Brokerages Set The Chemours Company (NYSE:CC) PT at $25.38

Shares of The Chemours Company (NYSE:CC) have been assigned an average recommendation of “Hold” from the eight research firms that are presently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $25.38.

A number of brokerages recently weighed in on CC. BMO Capital Markets boosted their price target on shares of Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. Barclays dropped their target price on shares of Chemours from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 25th. JPMorgan Chase & Co. decreased their price target on shares of Chemours from $25.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. UBS Group dropped their price objective on Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Royal Bank of Canada decreased their target price on Chemours from $35.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, October 11th.

Hedge Funds Weigh In On Chemours

Several hedge funds have recently made changes to their positions in CC. Quarry LP boosted its stake in Chemours by 106.8% in the 4th quarter. Quarry LP now owns 1,700 shares of the specialty chemicals company’s stock worth $54,000 after purchasing an additional 26,700 shares during the period. Quadrature Capital Ltd bought a new position in shares of Chemours in the fourth quarter valued at approximately $255,000. Alaska Permanent Fund Corp grew its stake in Chemours by 14.0% during the first quarter. Alaska Permanent Fund Corp now owns 84,918 shares of the specialty chemicals company’s stock valued at $2,230,000 after acquiring an additional 10,420 shares in the last quarter. Sunbelt Securities Inc. increased its holdings in Chemours by 1,969.7% during the 1st quarter. Sunbelt Securities Inc. now owns 1,366 shares of the specialty chemicals company’s stock worth $36,000 after acquiring an additional 1,300 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in Chemours by 91.5% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,645,676 shares of the specialty chemicals company’s stock worth $69,476,000 after purchasing an additional 1,263,875 shares in the last quarter. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Chemours Price Performance

Chemours stock opened at $18.89 on Tuesday. The stock has a market cap of $2.81 billion, a P/E ratio of -8.76 and a beta of 1.74. The company has a quick ratio of 1.01, a current ratio of 1.89 and a debt-to-equity ratio of 5.45. The company’s 50 day moving average price is $18.97 and its two-hundred day moving average price is $22.83. Chemours has a 52 week low of $15.10 and a 52 week high of $32.70.

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

Chemours Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 15th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 5.29%. Chemours’s dividend payout ratio is currently -46.08%.

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.