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

The Chemours Company (NYSE:CC) has been given a consensus rating of “Hold” by the eleven ratings firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $17.00.

CC has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Chemours in a research report on Wednesday, October 8th. Zacks Research downgraded Chemours from a “hold” rating to a “strong sell” rating in a report on Friday, October 17th. UBS Group decreased their price objective on Chemours from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Truist Financial dropped their target price on Chemours from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, November 10th. Finally, JPMorgan Chase & Co. decreased their price target on Chemours from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 3rd.

Chemours Stock Down 1.6%

Shares of NYSE:CC opened at $12.94 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.71 and a debt-to-equity ratio of 13.66. Chemours has a 52-week low of $9.13 and a 52-week high of $20.12. The stock’s fifty day simple moving average is $12.88 and its 200-day simple moving average is $13.35. The company has a market capitalization of $1.94 billion, a P/E ratio of -5.83 and a beta of 1.59.

Chemours (NYSE:CC) last posted its quarterly earnings data on Thursday, November 6th. The specialty chemicals company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Chemours had a positive return on equity of 35.27% and a negative net margin of 5.70%.The company’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.40 EPS. As a group, equities research analysts forecast that Chemours will post 2.03 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 14th will be given a $0.0875 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.35 annualized dividend and a dividend yield of 2.7%. Chemours’s dividend payout ratio (DPR) is currently -15.77%.

Hedge Funds Weigh In On Chemours

Several institutional investors and hedge funds have recently bought and sold shares of the stock. MTM Investment Management LLC acquired a new position in shares of Chemours in the 2nd quarter valued at $27,000. GAMMA Investing LLC raised its position in shares of Chemours by 130.7% in the 2nd quarter. GAMMA Investing LLC now owns 3,175 shares of the specialty chemicals company’s stock worth $36,000 after buying an additional 1,799 shares during the period. Evelyn Partners Asset Management Ltd acquired a new position in Chemours in the second quarter valued at $37,000. Caitong International Asset Management Co. Ltd acquired a new position in Chemours in the third quarter valued at $43,000. Finally, FNY Investment Advisers LLC grew its position in Chemours by 100.0% during the second quarter. FNY Investment Advisers LLC now owns 4,000 shares of the specialty chemicals company’s stock valued at $45,000 after acquiring an additional 2,000 shares during the period. 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.