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

The Chemours Company (NYSE:CC) announced a quarterly dividend on Tuesday, February 18th,Wall Street Journal reports. Shareholders of record on Friday, February 28th will be paid a dividend of 0.25 per share by the specialty chemicals company on Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.84%. The ex-dividend date is Friday, February 28th.

Chemours has a dividend payout ratio of 33.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Chemours to earn $2.08 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 48.1%.

Chemours Stock Down 2.0 %

Shares of CC opened at $17.13 on Thursday. Chemours has a 52-week low of $15.10 and a 52-week high of $29.83. The company has a market capitalization of $2.56 billion, a PE ratio of 34.26 and a beta of 1.81. The stock has a fifty day simple moving average of $18.17 and a two-hundred day simple moving average of $18.94. The company has a quick ratio of 0.92, a current ratio of 1.73 and a debt-to-equity ratio of 6.05.

Chemours (NYSE:CC) last announced its earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. Chemours had a return on equity of 29.48% and a net margin of 1.34%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.37 billion. As a group, equities analysts forecast that Chemours will post 1.21 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CC. Barclays lifted their price objective on Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Morgan Stanley decreased their price objective on Chemours from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 price objective on shares of Chemours in a research note on Thursday, December 12th. Mizuho decreased their price objective on Chemours from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Finally, BMO Capital Markets decreased their target price on Chemours from $34.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Chemours presently has a consensus rating of “Hold” and an average target price of $23.56.

About Chemours

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.