Analysts Set The Chemours Company (NYSE:CC) Price Target at $24.88

The Chemours Company (NYSE:CC) has been given an average recommendation of “Hold” by the eight ratings firms that are currently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $24.88.

CC has been the topic of several research analyst reports. The Goldman Sachs Group reduced their price objective on Chemours from $29.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 3rd. BMO Capital Markets lifted their price target on shares of Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Barclays increased their price objective on shares of Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Royal Bank of Canada restated an “outperform” rating and issued a $25.00 target price on shares of Chemours in a research note on Thursday, December 12th. Finally, Morgan Stanley dropped their price target on Chemours from $30.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th.

Chemours Price Performance

CC opened at $16.90 on Friday. The company has a debt-to-equity ratio of 6.05, a quick ratio of 0.92 and a current ratio of 1.73. Chemours has a 1-year low of $15.10 and a 1-year high of $32.70. The company has a 50-day moving average of $19.45 and a 200-day moving average of $20.25. The company has a market capitalization of $2.53 billion, a P/E ratio of 33.80 and a beta of 1.80.

Chemours (NYSE:CC) last announced its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.08. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Chemours had a return on equity of 29.48% and a net margin of 1.34%. Chemours’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 earnings per share. Equities analysts expect that Chemours will post 1.35 EPS for the current fiscal year.

Chemours Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 15th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.92%. The ex-dividend date was Friday, November 15th. Chemours’s dividend payout ratio (DPR) is 200.00%.

Insider Activity at Chemours

In other Chemours news, SVP Alvenia Scarborough sold 7,500 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $20.64, for a total transaction of $154,800.00. Following the sale, the senior vice president now directly owns 16,645 shares in the company, valued at approximately $343,552.80. The trade was a 31.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.47% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CC. Khrom Capital Management LLC lifted its holdings in Chemours by 54.6% in the 2nd quarter. Khrom Capital Management LLC now owns 3,456,626 shares of the specialty chemicals company’s stock valued at $78,016,000 after acquiring an additional 1,220,967 shares during the last quarter. Vision One Management Partners LP bought a new stake in shares of Chemours in the 3rd quarter worth approximately $28,252,000. Two Sigma Advisers LP lifted its stake in Chemours by 9.4% during the third quarter. Two Sigma Advisers LP now owns 503,100 shares of the specialty chemicals company’s stock valued at $10,223,000 after purchasing an additional 43,200 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Chemours during the second quarter worth approximately $789,000. Finally, Geode Capital Management LLC grew its position in Chemours by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,491,748 shares of the specialty chemicals company’s stock worth $50,646,000 after buying an additional 28,803 shares during the last quarter. 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.