Brokerages Set The Chemours Company (NYSE:CC) Target Price at $24.88

The Chemours Company (NYSE:CC) has received an average recommendation of “Hold” from the eight brokerages that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $24.88.

A number of analysts recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $25.00 price objective on shares of Chemours in a research report on Thursday, December 12th. Barclays lifted their price target on shares of Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. BMO Capital Markets upped their price objective on shares of Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Finally, Morgan Stanley lowered their target price on shares of Chemours from $30.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th.

Chemours Stock Performance

NYSE:CC opened at $16.71 on Friday. Chemours has a twelve month low of $15.10 and a twelve month high of $32.48. The company has a market capitalization of $2.50 billion, a P/E ratio of 33.42 and a beta of 1.80. The company has a current ratio of 1.73, a quick ratio of 0.92 and a debt-to-equity ratio of 6.05. The firm has a 50-day moving average price of $19.34 and a two-hundred day moving average price of $20.15.

Chemours (NYSE:CC) last announced its earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. Chemours had a return on equity of 29.48% and a net margin of 1.34%. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. Chemours’s quarterly revenue was up .9% on a year-over-year basis. As a group, research analysts expect that Chemours will post 1.35 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 15th were issued a $0.25 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 5.98%. Chemours’s payout ratio is 200.00%.

Insiders Place Their Bets

In other Chemours news, SVP Alvenia Scarborough sold 7,500 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $20.64, for a total transaction of $154,800.00. Following the completion of the sale, the senior vice president now owns 16,645 shares of the company’s stock, valued at approximately $343,552.80. The trade was a 31.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.47% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chemours

Several hedge funds and other institutional investors have recently modified their holdings of CC. Bank of New York Mellon Corp lifted its holdings in shares of Chemours by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,606,453 shares of the specialty chemicals company’s stock valued at $36,258,000 after acquiring an additional 22,209 shares in the last quarter. Panagora Asset Management Inc. boosted its position in shares of Chemours by 25.2% in the second quarter. Panagora Asset Management Inc. now owns 9,748 shares of the specialty chemicals company’s stock worth $220,000 after buying an additional 1,962 shares during the period. Arizona State Retirement System boosted its position in shares of Chemours by 2.1% in the second quarter. Arizona State Retirement System now owns 41,657 shares of the specialty chemicals company’s stock worth $940,000 after buying an additional 863 shares during the period. Custom Index Systems LLC acquired a new stake in shares of Chemours in the second quarter valued at about $398,000. Finally, Private Management Group Inc. raised its holdings in shares of Chemours by 2.0% during the 2nd quarter. Private Management Group Inc. now owns 456,772 shares of the specialty chemicals company’s stock valued at $10,309,000 after buying an additional 9,057 shares during the period. 76.26% of the stock is owned by institutional investors and hedge funds.

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.