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

Shares of The Chemours Company (NYSE:CC) have been given an average rating of “Hold” by the twelve research firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $24.10.

Several brokerages have recently commented on CC. UBS Group lifted their target price on Chemours from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Truist Financial raised their price target on Chemours from $27.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Zacks Research raised shares of Chemours from a “strong sell” rating to a “hold” rating in a research report on Friday, April 24th. Mizuho dropped their price objective on shares of Chemours from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 1st. Finally, JPMorgan Chase & Co. raised their target price on shares of Chemours from $17.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, May 21st.

Chemours Stock Down 2.2%

Chemours stock opened at $18.44 on Thursday. The company has a debt-to-equity ratio of 18.98, a current ratio of 1.82 and a quick ratio of 0.87. The company’s 50-day moving average is $22.07 and its 200-day moving average is $19.43. The firm has a market capitalization of $2.77 billion, a PE ratio of -6.98 and a beta of 1.41. Chemours has a fifty-two week low of $10.44 and a fifty-two week high of $28.67.

Chemours (NYSE:CC) last issued 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 during the quarter, compared to the consensus estimate of $1.40 billion. Chemours had a negative net margin of 6.82% and a positive return on equity of 52.49%. Chemours’s revenue was up 1.0% on a year-over-year basis. During the same period last year, the business posted $0.13 EPS. Sell-side analysts anticipate that Chemours will post 1.16 earnings per share for the current year.

Chemours Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Sunday, May 17th were issued a $0.0875 dividend. This represents a $0.35 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, May 15th. Chemours’s dividend payout ratio is currently -13.26%.

Institutional Investors Weigh In On Chemours

Several hedge funds have recently bought and sold shares of CC. Atlas Capital Advisors Inc. acquired a new stake in Chemours during the 4th quarter worth approximately $26,000. Aster Capital Management DIFC Ltd acquired a new position in Chemours in the 4th quarter valued at $28,000. Covestor Ltd grew its holdings in Chemours by 204.7% in the 4th quarter. Covestor Ltd now owns 2,602 shares of the specialty chemicals company’s stock valued at $31,000 after buying an additional 1,748 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new position in Chemours during the 4th quarter worth $31,000. Finally, Rothschild Investment LLC increased its position in Chemours by 87.0% during the 4th quarter. Rothschild Investment LLC now owns 2,698 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 1,255 shares during the period. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Chemours Company Profile

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.