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Chemours (CC) Dips More Than Broader Markets: What You Should Know
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Chemours (CC - Free Report) closed the most recent trading day at $26.53, moving -1.38% from the previous trading session. This change lagged the S&P 500's 0.65% loss on the day. Meanwhile, the Dow gained 0.12%, and the Nasdaq, a tech-heavy index, added 0.03%.
Prior to today's trading, shares of the chemical company had lost 26.54% over the past month. This has lagged the Basic Materials sector's loss of 8.56% and the S&P 500's loss of 11.07% in that time.
Investors will be hoping for strength from Chemours as it approaches its next earnings release, which is expected to be October 25, 2022. On that day, Chemours is projected to report earnings of $1.16 per share, which would represent a year-over-year decline of 8.66%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.77 billion, up 5.44% from the year-ago period.
CC's full-year Zacks Consensus Estimates are calling for earnings of $5.23 per share and revenue of $7.11 billion. These results would represent year-over-year changes of +30.75% and +11.97%, respectively.
Any recent changes to analyst estimates for Chemours should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 6.48% lower. Chemours is currently a Zacks Rank #4 (Sell).
Looking at its valuation, Chemours is holding a Forward P/E ratio of 5.14. This valuation marks a discount compared to its industry's average Forward P/E of 8.48.
Investors should also note that CC has a PEG ratio of 0.46 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Chemical - Diversified was holding an average PEG ratio of 1.28 at yesterday's closing price.
The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 229, putting it in the bottom 10% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Chemours (CC) Dips More Than Broader Markets: What You Should Know
Chemours (CC - Free Report) closed the most recent trading day at $26.53, moving -1.38% from the previous trading session. This change lagged the S&P 500's 0.65% loss on the day. Meanwhile, the Dow gained 0.12%, and the Nasdaq, a tech-heavy index, added 0.03%.
Prior to today's trading, shares of the chemical company had lost 26.54% over the past month. This has lagged the Basic Materials sector's loss of 8.56% and the S&P 500's loss of 11.07% in that time.
Investors will be hoping for strength from Chemours as it approaches its next earnings release, which is expected to be October 25, 2022. On that day, Chemours is projected to report earnings of $1.16 per share, which would represent a year-over-year decline of 8.66%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.77 billion, up 5.44% from the year-ago period.
CC's full-year Zacks Consensus Estimates are calling for earnings of $5.23 per share and revenue of $7.11 billion. These results would represent year-over-year changes of +30.75% and +11.97%, respectively.
Any recent changes to analyst estimates for Chemours should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 6.48% lower. Chemours is currently a Zacks Rank #4 (Sell).
Looking at its valuation, Chemours is holding a Forward P/E ratio of 5.14. This valuation marks a discount compared to its industry's average Forward P/E of 8.48.
Investors should also note that CC has a PEG ratio of 0.46 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Chemical - Diversified was holding an average PEG ratio of 1.28 at yesterday's closing price.
The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 229, putting it in the bottom 10% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.