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

The Chemours Company (NYSE:CC) has earned an average recommendation of “Hold” from the twelve ratings firms that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $18.00.

CC has been the subject of a number of research reports. Morgan Stanley lifted their target price on shares of Chemours from $15.00 to $17.00 and gave the company an “equal weight” rating in a research note on Monday. Truist Financial lifted their price objective on Chemours from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. JPMorgan Chase & Co. upped their target price on Chemours from $13.00 to $17.00 and gave the stock a “neutral” rating in a research report on Monday. Mizuho set a $17.00 price target on Chemours in a research note on Monday. Finally, BMO Capital Markets lowered their price target on Chemours from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Monday.

Hedge Funds Weigh In On Chemours

Several hedge funds have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund lifted its position in shares of Chemours by 1.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 34,300 shares of the specialty chemicals company’s stock worth $404,000 after buying an additional 600 shares during the last quarter. Amalgamated Bank lifted its holdings in Chemours by 1.7% in the 3rd quarter. Amalgamated Bank now owns 43,528 shares of the specialty chemicals company’s stock worth $689,000 after purchasing an additional 740 shares during the last quarter. PFG Investments LLC lifted its holdings in Chemours by 7.6% in the 4th quarter. PFG Investments LLC now owns 12,494 shares of the specialty chemicals company’s stock worth $147,000 after purchasing an additional 883 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Chemours by 1.2% during the fourth quarter. State of Alaska Department of Revenue now owns 76,257 shares of the specialty chemicals company’s stock worth $899,000 after purchasing an additional 932 shares during the period. Finally, Man Group plc grew its holdings in Chemours by 0.4% during the second quarter. Man Group plc now owns 271,108 shares of the specialty chemicals company’s stock valued at $3,104,000 after purchasing an additional 979 shares during the last quarter. 76.26% of the stock is owned by institutional investors and hedge funds.

Chemours Trading Down 3.9%

NYSE:CC opened at $17.32 on Friday. The stock has a market cap of $2.60 billion, a PE ratio of -6.98 and a beta of 1.63. Chemours has a fifty-two week low of $9.13 and a fifty-two week high of $21.85. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.78 and a quick ratio of 0.85. The stock’s 50-day moving average is $15.73 and its two-hundred day moving average is $14.60.

Chemours (NYSE:CC) last posted its quarterly earnings results on Thursday, February 19th. The specialty chemicals company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.01 by $0.04. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Chemours had a negative net margin of 6.41% and a positive return on equity of 41.75%. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the company posted $0.09 earnings per share. As a group, equities research analysts forecast that Chemours will post 2.03 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be issued a dividend of $0.0875 per share. The ex-dividend date is Friday, February 27th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 2.0%. Chemours’s dividend payout ratio (DPR) is currently -14.11%.

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.