Shares of Chemours Co (NYSE:CC) have received a consensus recommendation of “Hold” from the twelve research firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $50.17.
A number of research firms have issued reports on CC. Zacks Investment Research downgraded Chemours from a “hold” rating to a “sell” rating in a report on Friday, January 4th. SunTrust Banks decreased their price objective on Chemours to $38.00 and set a “hold” rating for the company in a report on Monday, November 5th. HSBC assumed coverage on Chemours in a research note on Tuesday. They issued a “buy” rating and a $52.00 target price on the stock. Susquehanna Bancshares cut their target price on Chemours from $65.00 to $44.00 and set a “positive” rating on the stock in a research note on Monday, November 5th. Finally, BMO Capital Markets cut their target price on Chemours from $68.00 to $58.00 and set an “outperform” rating on the stock in a research note on Monday, November 5th. They noted that the move was a valuation call.
CC traded up $0.25 during trading on Friday, reaching $33.84. The stock had a trading volume of 81,349 shares, compared to its average volume of 2,156,247. The company has a current ratio of 2.03, a quick ratio of 1.39 and a debt-to-equity ratio of 3.48. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 8.92, a price-to-earnings-growth ratio of 0.39 and a beta of 2.23. Chemours has a one year low of $25.17 and a one year high of $54.62.
Chemours (NYSE:CC) last posted its quarterly earnings data on Thursday, November 1st. The specialty chemicals company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.07. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.71 billion. Chemours had a return on equity of 106.98% and a net margin of 16.02%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.12 earnings per share. On average, analysts predict that Chemours will post 5.67 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 14th. Stockholders of record on Friday, November 16th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.96%. Chemours’s dividend payout ratio is currently 26.18%.
In related news, Director Richard H. Brown bought 10,000 shares of the business’s stock in a transaction dated Monday, December 3rd. The shares were purchased at an average cost of $28.60 per share, with a total value of $286,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.75% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CC. FMR LLC boosted its position in shares of Chemours by 10.5% during the third quarter. FMR LLC now owns 26,450,684 shares of the specialty chemicals company’s stock valued at $1,043,214,000 after buying an additional 2,523,555 shares during the last quarter. Vanguard Group Inc boosted its position in Chemours by 0.3% in the third quarter. Vanguard Group Inc now owns 18,119,103 shares of the specialty chemicals company’s stock worth $714,617,000 after purchasing an additional 56,773 shares during the last quarter. Iridian Asset Management LLC CT boosted its position in Chemours by 34.9% in the third quarter. Iridian Asset Management LLC CT now owns 9,420,415 shares of the specialty chemicals company’s stock worth $371,541,000 after purchasing an additional 2,439,293 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Chemours by 6.4% in the third quarter. Bank of New York Mellon Corp now owns 2,285,480 shares of the specialty chemicals company’s stock worth $90,139,000 after purchasing an additional 136,801 shares during the last quarter. Finally, LSV Asset Management boosted its position in Chemours by 21.7% in the third quarter. LSV Asset Management now owns 1,956,909 shares of the specialty chemicals company’s stock worth $77,180,000 after purchasing an additional 349,573 shares during the last quarter. 78.44% of the stock is currently owned by hedge funds and other institutional investors.
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, Fluoroproducts, and Chemical Solutions. The Titanium Technologies segment manufactures and sells titanium dioxide under the Ti-Pure and BaiMax brands for various applications in architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride window profiles, laminate papers used for furniture and building materials, and coated papers and paperboards used for packaging.
Read More: What is the NASDAQ Stock Market?
Receive News & Ratings for Chemours Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chemours and related companies with MarketBeat.com's FREE daily email newsletter.