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

Shares of The Chemours Company (NYSE:CC) have received a consensus recommendation of “Hold” from the eight brokerages that are currently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $30.38.

Several brokerages have weighed in on CC. UBS Group upgraded Chemours from a “neutral” rating to a “buy” rating and upped their price target for the stock from $28.00 to $30.00 in a report on Tuesday, July 9th. Mizuho initiated coverage on Chemours in a research report on Friday, June 7th. They set a “neutral” rating and a $25.00 price objective for the company. Finally, BMO Capital Markets raised Chemours from an “underperform” rating to an “outperform” rating and increased their target price for the stock from $19.00 to $34.00 in a research note on Tuesday, April 9th.

Institutional Investors Weigh In On Chemours

Hedge funds have recently made changes to their positions in the business. Hexagon Capital Partners LLC acquired a new stake in shares of Chemours during the fourth quarter worth $25,000. New Covenant Trust Company N.A. purchased a new position in Chemours in the first quarter valued at about $29,000. Morton Brown Family Wealth LLC purchased a new stake in shares of Chemours during the fourth quarter worth about $35,000. Neo Ivy Capital Management purchased a new stake in Chemours during the 4th quarter worth approximately $40,000. Finally, North Star Investment Management Corp. increased its stake in shares of Chemours by 1,510.0% in the first quarter. North Star Investment Management Corp. now owns 1,288 shares of the specialty chemicals company’s stock worth $34,000 after buying an additional 1,208 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

Chemours Stock Performance

NYSE CC opened at $18.75 on Thursday. Chemours has a fifty-two week low of $15.10 and a fifty-two week high of $37.49. The stock’s fifty day moving average is $23.65 and its two-hundred day moving average is $26.29. The firm has a market capitalization of $2.79 billion, a P/E ratio of -8.64 and a beta of 1.80. The company has a debt-to-equity ratio of 5.26, a quick ratio of 0.99 and a current ratio of 1.61.

Chemours (NYSE:CC) last announced its quarterly earnings results on Thursday, August 1st. The specialty chemicals company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.19). The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Chemours had a net margin of 2.16% and a return on equity of 32.93%. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period last year, the company earned $1.10 EPS. On average, research analysts anticipate that Chemours will post 1.81 earnings per share for the current year.

Chemours Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.33%. The ex-dividend date of this dividend is Thursday, August 15th. Chemours’s payout ratio is -46.08%.

About Chemours

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.