The Chemours Company (NYSE:CC) Given Average Rating of “Hold” by Brokerages

The Chemours Company (NYSE:CC) has received a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $23.56.

A number of research firms have commented on CC. BMO Capital Markets reduced their target price on Chemours from $34.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday. Mizuho reduced their price objective on shares of Chemours from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Barclays upped their target price on shares of Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Truist Financial initiated coverage on shares of Chemours in a research report on Tuesday, January 28th. They set a “buy” rating and a $27.00 price target for the company. Finally, Morgan Stanley lowered their price target on Chemours from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th.

Chemours Trading Down 4.1 %

Shares of Chemours stock opened at $16.77 on Monday. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 29.42 and a beta of 1.81. Chemours has a 52-week low of $15.10 and a 52-week high of $29.83. The company’s 50-day simple moving average is $18.09 and its 200-day simple moving average is $18.91. The company has a quick ratio of 0.92, a current ratio of 1.68 and a debt-to-equity ratio of 6.70.

Chemours (NYSE:CC) last released its earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Chemours had a return on equity of 26.54% and a net margin of 1.51%. As a group, equities research analysts anticipate that Chemours will post 2.06 earnings per share for the current year.

Chemours Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.96%. The ex-dividend date of this dividend is Friday, February 28th. Chemours’s payout ratio is 175.44%.

Institutional Investors Weigh In On Chemours

Hedge funds have recently modified their holdings of the company. Blue Trust Inc. lifted its stake in shares of Chemours by 166.9% during the third quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 731 shares during the period. GAMMA Investing LLC lifted its stake in shares of Chemours by 99.7% during the 4th quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 765 shares during the period. Truvestments Capital LLC acquired a new stake in shares of Chemours during the third quarter worth $35,000. Brooklyn Investment Group purchased a new stake in shares of Chemours in the third quarter valued at $37,000. Finally, Quadrant Capital Group LLC grew its position in shares of Chemours by 100.4% in the fourth quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company’s stock valued at $38,000 after purchasing an additional 1,119 shares during the period. 76.26% of the stock is owned by institutional investors and hedge funds.

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.