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Chemours (CC) Hits New 52-Week High: What's Driving It?
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Shares of chemical maker, The Chemours Company (CC - Free Report) scaled a fresh 52-week high of $52.15 on Sep 20, before pulling back to eventually close the day at $51.80.
Chemours has a market cap of roughly $9.6 billion and average volume of shares traded in the last three months is around 2,587.3K. The company has an expected long-term earnings per share growth of around 15.5%.
Shares of Chemours have moved up 40.7% in the last three months, significantly outperforming the industry’s 10.1% growth.
Driving Factors
Chemours recorded net income of $161 million or 84 cents per share in second-quarter 2017, against net loss of $18 million or 10 cents reported a year ago. Net sales for the quarter were $1,588 million, up roughly 15% year over year. Sales were driven by higher volumes across the board.
Chemours raised its full-year 2017 outlook on the back of strong second-quarter results. The company now expects adjusted EBITDA for 2017 to be $1.3-$1.4 billion compared with its earlier view of $1.15-$1.25 billion. The revised guidance takes into account the gains from Chemours’ transformation plan initiatives, reduced transformation-related costs in the second half and strength across the company’s major end markets.
Chemours is expected to benefit from strength across its portfolio and improving end market conditions through the remainder of 2017. It is also likely to gain from its sustained efforts to reduce costs, improve cash generation and strengthen the balance sheet. Moreover, the company is anticipated to continue to benefit from increased customer adoption of both Ti-Pure titanium dioxide and Opteon refrigerants.
Sociedad Quimica has an expected long-term earnings growth rate of 32.5%.
Koppers Holdings has an expected long-term earnings growth rate of 18%.
Kronos Worldwide has an expected long-term earnings growth rate of 5%.
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With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
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Chemours (CC) Hits New 52-Week High: What's Driving It?
Shares of chemical maker, The Chemours Company (CC - Free Report) scaled a fresh 52-week high of $52.15 on Sep 20, before pulling back to eventually close the day at $51.80.
Chemours has a market cap of roughly $9.6 billion and average volume of shares traded in the last three months is around 2,587.3K. The company has an expected long-term earnings per share growth of around 15.5%.
Shares of Chemours have moved up 40.7% in the last three months, significantly outperforming the industry’s 10.1% growth.
Driving Factors
Chemours recorded net income of $161 million or 84 cents per share in second-quarter 2017, against net loss of $18 million or 10 cents reported a year ago. Net sales for the quarter were $1,588 million, up roughly 15% year over year. Sales were driven by higher volumes across the board.
Chemours raised its full-year 2017 outlook on the back of strong second-quarter results. The company now expects adjusted EBITDA for 2017 to be $1.3-$1.4 billion compared with its earlier view of $1.15-$1.25 billion. The revised guidance takes into account the gains from Chemours’ transformation plan initiatives, reduced transformation-related costs in the second half and strength across the company’s major end markets.
Chemours is expected to benefit from strength across its portfolio and improving end market conditions through the remainder of 2017. It is also likely to gain from its sustained efforts to reduce costs, improve cash generation and strengthen the balance sheet. Moreover, the company is anticipated to continue to benefit from increased customer adoption of both Ti-Pure titanium dioxide and Opteon refrigerants.
Chemours Company (The) Price and Consensus
Chemours Company (The) Price and Consensus | Chemours Company (The) Quote
Zacks Rank & Key Picks
Chemours currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Sociedad Quimica y Minera de Chile S.A. (SQM - Free Report) , Koppers Holdings Inc. (KOP - Free Report) and Kronos Worldwide Inc. (KRO - Free Report) . All three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.
Sociedad Quimica has an expected long-term earnings growth rate of 32.5%.
Koppers Holdings has an expected long-term earnings growth rate of 18%.
Kronos Worldwide has an expected long-term earnings growth rate of 5%.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
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