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

The Chemours Company (NYSE:CC) has been given an average recommendation of “Hold” by the eleven research firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $17.00.

Several research analysts have issued reports on the company. Zacks Research cut Chemours from a “hold” rating to a “strong sell” rating in a report on Friday, October 17th. Royal Bank Of Canada reduced their target price on Chemours from $19.00 to $17.00 and set an “outperform” rating for the company in a report on Monday, November 10th. Weiss Ratings reissued a “sell (d)” rating on shares of Chemours in a research note on Wednesday, October 8th. Mizuho cut their price objective on Chemours from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, October 16th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Chemours from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, December 3rd.

Chemours Price Performance

Shares of Chemours stock opened at $11.82 on Friday. Chemours has a 52 week low of $9.13 and a 52 week high of $20.12. The company has a current ratio of 1.71, a quick ratio of 0.88 and a debt-to-equity ratio of 13.66. The stock has a market cap of $1.77 billion, a PE ratio of -5.32 and a beta of 1.59. The company’s 50-day moving average price is $12.61 and its two-hundred day moving average price is $13.42.

Chemours (NYSE:CC) last announced its quarterly earnings data on Thursday, November 6th. The specialty chemicals company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.04). Chemours had a positive return on equity of 35.27% and a negative net margin of 5.70%.The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the firm earned $0.40 EPS. The business’s revenue for the quarter was down .9% on a year-over-year basis. As a group, sell-side analysts anticipate that Chemours will post 2.03 EPS for the current fiscal year.

Chemours Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 14th were given a dividend of $0.0875 per share. This represents a $0.35 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, November 14th. Chemours’s payout ratio is presently -15.77%.

Institutional Trading of Chemours

A number of hedge funds have recently modified their holdings of CC. MTM Investment Management LLC acquired a new position in Chemours in the 2nd quarter worth about $27,000. GAMMA Investing LLC lifted its holdings in shares of Chemours by 130.7% during the 2nd quarter. GAMMA Investing LLC now owns 3,175 shares of the specialty chemicals company’s stock valued at $36,000 after buying an additional 1,799 shares during the last quarter. Evelyn Partners Asset Management Ltd bought a new stake in shares of Chemours in the 2nd quarter valued at approximately $37,000. Caitong International Asset Management Co. Ltd acquired a new position in Chemours in the third quarter worth approximately $43,000. Finally, FNY Investment Advisers LLC raised its position in Chemours by 100.0% during the second quarter. FNY Investment Advisers LLC now owns 4,000 shares of the specialty chemicals company’s stock valued at $45,000 after acquiring an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

About Chemours

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours’ principal business activities are organized into three core segments.