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Chemours (CC) closed at $33.02 in the latest trading session, marking a +0.82% move from the prior day. The stock outpaced the S&P 500's daily loss of 1.22%. At the same time, the Dow lost 0.19%, and the tech-heavy Nasdaq lost 0.54%.
Heading into today, shares of the chemical company had gained 0.58% over the past month, outpacing the Basic Materials sector's loss of 1.19% and the S&P 500's loss of 6.58% in that time.
Chemours will be looking to display strength as it nears its next earnings release, which is expected to be February 10, 2022. The company is expected to report EPS of $0.87, up 42.62% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.49 billion, up 14.67% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Chemours. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 0.58% higher. Chemours is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Chemours is holding a Forward P/E ratio of 7.54. This valuation marks a discount compared to its industry's average Forward P/E of 12.42.
Meanwhile, CC's PEG ratio is currently 0.28. 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 was holding an average PEG ratio of 1.15 at yesterday's closing price.
The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 172, putting it in the bottom 33% 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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