Brokerages Set The Chemours Company (NYSE:CC) PT at $24.10

The Chemours Company (NYSE:CC) has received an average rating of “Hold” from the twelve analysts that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $24.10.

Several research firms recently weighed in on CC. UBS Group raised their price objective on Chemours from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Mizuho reduced their price target on shares of Chemours from $30.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 1st. Alembic Global Advisors reaffirmed an “overweight” rating and set a $30.00 price target on shares of Chemours in a report on Wednesday, May 13th. Truist Financial lifted their price target on shares of Chemours from $27.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Finally, Royal Bank Of Canada upped their price objective on shares of Chemours from $26.00 to $29.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th.

Institutional Investors Weigh In On Chemours

Several hedge funds have recently modified their holdings of the company. Cooper Creek Partners Management LLC acquired a new position in Chemours in the 3rd quarter worth about $63,103,000. Scopia Capital Management LP grew its holdings in shares of Chemours by 71.7% during the second quarter. Scopia Capital Management LP now owns 3,355,261 shares of the specialty chemicals company’s stock worth $38,418,000 after purchasing an additional 1,401,539 shares during the last quarter. State Street Corp increased its stake in shares of Chemours by 22.7% in the second quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company’s stock valued at $70,009,000 after buying an additional 1,131,682 shares during the period. Wolf Hill Capital Management LP acquired a new position in shares of Chemours in the third quarter valued at approximately $17,025,000. Finally, Sona Asset Management US LLC raised its holdings in Chemours by 176.9% in the 4th quarter. Sona Asset Management US LLC now owns 1,651,275 shares of the specialty chemicals company’s stock valued at $19,469,000 after buying an additional 1,055,000 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

Chemours Stock Up 1.6%

Shares of CC opened at $18.48 on Thursday. Chemours has a one year low of $10.44 and a one year high of $28.67. The company has a market cap of $2.78 billion, a P/E ratio of -6.96 and a beta of 1.41. The company has a debt-to-equity ratio of 18.98, a current ratio of 1.82 and a quick ratio of 0.87. The firm has a 50 day simple moving average of $22.38 and a two-hundred day simple moving average of $19.33.

Chemours (NYSE:CC) last issued its earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.10. Chemours had a positive return on equity of 52.49% and a negative net margin of 6.82%.The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the business posted $0.13 EPS. The company’s revenue was up 1.0% compared to the same quarter last year. Research analysts forecast that Chemours will post 1.16 EPS for the current fiscal year.

Chemours Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Sunday, May 17th were issued a dividend of $0.0875 per share. The ex-dividend date was Friday, May 15th. This represents a $0.35 annualized dividend and a dividend yield of 1.9%. Chemours’s dividend payout ratio is -13.26%.

Chemours Company Profile

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.