Analysts Anticipate Chemours Co (NYSE:CC) Will Announce Quarterly Sales of $1.37 Billion

Wall Street analysts predict that Chemours Co (NYSE:CC) will announce $1.37 billion in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Chemours’ earnings. Chemours reported sales of $1.46 billion during the same quarter last year, which would suggest a negative year over year growth rate of 6.2%. The company is expected to announce its next earnings results after the market closes on Thursday, February 13th.

According to Zacks, analysts expect that Chemours will report full-year sales of $5.53 billion for the current financial year, with estimates ranging from $5.49 billion to $5.55 billion. For the next financial year, analysts anticipate that the firm will post sales of $5.75 billion, with estimates ranging from $5.42 billion to $6.03 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Chemours.

Chemours (NYSE:CC) last announced its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.40 billion. Chemours had a return on equity of 58.38% and a net margin of 7.24%. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.49 EPS.

Several research analysts have recently commented on the company. Royal Bank of Canada reiterated a “hold” rating and set a $19.00 price target on shares of Chemours in a report on Sunday, December 22nd. SunTrust Banks lifted their price target on Chemours to $20.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. reduced their price target on Chemours from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. UBS Group reduced their price target on Chemours from $19.00 to $14.50 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Finally, Cfra upgraded Chemours from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $23.15.

Shares of NYSE CC traded down $0.59 during trading on Monday, hitting $15.59. 2,770,962 shares of the company were exchanged, compared to its average volume of 2,158,042. Chemours has a 12-month low of $11.71 and a 12-month high of $41.60. The company has a debt-to-equity ratio of 5.05, a quick ratio of 0.98 and a current ratio of 1.72. The company has a fifty day moving average price of $17.33 and a 200-day moving average price of $16.36. The firm has a market capitalization of $2.65 billion, a PE ratio of 6.52, a P/E/G ratio of 0.34 and a beta of 2.55.

Several large investors have recently modified their holdings of CC. Invesco Ltd. increased its position in shares of Chemours by 171.4% during the 2nd quarter. Invesco Ltd. now owns 2,466,635 shares of the specialty chemicals company’s stock worth $59,199,000 after purchasing an additional 1,557,746 shares during the last quarter. Alberta Investment Management Corp increased its position in shares of Chemours by 1,419.1% during the 3rd quarter. Alberta Investment Management Corp now owns 486,100 shares of the specialty chemicals company’s stock worth $7,262,000 after purchasing an additional 454,100 shares during the last quarter. Morgan Stanley increased its position in shares of Chemours by 185.7% during the 2nd quarter. Morgan Stanley now owns 683,729 shares of the specialty chemicals company’s stock worth $16,410,000 after purchasing an additional 444,424 shares during the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of Chemours during the 2nd quarter worth about $9,095,000. Finally, Parametric Portfolio Associates LLC increased its position in shares of Chemours by 117.3% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 625,674 shares of the specialty chemicals company’s stock worth $9,348,000 after purchasing an additional 337,725 shares during the last quarter. 76.22% of the stock is owned by hedge funds and other institutional investors.

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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