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

Shares of The Chemours Company (NYSE:CC) have been given an average rating of “Hold” by the eight brokerages that are presently covering the company, Marketbeat reports. Five 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 analysts that have updated their coverage on the stock in the last year is $24.88.

CC has been the subject of several research analyst reports. BMO Capital Markets lifted their price target on Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Morgan Stanley cut their target price on Chemours from $30.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. 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 research note on Tuesday, November 5th. The Goldman Sachs Group cut their price objective on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, September 3rd. Finally, Royal Bank of Canada decreased their target price on shares of Chemours from $28.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th.

Insiders Place Their Bets

In related news, SVP Alvenia Scarborough sold 7,500 shares of the company’s stock in a transaction that occurred on 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 transaction, the senior vice president now owns 16,645 shares in the company, valued at $343,552.80. This represents a 31.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.47% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Appian Way Asset Management LP bought a new position in shares of Chemours in the 3rd quarter worth approximately $34,151,000. Vision One Management Partners LP bought a new position in shares of Chemours in the 3rd quarter worth about $28,252,000. Marshall Wace LLP lifted its holdings in shares of Chemours by 23.8% during the second quarter. Marshall Wace LLP now owns 7,009,868 shares of the specialty chemicals company’s stock valued at $158,213,000 after purchasing an additional 1,347,710 shares during the last quarter. Khrom Capital Management LLC raised its stake in Chemours by 54.6% during the second quarter. Khrom Capital Management LLC now owns 3,456,626 shares of the specialty chemicals company’s stock valued at $78,016,000 after buying an additional 1,220,967 shares during the last quarter. Finally, Scopia Capital Management LP bought a new stake in Chemours in the third quarter worth $13,623,000. 76.26% of the stock is currently owned by institutional investors.

Chemours Stock Performance

NYSE CC opened at $21.00 on Wednesday. The company’s 50 day simple moving average is $19.88 and its two-hundred day simple moving average is $21.08. The company has a debt-to-equity ratio of 6.05, a current ratio of 1.73 and a quick ratio of 0.92. Chemours has a 1 year low of $15.10 and a 1 year high of $32.70. The stock has a market capitalization of $3.14 billion, a PE ratio of 42.00 and a beta of 1.80.

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

Chemours Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 4.76%. Chemours’s payout ratio is currently 200.00%.

About Chemours

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.