The Chemours Company (NYSE:CC) Receives Consensus Recommendation of “Hold” from Analysts

The Chemours Company (NYSE:CC) has earned an average rating of “Hold” from the twelve research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $24.10.

CC has been the subject of several recent analyst reports. Truist Financial raised their target price on Chemours from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. UBS Group boosted their price target on Chemours from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Weiss Ratings restated a “sell (d)” rating on shares of Chemours in a report on Monday, April 20th. Mizuho reduced their price objective on shares of Chemours from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Morgan Stanley lifted their price objective on shares of Chemours from $17.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th.

Hedge Funds Weigh In On Chemours

Several institutional investors have recently made changes to their positions in CC. Cooper Creek Partners Management LLC acquired a new stake in shares of Chemours in the 3rd quarter valued at about $63,103,000. Scopia Capital Management LP boosted its holdings in Chemours by 71.7% in the second quarter. Scopia Capital Management LP now owns 3,355,261 shares of the specialty chemicals company’s stock worth $38,418,000 after acquiring an additional 1,401,539 shares in the last quarter. State Street Corp boosted its holdings in Chemours by 22.7% in the second quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company’s stock worth $70,009,000 after acquiring an additional 1,131,682 shares in the last quarter. Wolf Hill Capital Management LP acquired a new stake in Chemours in the third quarter valued at approximately $17,025,000. Finally, Sona Asset Management US LLC grew its stake in Chemours by 176.9% in the fourth quarter. Sona Asset Management US LLC now owns 1,651,275 shares of the specialty chemicals company’s stock valued at $19,469,000 after acquiring an additional 1,055,000 shares during the period. Institutional investors and hedge funds own 76.26% of the company’s stock.

Chemours Price Performance

CC stock opened at $20.12 on Thursday. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of -7.62 and a beta of 1.41. The company has a quick ratio of 0.87, a current ratio of 1.82 and a debt-to-equity ratio of 18.98. Chemours has a 12-month low of $10.44 and a 12-month high of $28.67. The company’s fifty day simple moving average is $22.70 and its 200 day simple moving average is $19.20.

Chemours (NYSE:CC) last issued its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.10. The firm had revenue of $1.38 billion during 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 period last year, the business posted $0.13 EPS. On average, analysts expect that Chemours will post 1.07 earnings per share for the current year.

Chemours Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Sunday, May 17th were issued a $0.0875 dividend. This represents a $0.35 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, May 15th. Chemours’s dividend payout ratio (DPR) is presently -13.26%.

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.