The Chemours Company (NYSE:CC) Receives $23.11 Average Target Price from Analysts

Shares of The Chemours Company (NYSE:CC) have been given a consensus recommendation of “Hold” by the nine brokerages that are presently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $23.11.

CC has been the topic of a number of research reports. Royal Bank of Canada restated an “outperform” rating and set a $25.00 price target on shares of Chemours in a research note on Thursday, December 12th. Morgan Stanley lowered their target price on Chemours from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Barclays cut their price target on shares of Chemours from $23.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Monday, February 24th. BMO Capital Markets lowered their price objective on shares of Chemours from $34.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Finally, The Goldman Sachs Group dropped their price objective on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th.

Institutional Trading of Chemours

A number of institutional investors have recently bought and sold shares of the business. FMR LLC raised its position in shares of Chemours by 3.5% during the 3rd quarter. FMR LLC now owns 18,142,202 shares of the specialty chemicals company’s stock worth $368,650,000 after acquiring an additional 618,361 shares in the last quarter. Vanguard Group Inc. raised its holdings in Chemours by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 15,223,961 shares of the specialty chemicals company’s stock worth $257,285,000 after purchasing an additional 94,885 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Chemours by 23.8% during the 4th quarter. Ameriprise Financial Inc. now owns 4,373,172 shares of the specialty chemicals company’s stock worth $73,907,000 after buying an additional 839,849 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Chemours by 44.6% in the 4th quarter. Millennium Management LLC now owns 2,507,262 shares of the specialty chemicals company’s stock valued at $42,373,000 after buying an additional 773,537 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Chemours by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,491,748 shares of the specialty chemicals company’s stock valued at $50,646,000 after buying an additional 28,803 shares during the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

Chemours Stock Up 0.2 %

Shares of CC opened at $14.63 on Friday. The company’s 50-day moving average price is $17.08 and its 200 day moving average price is $18.42. Chemours has a 12-month low of $13.09 and a 12-month high of $29.21. The company has a current ratio of 1.68, a quick ratio of 0.92 and a debt-to-equity ratio of 6.70. The firm has a market cap of $2.19 billion, a P/E ratio of 25.66 and a beta of 2.00.

Chemours (NYSE:CC) last released its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.37 billion. Chemours had a net margin of 1.51% and a return on equity of 26.54%. On average, sell-side analysts forecast that Chemours will post 2.03 earnings per share for the current year.

Chemours Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.84%. The ex-dividend date was Friday, February 28th. Chemours’s dividend payout ratio (DPR) is presently 175.44%.

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.