Chemours (NYSE:CC) Stock Price Down 5.8% – What’s Next?

The Chemours Company (NYSE:CC)’s share price dropped 5.8% during trading on Thursday . The stock traded as low as $20.42 and last traded at $20.9750. Approximately 929,412 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 3,317,872 shares. The stock had previously closed at $22.27.

Analysts Set New Price Targets

CC has been the topic of several research analyst reports. UBS Group upped their price objective on Chemours from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Morgan Stanley upped their price objective on Chemours from $17.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Mizuho set a $30.00 price objective on Chemours in a research report on Wednesday, May 6th. BMO Capital Markets cut their price objective on Chemours from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Monday, February 23rd. Finally, JPMorgan Chase & Co. increased their price target on Chemours from $17.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday. Six research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chemours has an average rating of “Hold” and an average price target of $23.55.

Chemours Stock Down 0.3%

The company has a current ratio of 1.82, a quick ratio of 0.87 and a debt-to-equity ratio of 18.98. The business has a 50-day moving average price of $22.43 and a 200-day moving average price of $17.34. The firm has a market cap of $3.21 billion, a P/E ratio of -8.10 and a beta of 1.47.

Chemours (NYSE:CC) last posted its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.10. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.40 billion. Chemours had a positive return on equity of 52.49% and a negative net margin of 6.82%.The business’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.13 EPS. On average, equities analysts forecast that The Chemours Company will post 1.27 EPS for the current fiscal year.

Chemours Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Investors of record on Sunday, May 17th will be paid a dividend of $0.0875 per share. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, May 15th. Chemours’s dividend payout ratio is -13.26%.

Institutional Investors Weigh In On Chemours

Hedge funds have recently made changes to their positions in the stock. Atlas Capital Advisors Inc. purchased a new stake in shares of Chemours during the 4th quarter worth $26,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Chemours during the 4th quarter worth $28,000. Covestor Ltd lifted its stake in shares of Chemours by 204.7% during the 4th quarter. Covestor Ltd now owns 2,602 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 1,748 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Chemours during the 4th quarter worth $31,000. Finally, Rothschild Investment LLC lifted its stake in shares of Chemours by 87.0% during the 4th quarter. Rothschild Investment LLC now owns 2,698 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 1,255 shares during the last quarter. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

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.