The Chemours Company (NYSE:CC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

The Chemours Company (NYSE:CC) has earned an average rating of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $24.10.

Several analysts have recently commented on CC shares. Truist Financial increased their target price on Chemours from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Zacks Research raised shares of Chemours from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. Alembic Global Advisors restated an “overweight” rating and issued a $30.00 price objective on shares of Chemours in a research report on Wednesday, May 13th. Mizuho lowered their price objective on shares of Chemours from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, July 1st. Finally, UBS Group boosted their target price 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.

Chemours Stock Up 0.2%

Shares of CC opened at $16.64 on Monday. The company has a market capitalization of $2.50 billion, a P/E ratio of -6.30 and a beta of 1.43. Chemours has a one year low of $10.44 and a one year high of $28.67. The business’s 50 day simple moving average is $19.84 and its 200-day simple moving average is $20.03. The company has a debt-to-equity ratio of 18.98, a current ratio of 1.82 and a quick ratio of 0.87.

Chemours (NYSE:CC) last released its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.10. Chemours had a positive return on equity of 52.49% and a negative net margin of 6.82%.The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period last year, the firm posted $0.13 EPS. The business’s revenue was up 1.0% on a year-over-year basis. As a group, sell-side analysts predict that Chemours will post 1.18 EPS for the current fiscal year.

Chemours Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Sunday, May 17th were given a $0.0875 dividend. This represents a $0.35 annualized dividend and a yield of 2.1%. The ex-dividend date was Friday, May 15th. Chemours’s payout ratio is -13.26%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Cooper Creek Partners Management LLC acquired a new position in Chemours in the third quarter valued at approximately $63,103,000. Scopia Capital Management LP boosted its stake in Chemours by 71.7% in the second quarter. Scopia Capital Management LP now owns 3,355,261 shares of the specialty chemicals company’s stock valued at $38,418,000 after acquiring an additional 1,401,539 shares during the last quarter. State Street Corp grew its holdings in Chemours by 22.7% during the 2nd quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company’s stock worth $70,009,000 after acquiring an additional 1,131,682 shares during the period. Sona Asset Management US LLC grew its holdings in Chemours by 176.9% during the 4th quarter. Sona Asset Management US LLC now owns 1,651,275 shares of the specialty chemicals company’s stock worth $19,469,000 after acquiring an additional 1,055,000 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Chemours by 36.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,701,294 shares of the specialty chemicals company’s stock valued at $43,638,000 after acquiring an additional 996,012 shares during the last quarter. 76.26% of the stock is currently owned by institutional investors.

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.