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

The Chemours Company (NYSE:CC) declared a quarterly dividend on Tuesday, February 18th, Wall Street Journal reports. Shareholders of record on Friday, February 28th will be given a dividend of 0.25 per share by the specialty chemicals company on Friday, March 14th. This represents a $1.00 annualized dividend and a yield of 6.30%. The ex-dividend date of this dividend is Friday, February 28th.

Chemours has a dividend payout ratio of 35.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Chemours to earn $2.71 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 36.9%.

Chemours Trading Up 0.4 %

NYSE CC opened at $15.86 on Wednesday. The firm’s fifty day simple moving average is $17.99 and its 200-day simple moving average is $18.89. The company has a current ratio of 1.68, a quick ratio of 0.92 and a debt-to-equity ratio of 6.70. Chemours has a 1-year low of $14.94 and a 1-year high of $29.44. The company has a market capitalization of $2.37 billion, a PE ratio of 28.04 and a beta of 1.81.

Chemours (NYSE:CC) last announced its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.37 billion. Chemours had a net margin of 1.51% and a return on equity of 26.54%. As a group, sell-side analysts anticipate that Chemours will post 2.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CC has been the topic of a number of analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $25.00 price objective on shares of Chemours in a report on Thursday, December 12th. The Goldman Sachs Group dropped their price target on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Barclays decreased their price objective on shares of Chemours from $23.00 to $19.00 and set an “equal weight” rating for the company in a report on Monday. Morgan Stanley cut their target price on shares of Chemours from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Finally, BMO Capital Markets lowered their price target on Chemours from $34.00 to $27.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $23.11.

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.