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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 $28.77, moving -1.34% from the previous trading session. This change lagged the S&P 500's daily loss of 0.67%. At the same time, the Dow lost 0.33%, and the tech-heavy Nasdaq lost 0.22%.
Coming into today, shares of the chemical company had lost 5.11% in the past month. In that same time, the Basic Materials sector lost 1.68%, while the S&P 500 lost 3.76%.
Investors will be hoping for strength from Chemours as it approaches its next earnings release, which is expected to be October 25, 2022. The company is expected to report EPS of $1.16, down 8.66% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.77 billion, up 5.44% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.23 per share and revenue of $7.11 billion. These totals would mark changes of +30.75% and +11.97%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Chemours. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 6.48% lower. Chemours is currently sporting a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Chemours is currently trading at a Forward P/E ratio of 5.57. For comparison, its industry has an average Forward P/E of 9.01, which means Chemours is trading at a discount to the group.
Investors should also note that CC has a PEG ratio of 0.5 right now. 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 1.34 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 240, which puts it in the bottom 5% 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.
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) Dips More Than Broader Markets: What You Should Know
Chemours (CC - Free Report) closed the most recent trading day at $28.77, moving -1.34% from the previous trading session. This change lagged the S&P 500's daily loss of 0.67%. At the same time, the Dow lost 0.33%, and the tech-heavy Nasdaq lost 0.22%.
Coming into today, shares of the chemical company had lost 5.11% in the past month. In that same time, the Basic Materials sector lost 1.68%, while the S&P 500 lost 3.76%.
Investors will be hoping for strength from Chemours as it approaches its next earnings release, which is expected to be October 25, 2022. The company is expected to report EPS of $1.16, down 8.66% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.77 billion, up 5.44% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.23 per share and revenue of $7.11 billion. These totals would mark changes of +30.75% and +11.97%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Chemours. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 6.48% lower. Chemours is currently sporting a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Chemours is currently trading at a Forward P/E ratio of 5.57. For comparison, its industry has an average Forward P/E of 9.01, which means Chemours is trading at a discount to the group.
Investors should also note that CC has a PEG ratio of 0.5 right now. 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 1.34 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 240, which puts it in the bottom 5% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.