The Chemours Company (CC) to Issue Quarterly Dividend of $0.09 on September 15th

The Chemours Company (NYSE:CC) announced a quarterly dividend on Tuesday, August 4th. Investors of record on Friday, August 14th will be paid a dividend of 0.0875 per share by the specialty chemicals company on Tuesday, September 15th. This represents a c) annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, August 14th.

Chemours has decreased its dividend by an average of 0.1%per year over the last three years. Chemours has a dividend payout ratio of 14.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Chemours to earn $2.24 per share next year, which means the company should continue to be able to cover its $0.35 annual dividend with an expected future payout ratio of 15.6%.

Chemours Stock Down 18.3%

Shares of Chemours stock opened at $14.64 on Thursday. The business has a 50-day moving average price of $19.51 and a 200 day moving average price of $20.06. Chemours has a fifty-two week low of $10.44 and a fifty-two week high of $28.67. The firm has a market cap of $2.20 billion, a P/E ratio of -7.67 and a beta of 1.43. The company has a quick ratio of 0.87, a current ratio of 1.82 and a debt-to-equity ratio of 18.98.

Chemours (NYSE:CC) last released its earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.07). The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.65 billion. Chemours had a positive return on equity of 42.63% and a negative net margin of 5.00%.The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the business earned ($2.54) EPS. On average, sell-side analysts forecast that Chemours will post 1.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Mizuho set a $22.00 price objective on shares of Chemours in a report on Wednesday. Zacks Research raised Chemours from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. UBS Group lifted their price objective on shares of Chemours from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. JPMorgan Chase & Co. increased their price objective on Chemours from $17.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, May 21st. Finally, Truist Financial increased their price target on Chemours from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.80.

About Chemours

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours’ principal business activities are organized into three core segments.