ratio of 1.73. Chemours has a 1 year low of $15.10 and a 1 year high of $29.83.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CC. Royal Bank of Canada reissued an “outperform” rating and issued a $25.00 price objective on shares of Chemours in a report on Thursday, December 12th. Truist Financial began coverage on Chemours in a report on Tuesday, January 28th. They issued a “buy” rating and a $27.00 price objective for the company. The Goldman Sachs Group decreased their price objective on Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Barclays increased their price objective on Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Finally, Mizuho cut their price target on Chemours from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $24.11.

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, 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.