Brokerages Set The Chemours Company (NYSE:CC) PT at $24.60

The Chemours Company (NYSE:CC) has been assigned a consensus rating of “Hold” from the twelve research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $24.60.

A number of equities research analysts recently issued reports on the stock. Morgan Stanley increased their target price on shares of Chemours from $17.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Mizuho set a $30.00 target price on shares of Chemours in a research report on Wednesday, May 6th. Jefferies Financial Group restated a “hold” rating and issued a $17.00 price objective on shares of Chemours in a research report on Monday, February 23rd. UBS Group raised their price objective on shares of Chemours from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Finally, Zacks Research upgraded shares of Chemours from a “strong sell” rating to a “hold” rating in a research report on Friday, April 24th.

Institutional Investors Weigh In On Chemours

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CC. Atlas Capital Advisors Inc. acquired a new stake in Chemours in the 4th quarter valued at about $26,000. Aster Capital Management DIFC Ltd acquired a new stake in Chemours in the 4th quarter valued at about $28,000. Covestor Ltd increased its position in Chemours by 204.7% in the 4th quarter. Covestor Ltd now owns 2,602 shares of the specialty chemicals company’s stock valued at $31,000 after acquiring an additional 1,748 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Chemours during the 4th quarter worth approximately $31,000. Finally, Rothschild Investment LLC grew its position in shares of Chemours by 87.0% during the 4th quarter. Rothschild Investment LLC now owns 2,698 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 1,255 shares during the period. Institutional investors and hedge funds own 76.26% of the company’s stock.

Chemours Trading Up 6.1%

Shares of Chemours stock opened at $21.56 on Friday. The stock has a market capitalization of $3.24 billion, a P/E ratio of -8.17 and a beta of 1.39. The company has a quick ratio of 0.87, a current ratio of 1.82 and a debt-to-equity ratio of 18.98. The company has a 50-day simple moving average of $23.04 and a 200 day simple moving average of $18.35. Chemours has a 12-month low of $10.14 and a 12-month high of $28.67.

Chemours (NYSE:CC) last announced its earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.10. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Chemours had a negative net margin of 6.82% and a positive return on equity of 52.49%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the company posted $0.13 EPS. Research analysts expect that Chemours will post 1.07 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Sunday, May 17th will be given a $0.0875 dividend. This represents a $0.35 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, May 15th. Chemours’s dividend payout ratio (DPR) is presently -13.26%.

About Chemours

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours’ principal business activities are organized into three core segments.