Analysts Set The Chemours Company (NYSE:CC) PT at $23.11

Shares of The Chemours Company (NYSE:CC) have earned an average recommendation of “Hold” from the nine brokerages that are currently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $23.11.

Several research firms recently issued reports on CC. The Goldman Sachs Group dropped their price target on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. BMO Capital Markets dropped their target price on Chemours from $34.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $25.00 price target on shares of Chemours in a research note on Thursday, December 12th. Morgan Stanley lowered their price target on Chemours from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Finally, Truist Financial initiated coverage on Chemours in a report on Tuesday, January 28th. They set a “buy” rating and a $27.00 price objective for the company.

Chemours Stock Performance

NYSE:CC opened at $14.43 on Friday. The firm’s 50-day moving average is $17.21 and its 200-day moving average is $18.48. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 25.31 and a beta of 2.00. The company has a debt-to-equity ratio of 6.70, a quick ratio of 0.92 and a current ratio of 1.68. Chemours has a 52-week low of $13.09 and a 52-week high of $29.21.

Chemours (NYSE:CC) last issued its earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Chemours had a return on equity of 26.54% and a net margin of 1.51%. Equities research analysts anticipate 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. Stockholders of record on Friday, February 28th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.93%. Chemours’s dividend payout ratio (DPR) is presently 175.44%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Polar Asset Management Partners Inc. bought a new position in shares of Chemours in the fourth quarter worth about $2,392,000. iSAM Funds UK Ltd acquired a new stake in shares of Chemours in the fourth quarter valued at approximately $332,000. Vision One Management Partners LP raised its position in Chemours by 12.1% in the 4th quarter. Vision One Management Partners LP now owns 1,558,498 shares of the specialty chemicals company’s stock worth $26,339,000 after purchasing an additional 168,148 shares during the last quarter. Two Sigma Advisers LP raised its position in Chemours by 31.5% in the 4th quarter. Two Sigma Advisers LP now owns 661,500 shares of the specialty chemicals company’s stock worth $11,179,000 after purchasing an additional 158,400 shares during the last quarter. Finally, Two Sigma Investments LP lifted its holdings in Chemours by 22.4% during the 4th quarter. Two Sigma Investments LP now owns 1,155,437 shares of the specialty chemicals company’s stock worth $19,527,000 after buying an additional 211,641 shares in the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

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.