The Chemours Company (NYSE:CC) Receives Consensus Recommendation of “Hold” from Brokerages

The Chemours Company (NYSE:CC) has received an average recommendation of “Hold” from the thirteen analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $23.0909.

Several equities analysts have recently weighed in on CC shares. JPMorgan Chase & Co. increased their price objective on shares of Chemours from $13.00 to $17.00 and gave the stock a “neutral” rating in a research note on Monday, February 23rd. The Goldman Sachs Group increased their price objective on shares of Chemours from $14.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th. BMO Capital Markets lowered their price objective on shares of Chemours from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, February 23rd. UBS Group increased their price objective on shares of Chemours from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $17.00 price objective on shares of Chemours in a research note on Monday, February 23rd.

Chemours Price Performance

CC opened at $21.75 on Wednesday. The company has a debt-to-equity ratio of 18.98, a quick ratio of 0.87 and a current ratio of 1.82. The stock has a market capitalization of $3.27 billion, a P/E ratio of -8.24 and a beta of 1.47. The company’s 50-day simple moving average is $22.19 and its two-hundred day simple moving average is $17.19. Chemours has a 52-week low of $9.13 and a 52-week high of $28.67.

Chemours (NYSE:CC) last posted its earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.10. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Chemours had a negative net margin of 6.82% and a positive return on equity of 52.49%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.13 EPS. As a group, analysts predict that Chemours will post 1.31 EPS for the current year.

Chemours Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Sunday, May 17th will be paid a $0.0875 dividend. This represents a $0.35 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, May 15th. Chemours’s dividend payout ratio is -13.26%.

Hedge Funds Weigh In On Chemours

Several institutional investors have recently made changes to their positions in the business. Bank of America Corp DE lifted its stake in shares of Chemours by 79.1% in the 1st quarter. Bank of America Corp DE now owns 1,317,003 shares of the specialty chemicals company’s stock worth $29,014,000 after purchasing an additional 581,621 shares during the period. Edgestream Partners L.P. lifted its stake in shares of Chemours by 1,126.4% in the 1st quarter. Edgestream Partners L.P. now owns 294,881 shares of the specialty chemicals company’s stock worth $6,496,000 after purchasing an additional 270,836 shares during the period. Amundi purchased a new stake in Chemours in the 1st quarter worth approximately $272,000. California State Teachers Retirement System increased its holdings in Chemours by 18.8% in the 1st quarter. California State Teachers Retirement System now owns 173,103 shares of the specialty chemicals company’s stock worth $3,813,000 after acquiring an additional 27,377 shares in the last quarter. Finally, Quantinno Capital Management LP increased its holdings in Chemours by 16.4% in the 1st quarter. Quantinno Capital Management LP now owns 364,745 shares of the specialty chemicals company’s stock worth $8,035,000 after acquiring an additional 51,275 shares in the last quarter. Institutional investors own 76.26% of the company’s stock.

About Chemours

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours’ principal business activities are organized into three core segments.