Chemours Co. (CC) Given Average Recommendation of “Hold” by Analysts
Chemours Co. (NYSE:CC) has been assigned an average recommendation of “Hold” from the nine ratings firms that are currently covering the firm. One analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $11.94.
A number of research analysts have recently issued reports on the company. Jefferies Group raised their price objective on Chemours from $10.00 to $15.00 and gave the company a “hold” rating in a research note on Thursday, September 1st. Zacks Investment Research raised Chemours from a “hold” rating to a “strong-buy” rating and set a $14.00 price objective on the stock in a research note on Wednesday, August 17th. Citigroup Inc. reduced their price objective on Chemours from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, August 11th. TheStreet upgraded shares of Chemours from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. Finally, Argus upgraded shares of Chemours from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Wednesday, August 10th. They noted that the move was a valuation call.
A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Chemours by 11.9% in the second quarter. Vanguard Group Inc. now owns 15,430,215 shares of the company’s stock valued at $127,146,000 after buying an additional 1,643,003 shares during the last quarter. BlackRock Fund Advisors raised its position in Chemours by 49.1% in the second quarter. BlackRock Fund Advisors now owns 12,182,136 shares of the company’s stock valued at $100,381,000 after buying an additional 4,011,643 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Chemours by 7.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 4,582,295 shares of the company’s stock valued at $37,758,000 after buying an additional 306,075 shares during the last quarter. State Street Corp raised its position in Chemours by 37.8% in the second quarter. State Street Corp now owns 4,027,367 shares of the company’s stock valued at $33,185,000 after buying an additional 1,105,122 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its position in Chemours by 231.4% in the second quarter. Adage Capital Partners GP L.L.C. now owns 2,150,000 shares of the company’s stock valued at $17,716,000 after buying an additional 1,501,256 shares during the last quarter. Institutional investors and hedge funds own 76.63% of the company’s stock.
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Shares of Chemours (NYSE:CC) traded down 1.06% during mid-day trading on Wednesday, reaching $14.90. The company had a trading volume of 557,687 shares. Chemours has a 12-month low of $3.06 and a 12-month high of $16.32. The company’s market capitalization is $2.71 billion. The firm has a 50-day moving average of $14.24 and a 200-day moving average of $10.36.
Chemours (NYSE:CC) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.10. Chemours had a positive return on equity of 95.01% and a negative net margin of 1.48%. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period last year, the firm earned ($0.10) earnings per share. The company’s revenue for the quarter was down 8.3% compared to the same quarter last year. On average, equities analysts anticipate that Chemours will post $0.92 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 17th were issued a $0.03 dividend. The ex-dividend date was Monday, August 15th. This represents a $0.12 annualized dividend and a yield of 0.80%. Chemours’s dividend payout ratio (DPR) is presently -26.09%.
Chemours Company Profile
The Chemours Company is a provider of performance chemicals. The Company operates through three segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Company’s Titanium Technologies segment manufactures titanium dioxide (TiO2), which is a pigment used to deliver whiteness, opacity, brightness and protection from sunlight in applications, such as architectural and industrial coatings, plastic packaging, polyvinyl chloride (PVC) window profiles, laminate papers, coated paper and coated paperboard used for packaging.
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