The Chemours Company (NYSE:CC) Receives $22.56 Average Target Price from Brokerages

The Chemours Company (NYSE:CC) has been assigned a consensus rating of “Moderate Buy” from the nine research firms that are covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $22.56.

CC has been the topic of a number of research reports. Barclays lowered their target price on Chemours from $19.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 1st. The Goldman Sachs Group dropped their price objective on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Truist Financial started coverage on shares of Chemours in a research report on Tuesday, January 28th. They set a “buy” rating and a $27.00 target price for the company. BMO Capital Markets lowered their target price on shares of Chemours from $34.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Finally, Morgan Stanley cut their price target on Chemours from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in Chemours by 99.7% in the fourth quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 765 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of Chemours by 100.4% during the 4th quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company’s stock valued at $38,000 after buying an additional 1,119 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Chemours during the 4th quarter valued at $48,000. Itau Unibanco Holding S.A. lifted its holdings in shares of Chemours by 39.3% during the 4th quarter. Itau Unibanco Holding S.A. now owns 3,554 shares of the specialty chemicals company’s stock worth $60,000 after acquiring an additional 1,003 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Chemours in the fourth quarter valued at $91,000. 76.26% of the stock is owned by institutional investors.

Chemours Trading Up 4.3 %

CC opened at $11.28 on Tuesday. The company has a debt-to-equity ratio of 6.70, a current ratio of 1.68 and a quick ratio of 0.92. Chemours has a fifty-two week low of $9.33 and a fifty-two week high of $29.21. The company’s 50 day moving average price is $14.54 and its two-hundred day moving average price is $17.62. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 19.78 and a beta of 1.84.

Chemours (NYSE:CC) last issued its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. Chemours had a return on equity of 26.54% and a net margin of 1.51%. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.37 billion. As a group, research analysts predict that Chemours will post 2.03 earnings per share for the current year.

Chemours Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.00 dividend on an annualized basis and a yield of 8.87%. Chemours’s payout ratio is 175.44%.

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.