The Chemours Company (NYSE:CC) Receives $24.88 Consensus Price Target from Brokerages

Shares of The Chemours Company (NYSE:CC) have received an average rating of “Hold” from the eight analysts that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $24.88.

A number of equities analysts recently commented on CC shares. Morgan Stanley decreased their target price on Chemours from $30.00 to $25.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. The Goldman Sachs Group decreased their price objective on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, September 3rd. Barclays lifted their target price on shares of Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Royal Bank of Canada decreased their price target on shares of Chemours from $28.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Finally, BMO Capital Markets lifted their price objective on Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, October 7th.

Chemours Price Performance

Shares of Chemours stock opened at $21.17 on Wednesday. The company’s fifty day simple moving average is $19.93 and its two-hundred day simple moving average is $20.92. Chemours has a 12-month low of $15.10 and a 12-month high of $32.70. The firm has a market cap of $3.16 billion, a PE ratio of 42.34 and a beta of 1.80. The company has a quick ratio of 0.92, a current ratio of 1.73 and a debt-to-equity ratio of 6.05.

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

Chemours Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 4.72%. Chemours’s payout ratio is currently 200.00%.

Insider Activity at Chemours

In related news, SVP Alvenia Scarborough sold 7,500 shares of the 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 of the company’s stock, valued at approximately $343,552.80. This represents a 31.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.47% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in Chemours by 3.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 91,345 shares of the specialty chemicals company’s stock valued at $2,399,000 after acquiring an additional 2,932 shares in the last quarter. Linden Thomas Advisory Services LLC purchased a new stake in shares of Chemours during the second quarter valued at $460,000. Bourgeon Capital Management LLC increased its holdings in Chemours by 2.1% in the 2nd quarter. Bourgeon Capital Management LLC now owns 71,750 shares of the specialty chemicals company’s stock worth $1,619,000 after buying an additional 1,500 shares in the last quarter. SG Americas Securities LLC purchased a new position in Chemours in the 2nd quarter worth about $529,000. Finally, Twelve Points Wealth Management LLC lifted its stake in Chemours by 15.7% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 22,548 shares of the specialty chemicals company’s stock valued at $509,000 after acquiring an additional 3,068 shares during the period. Institutional investors 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.