The Chemours Company (NYSE:CC) Given Consensus Rating of “Hold” by Brokerages

The Chemours Company (NYSE:CC) has earned a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $30.89.

A number of research firms have recently weighed in on CC. BMO Capital Markets upgraded shares of Chemours from an “underperform” rating to an “outperform” rating and lifted their price target for the company from $19.00 to $34.00 in a research report on Tuesday, April 9th. Barclays dropped their target price on shares of Chemours from $32.00 to $30.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 2nd. Finally, UBS Group upped their price objective on Chemours from $21.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd.

Chemours Stock Up 2.0 %

CC stock opened at $26.42 on Tuesday. Chemours has a fifty-two week low of $15.10 and a fifty-two week high of $39.05. The company has a debt-to-equity ratio of 5.40, a current ratio of 1.54 and a quick ratio of 1.00. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of -17.05 and a beta of 2.00. The business’s fifty day moving average price is $26.80 and its two-hundred day moving average price is $27.80.

Chemours (NYSE:CC) last released its quarterly earnings results on Wednesday, March 27th. The specialty chemicals company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.37 billion. Chemours had a negative net margin of 3.80% and a positive return on equity of 51.73%. On average, equities analysts anticipate that Chemours will post 2.23 earnings per share for the current year.

Chemours Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were issued a $0.25 dividend. The ex-dividend date was Friday, February 23rd. This represents a $1.00 annualized dividend and a yield of 3.79%. Chemours’s payout ratio is -64.52%.

Institutional Investors Weigh In On Chemours

Several large investors have recently added to or reduced their stakes in the business. Deutsche Bank AG boosted its holdings 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 worth $49,352,000 after buying an additional 1,720,389 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Chemours by 50.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,763,368 shares of the specialty chemicals company’s stock valued at $150,237,000 after acquiring an additional 1,602,628 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in Chemours by 91.5% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 2,645,676 shares of the specialty chemicals company’s stock worth $69,476,000 after acquiring an additional 1,263,875 shares in the last quarter. Norges Bank bought a new position in Chemours during the fourth quarter worth $39,171,000. Finally, Bank of New York Mellon Corp grew its holdings in Chemours by 11.0% in the third quarter. Bank of New York Mellon Corp now owns 6,196,063 shares of the specialty chemicals company’s stock worth $173,800,000 after purchasing an additional 612,071 shares during the period. Institutional investors and hedge funds own 76.26% of the company’s stock.

Chemours Company Profile

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.