Chemours (NYSE:CC) Releases Earnings Results, Beats Estimates By $0.09 EPS
Chemours (NYSE:CC) released its earnings results on Thursday. The specialty chemicals company reported $0.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.09, MarketWatch Earnings reports. Chemours had a negative net margin of 2.28% and a positive return on equity of 46.11%. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.08 billion.
NYSE CC traded up $0.53 on Friday, hitting $18.53. The stock had a trading volume of 2,800,605 shares, compared to its average volume of 1,468,352. Chemours has a 52-week low of $7.02 and a 52-week high of $20.23. The company has a debt-to-equity ratio of 6.42, a quick ratio of 1.10 and a current ratio of 1.93. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of -25.74 and a beta of 2.44. The firm has a 50-day moving average of $15.99 and a 200-day moving average of $13.88.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 17th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.40%. The ex-dividend date is Friday, August 14th. Chemours’s dividend payout ratio is presently 39.84%.
In other news, COO Mark Newman bought 2,500 shares of the stock in a transaction on Thursday, May 7th. The shares were acquired at an average cost of $11.62 per share, for a total transaction of $29,050.00. Following the purchase, the chief operating officer now directly owns 132,344 shares of the company’s stock, valued at approximately $1,537,837.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.72% of the company’s stock.
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, 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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