Somewhat Positive Media Coverage Somewhat Unlikely to Affect Chemours (CC) Share Price
News headlines about Chemours (NYSE:CC) have been trending somewhat positive this week, according to Accern. Accern identifies positive and negative media coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Chemours earned a daily sentiment score of 0.19 on Accern’s scale. Accern also gave headlines about the specialty chemicals company an impact score of 46.4395505434106 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
Here are some of the headlines that may have impacted Accern’s analysis:
- Chemours Co (CC) Position Raised by UBS Asset Management Americas Inc. (americanbankingnews.com)
- What Does 3M’s $850 Million Legal Settlement Mean for Chemours … – Motley Fool (fool.com)
- Martingale Asset Management L P Trims Stake in Chemours Co (CC) (americanbankingnews.com)
- Allianz Asset Management GmbH Decreases Position in Chemours Co (CC) (americanbankingnews.com)
- Chemours Co (CC) Shares Bought by Horizon Investment Services LLC (americanbankingnews.com)
CC has been the subject of several recent analyst reports. Barclays restated a “buy” rating and set a $60.00 target price on shares of Chemours in a research note on Wednesday, December 6th. Jefferies Group increased their target price on Chemours to $66.00 and gave the company a “buy” rating in a research note on Monday, December 4th. Zacks Investment Research upgraded Chemours from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Thursday, November 9th. Morgan Stanley assumed coverage on Chemours in a research note on Tuesday, January 30th. They set an “equal weight” rating and a $57.50 target price for the company. Finally, Goldman Sachs Group cut Chemours from a “buy” rating to a “neutral” rating and set a $55.00 price target for the company. in a report on Wednesday, December 6th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Chemours currently has a consensus rating of “Buy” and a consensus target price of $57.95.
Chemours (NYSE:CC) last posted its quarterly earnings results on Wednesday, February 14th. The specialty chemicals company reported $1.19 EPS for the quarter, beating the consensus estimate of $0.95 by $0.24. The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Chemours had a return on equity of 115.54% and a net margin of 12.06%. The company’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.08 EPS. sell-side analysts expect that Chemours will post 5.3 earnings per share for the current year.
Chemours declared that its Board of Directors has initiated a share buyback program on Friday, December 1st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the specialty chemicals company to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
In other news, insider Christian W. Siemer sold 15,088 shares of the stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $47.37, for a total value of $714,718.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Kirsch sold 13,770 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $50.01, for a total value of $688,637.70. Following the completion of the transaction, the insider now directly owns 63,093 shares of the company’s stock, valued at $3,155,280.93. The disclosure for this sale can be found here. Corporate insiders own 1.14% of the company’s stock.
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The Chemours Company is a provider of performance chemicals. The Company operates through three segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Titanium Technologies segment is a producer of titanium dioxide (TiO2). The Fluoroproducts segment is a provider of fluoroproducts, including refrigerants and industrial fluoropolymer resins.
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