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Chemours (CC) Outpaces Stock Market Gains: What You Should Know
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Chemours (CC - Free Report) closed at $32.18 in the latest trading session, marking a +1.71% move from the prior day. This change outpaced the S&P 500's 1.23% gain on the day. Elsewhere, the Dow gained 0.97%, while the tech-heavy Nasdaq added 0.44%.
Heading into today, shares of the chemical company had gained 14.64% over the past month, outpacing the Basic Materials sector's gain of 9.15% and the S&P 500's gain of 4.69% in that time.
Wall Street will be looking for positivity from Chemours as it approaches its next earnings report date. On that day, Chemours is projected to report earnings of $0.90 per share, which would represent year-over-year growth of 26.76%. Meanwhile, our latest consensus estimate is calling for revenue of $1.54 billion, up 7.04% from the prior-year quarter.
CC's full-year Zacks Consensus Estimates are calling for earnings of $4.51 per share and revenue of $6.67 billion. These results would represent year-over-year changes of +12.75% and +5.15%, respectively.
Any recent changes to analyst estimates for Chemours should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Chemours is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Chemours is holding a Forward P/E ratio of 7.02. For comparison, its industry has an average Forward P/E of 12.38, which means Chemours is trading at a discount to the group.
Meanwhile, CC's PEG ratio is currently 0.55. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Chemical - Diversified industry currently had an average PEG ratio of 0.93 as of yesterday's close.
The Chemical - Diversified industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 178, which puts it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Chemours (CC) Outpaces Stock Market Gains: What You Should Know
Chemours (CC - Free Report) closed at $32.18 in the latest trading session, marking a +1.71% move from the prior day. This change outpaced the S&P 500's 1.23% gain on the day. Elsewhere, the Dow gained 0.97%, while the tech-heavy Nasdaq added 0.44%.
Heading into today, shares of the chemical company had gained 14.64% over the past month, outpacing the Basic Materials sector's gain of 9.15% and the S&P 500's gain of 4.69% in that time.
Wall Street will be looking for positivity from Chemours as it approaches its next earnings report date. On that day, Chemours is projected to report earnings of $0.90 per share, which would represent year-over-year growth of 26.76%. Meanwhile, our latest consensus estimate is calling for revenue of $1.54 billion, up 7.04% from the prior-year quarter.
CC's full-year Zacks Consensus Estimates are calling for earnings of $4.51 per share and revenue of $6.67 billion. These results would represent year-over-year changes of +12.75% and +5.15%, respectively.
Any recent changes to analyst estimates for Chemours should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Chemours is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Chemours is holding a Forward P/E ratio of 7.02. For comparison, its industry has an average Forward P/E of 12.38, which means Chemours is trading at a discount to the group.
Meanwhile, CC's PEG ratio is currently 0.55. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Chemical - Diversified industry currently had an average PEG ratio of 0.93 as of yesterday's close.
The Chemical - Diversified industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 178, which puts it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.