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

Shares of The Chemours Company (NYSE:CC) have received an average recommendation of “Hold” from the eight ratings firms that are presently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $25.38.

Several research analysts have recently issued reports on CC shares. The Goldman Sachs Group reduced their target price on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 3rd. UBS Group reduced their price objective on shares of Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Barclays cut their target price on shares of Chemours from $22.00 to $21.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 25th. Royal Bank of Canada decreased their price target on shares of Chemours from $35.00 to $28.00 and set an “outperform” rating for the company in a report on Friday. Finally, BMO Capital Markets raised their price objective on Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th.

Chemours Stock Down 2.2 %

Shares of CC opened at $19.94 on Tuesday. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.89 and a quick ratio of 1.01. The company has a market capitalization of $2.97 billion, a P/E ratio of -9.19 and a beta of 1.74. The business’s 50 day simple moving average is $18.85 and its 200-day simple moving average is $23.06. Chemours has a one year low of $15.10 and a one year high of $32.70.

Chemours (NYSE:CC) last released its quarterly earnings results on Thursday, August 1st. The specialty chemicals company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.19). The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. Chemours had a net margin of 2.16% and a return on equity of 33.21%. Chemours’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period last year, the company earned $1.10 earnings per share. As a group, sell-side analysts predict that Chemours will post 1.32 EPS for the current fiscal year.

Chemours Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date was Thursday, August 15th. Chemours’s payout ratio is presently -46.08%.

Institutional Trading of Chemours

A number of institutional investors have recently modified their holdings of the company. Khrom Capital Management LLC grew its position in Chemours by 156.7% in the first quarter. Khrom Capital Management LLC now owns 2,235,659 shares of the specialty chemicals company’s stock valued at $58,708,000 after purchasing an additional 1,364,634 shares in the last quarter. Marshall Wace LLP raised its position in Chemours by 23.8% during the second quarter. Marshall Wace LLP now owns 7,009,868 shares of the specialty chemicals company’s stock worth $158,213,000 after acquiring an additional 1,347,710 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in Chemours by 91.5% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 2,645,676 shares of the specialty chemicals company’s stock valued at $69,476,000 after acquiring an additional 1,263,875 shares during the last quarter. Forest Avenue Capital Management LP grew its position in shares of Chemours by 236.9% in the 2nd quarter. Forest Avenue Capital Management LP now owns 845,728 shares of the specialty chemicals company’s stock valued at $19,088,000 after acquiring an additional 594,660 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Chemours by 26.7% during the 2nd quarter. American Century Companies Inc. now owns 1,811,957 shares of the specialty chemicals company’s stock worth $40,896,000 after purchasing an additional 382,100 shares during the last quarter. 76.26% of the stock is currently owned by institutional investors.

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.