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Chemours Company (The) stock price
Chemours Company (The) latest news:
Chemours shares rise after earnings beat
Chemours Co. shares surged in the extended session Wednesday after the company beat earnings expectations. The industrial material company's shares rose 5% to $51.46 after hours. The company reported fourth-quarter net income of $228 million, or $1.19 a share, compared with losses of $230 million, or losses of $1.26 a share, in the year-ago period. Adjusted earnings were also $1.19 a share. Revenue rose to $1.58 billion from $1.32 billion in the year-ago period. Analysts surveyed by FactSet had estimated 97 cents a share on revenue of $1.55 billion. For the first quarter, analysts model earnings of $1.12 a share on sales of $1.62 billion. Chemours stock has gained 53% in the past year, with the S&P 500 index rising 14%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Chemours stock erases sharp early loss to close higher after 5-fold dividend hike, new stock buyback plan
Shares of Chemours Co. used a late rally to close up 0.9% Friday, erasing earlier sharp losses, after the chemistry-based technology company announced a more than five-fold increase in its dividend and a new share repurchase agreement at its first investor day since the spinoff from Dupont. The company raised its quarterly dividend to 17 cents a share from 3 cents, payable March 15 to shareholders of record on Feb. 15. The company also authorized a $500 million share buyback program, which extends through 2020. Based on Friday's closing price of $51.84, that could represent about 5.2% of the shares outstanding. The company said the new capital allocation strategy comes after the completion of transformation plan, which helped lower its debt position to a leverage ratio of two-times adjusted EBITDA, below its previously-announced leverage target of three-times. Earlier Friday, the stock fell as much as 5.2%, as the company's 2018 free cash flow target of $500 million to $600 million was below some analyst expectations. The stock has now tacked on 3.7% over the past three months, but has more than doubled year to date, while the S&P 500 has gained 18% this year.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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