Chemours (NYSE:CC) issued an update on its FY20 earnings guidance on Thursday morning. The company provided EPS guidance of $2.60-$3.55 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.22. Chemours also updated its FY 2020
After-Hours guidance to 2.60-3.55 EPS.
Shares of NYSE CC traded up $3.69 during trading on Friday, reaching $19.37. The company had a trading volume of 12,647,751 shares. The company’s fifty day moving average price is $16.20 and its 200-day moving average price is $15.86. Chemours has a 12 month low of $11.71 and a 12 month high of $41.60.
Chemours (NYSE:CC) last released its quarterly earnings results on Thursday, February 13th. The specialty chemicals company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.14. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.37 billion. As a group, analysts forecast that Chemours will post 2.93 earnings per share for the current fiscal year.
CC has been the topic of several research analyst reports. SunTrust Banks upped their target price on Chemours to $20.00 and gave the company a hold rating in a research report on Wednesday, November 6th. ValuEngine upgraded Chemours from a sell rating to a hold rating in a research report on Friday, January 3rd. Cfra upgraded Chemours from a buy rating to a strong-buy rating in a research report on Friday. JPMorgan Chase & Co. cut their target price on Chemours from $21.00 to $19.00 and set a neutral rating on the stock in a research report on Friday, December 20th. Finally, Royal Bank of Canada restated a hold rating and set a $19.00 target price on shares of Chemours in a research report on Sunday, December 22nd. Nine research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $23.15.
In related news, CEO Mark P. Vergnano sold 220,759 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $16.00, for a total transaction of $3,532,144.00. Following the sale, the chief executive officer now owns 398,937 shares in the company, valued at approximately $6,382,992. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.34% of the stock is owned by corporate insiders.
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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