The Chemours Company (NYSE:CC) Receives $26.75 Consensus Target Price from Brokerages

Shares of The Chemours Company (NYSE:CC) have been given an average rating of “Hold” by the eight ratings firms that are covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $26.63.

Several brokerages have weighed in on CC. Barclays lowered their price objective on Chemours from $22.00 to $21.00 and set an “equal weight” rating for the company in a research report on Wednesday. BMO Capital Markets dropped their price target on shares of Chemours from $35.00 to $30.00 and set an “outperform” rating for the company in a research report on Tuesday, August 6th. UBS Group cut their price target on shares of Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Mizuho began coverage on shares of Chemours in a research note on Friday, June 7th. They set a “neutral” rating and a $25.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their target price on Chemours from $25.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th.

Chemours Price Performance

CC stock opened at $20.80 on Friday. The firm has a market cap of $3.10 billion, a P/E ratio of -9.59 and a beta of 1.74. The firm’s fifty day moving average is $19.63 and its 200 day moving average is $23.73. Chemours has a 52 week low of $15.10 and a 52 week high of $32.70. The company has a debt-to-equity ratio of 5.45, a quick ratio of 1.01 and a current ratio of 1.89.

Chemours (NYSE:CC) last released its quarterly earnings data 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). Chemours had a return on equity of 33.21% and a net margin of 2.16%. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the prior year, the firm posted $1.10 EPS. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. Research analysts predict that Chemours will post 1.33 earnings per share for the current year.

Chemours Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 15th were issued a $0.25 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.00 annualized dividend and a yield of 4.81%. Chemours’s dividend payout ratio (DPR) is presently -46.08%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. New Covenant Trust Company N.A. bought a new position in shares of Chemours in the 1st quarter worth about $29,000. North Star Investment Management Corp. boosted its position in shares of Chemours by 1,510.0% in the 1st quarter. North Star Investment Management Corp. now owns 1,288 shares of the specialty chemicals company’s stock worth $34,000 after purchasing an additional 1,208 shares in the last quarter. Sunbelt Securities Inc. grew its stake in shares of Chemours by 1,969.7% in the 1st quarter. Sunbelt Securities Inc. now owns 1,366 shares of the specialty chemicals company’s stock worth $36,000 after buying an additional 1,300 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Chemours in the 4th quarter worth approximately $40,000. Finally, Headlands Technologies LLC bought a new position in Chemours during the 1st quarter valued at approximately $42,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Chemours Company Profile

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.