The Chemours Company (NYSE:CC) Receives Consensus Rating of “Hold” from Brokerages

The Chemours Company (NYSE:CC) has been assigned a consensus rating of “Hold” from the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $31.63.

Several equities research analysts recently issued reports on the company. UBS Group increased their price objective on Chemours from $21.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Barclays decreased their price target on shares of Chemours from $32.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, April 2nd. Finally, BMO Capital Markets upgraded shares of Chemours from an “underperform” rating to an “outperform” rating and upped their price objective for the company from $19.00 to $34.00 in a research note on Tuesday, April 9th.

Chemours Trading Down 1.5 %

Shares of CC opened at $26.59 on Friday. The company has a current ratio of 1.61, a quick ratio of 0.99 and a debt-to-equity ratio of 5.26. Chemours has a 1-year low of $15.10 and a 1-year high of $39.05. The stock has a market capitalization of $3.96 billion, a P/E ratio of -12.25 and a beta of 1.99. The business’s 50-day moving average price is $27.44 and its 200 day moving average price is $28.18.

Chemours (NYSE:CC) last released its quarterly earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.07. Chemours had a negative net margin of 5.51% and a positive return on equity of 46.67%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the previous year, the business earned $0.98 earnings per share. The firm’s revenue was down 12.1% compared to the same quarter last year. Analysts expect that Chemours will post 1.88 earnings per share for the current year.

Chemours Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date is Tuesday, May 14th. Chemours’s dividend payout ratio is presently -46.08%.

Institutional Trading of Chemours

A number of institutional investors and hedge funds have recently made changes to their positions in CC. Deutsche Bank AG raised its stake in shares of Chemours by 4,407.9% in the 3rd quarter. Deutsche Bank AG now owns 1,759,419 shares of the specialty chemicals company’s stock valued at $49,352,000 after acquiring an additional 1,720,389 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Chemours by 50.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,763,368 shares of the specialty chemicals company’s stock valued at $150,237,000 after purchasing an additional 1,602,628 shares during the period. Khrom Capital Management LLC raised its position in shares of Chemours by 156.7% in the first quarter. Khrom Capital Management LLC now owns 2,235,659 shares of the specialty chemicals company’s stock valued at $58,708,000 after purchasing an additional 1,364,634 shares during the period. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Chemours by 91.5% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,645,676 shares of the specialty chemicals company’s stock worth $69,476,000 after buying an additional 1,263,875 shares during the period. Finally, Norges Bank acquired a new position in Chemours in the 4th quarter valued at $39,171,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

Chemours Company Profile

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through three segments: Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.