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

Shares of The Chemours Company (NYSE:CC) have received a consensus recommendation of “Hold” from the eight brokerages that are covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $26.75.

A number of brokerages have commented on CC. UBS Group cut their price target on shares of Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. The Goldman Sachs Group cut their target price on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, September 3rd. Barclays lowered their price target on Chemours from $30.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 6th. BMO Capital Markets cut their price objective on Chemours from $35.00 to $30.00 and set an “outperform” rating for the company in a research report on Tuesday, August 6th. Finally, Mizuho started coverage on Chemours in a report on Friday, June 7th. They set a “neutral” rating and a $25.00 target price on the stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. bought a new stake in shares of Chemours in the first quarter valued at about $29,000. North Star Investment Management Corp. raised its stake in 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. raised its stake in 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 purchasing an additional 1,300 shares in the last quarter. Neo Ivy Capital Management acquired a new position in shares of Chemours during the 4th quarter worth approximately $40,000. Finally, Headlands Technologies LLC acquired a new position in shares of Chemours during the 1st quarter worth approximately $42,000. 76.26% of the stock is owned by institutional investors and hedge funds.

Chemours Price Performance

NYSE:CC opened at $19.54 on Friday. Chemours has a 52-week low of $15.10 and a 52-week high of $32.70. The company has a market cap of $2.91 billion, a P/E ratio of -9.00 and a beta of 1.74. The company has a debt-to-equity ratio of 5.45, a quick ratio of 1.01 and a current ratio of 1.89. The stock’s 50-day simple moving average is $19.81 and its 200 day simple moving average is $23.79.

Chemours (NYSE:CC) last posted its quarterly earnings results on Thursday, August 1st. The specialty chemicals company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.19). The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Chemours had a return on equity of 33.21% and a net margin of 2.16%. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period last year, the firm earned $1.10 EPS. As a group, sell-side analysts forecast that Chemours will post 1.33 EPS for the current fiscal year.

Chemours Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 15th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 annualized dividend and a yield of 5.12%. Chemours’s payout ratio is currently -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.