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

Shares of The Chemours Company (NYSE:CC) have earned a consensus rating of “Hold” from the eight analysts that are currently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $30.38.

Several research analysts have recently issued reports on the company. UBS Group raised Chemours from a “neutral” rating to a “buy” rating and upped their price objective for the company from $28.00 to $30.00 in a research note on Tuesday. Barclays decreased their price target on Chemours from $32.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, April 2nd. BMO Capital Markets raised Chemours from an “underperform” rating to an “outperform” rating and boosted their price target for the company from $19.00 to $34.00 in a research note on Tuesday, April 9th. Finally, Mizuho initiated coverage on shares of Chemours in a research note on Friday, June 7th. They issued a “neutral” rating and a $25.00 price objective for the company.

Institutional Investors Weigh In On Chemours

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Deutsche Bank AG grew its position in shares of Chemours by 4,407.9% during the 3rd quarter. Deutsche Bank AG now owns 1,759,419 shares of the specialty chemicals company’s stock valued at $49,352,000 after acquiring an additional 1,720,389 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Chemours during the fourth quarter worth $4,711,000. Anchor Investment Management LLC bought a new stake in shares of Chemours during the 4th quarter valued at $56,000. American Century Companies Inc. lifted its holdings in shares of Chemours by 0.7% in the third quarter. American Century Companies Inc. now owns 1,459,463 shares of the specialty chemicals company’s stock worth $40,938,000 after buying an additional 10,075 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Chemours in the fourth quarter valued at approximately $1,547,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Chemours Trading Up 4.7 %

CC opened at $24.26 on Friday. The company has a market cap of $3.61 billion, a P/E ratio of -11.18 and a beta of 1.80. The company has a current ratio of 1.61, a quick ratio of 0.99 and a debt-to-equity ratio of 5.26. The company’s 50 day moving average is $25.13 and its 200-day moving average is $27.22. Chemours has a 1-year low of $15.10 and a 1-year high of $39.05.

Chemours (NYSE:CC) last announced its quarterly earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.07. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.35 billion. Chemours had a negative net margin of 5.51% and a positive return on equity of 46.67%. The company’s revenue for the quarter was down 12.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 earnings per share. Equities research analysts predict that Chemours will post 1.88 earnings per share for the current fiscal year.

Chemours Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 15th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend was Tuesday, May 14th. 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.