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Chemours (CC) Outpaces Stock Market Gains: What You Should Know
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Chemours (CC - Free Report) closed at $32.64 in the latest trading session, marking a +1.15% move from the prior day. This change outpaced the S&P 500's 0.21% gain on the day. Elsewhere, the Dow gained 0.19%, while the tech-heavy Nasdaq added 0.01%.
Heading into today, shares of the chemical company had gained 0.28% over the past month, outpacing the Basic Materials sector's loss of 11.73% and the S&P 500's loss of 8.08% in that time.
Wall Street will be looking for positivity from Chemours as it approaches its next earnings report date. This is expected to be May 2, 2022. The company is expected to report EPS of $0.92, up 29.58% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.54 billion, up 7.48% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.50 per share and revenue of $6.7 billion. These totals would mark changes of +12.5% and +5.57%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Chemours. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.28% lower. Chemours is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Chemours is holding a Forward P/E ratio of 7.18. For comparison, its industry has an average Forward P/E of 11.25, which means Chemours is trading at a discount to the group.
It is also worth noting that CC currently has a PEG ratio of 0.56. 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. Chemical - Diversified stocks are, on average, holding a PEG ratio of 1.08 based on yesterday's closing prices.
The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 156, putting it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow CC in the coming trading sessions, be sure to utilize Zacks.com.
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Chemours (CC) Outpaces Stock Market Gains: What You Should Know
Chemours (CC - Free Report) closed at $32.64 in the latest trading session, marking a +1.15% move from the prior day. This change outpaced the S&P 500's 0.21% gain on the day. Elsewhere, the Dow gained 0.19%, while the tech-heavy Nasdaq added 0.01%.
Heading into today, shares of the chemical company had gained 0.28% over the past month, outpacing the Basic Materials sector's loss of 11.73% and the S&P 500's loss of 8.08% in that time.
Wall Street will be looking for positivity from Chemours as it approaches its next earnings report date. This is expected to be May 2, 2022. The company is expected to report EPS of $0.92, up 29.58% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.54 billion, up 7.48% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.50 per share and revenue of $6.7 billion. These totals would mark changes of +12.5% and +5.57%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Chemours. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.28% lower. Chemours is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Chemours is holding a Forward P/E ratio of 7.18. For comparison, its industry has an average Forward P/E of 11.25, which means Chemours is trading at a discount to the group.
It is also worth noting that CC currently has a PEG ratio of 0.56. 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. Chemical - Diversified stocks are, on average, holding a PEG ratio of 1.08 based on yesterday's closing prices.
The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 156, putting it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow CC in the coming trading sessions, be sure to utilize Zacks.com.