The Chemours Company (NYSE:CC) Receives $24.88 Consensus Target Price from Analysts

Shares of The Chemours Company (NYSE:CC) have been assigned an average rating of “Hold” from the eight analysts that are currently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $24.88.

Several equities research analysts have weighed in on CC shares. The Goldman Sachs Group decreased their price target 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. Morgan Stanley reduced their price objective 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 upped their target price on Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Royal Bank of Canada reduced their price target on shares of Chemours from $28.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Finally, BMO Capital Markets upped their price objective on shares of Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, October 7th.

Insider Activity

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 value of $154,800.00. Following the transaction, the senior vice president now owns 16,645 shares in the company, valued at approximately $343,552.80. This represents a 31.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.47% of the company’s stock.

Institutional Trading of Chemours

Several hedge funds have recently made changes to their positions in CC. Blue Trust Inc. boosted its holdings in Chemours by 166.9% in the 3rd quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 731 shares during the period. Matrix Trust Co purchased a new stake in shares of Chemours during the third quarter worth $25,000. Truvestments Capital LLC bought a new position in shares of Chemours in the third quarter worth $35,000. Brooklyn Investment Group bought a new stake in shares of Chemours during the 3rd quarter valued at $37,000. Finally, Signaturefd LLC lifted its holdings in Chemours by 163.7% during the 3rd quarter. Signaturefd LLC now owns 1,959 shares of the specialty chemicals company’s stock worth $40,000 after purchasing an additional 1,216 shares in the last quarter. 76.26% of the stock is currently owned by institutional investors.

Chemours Price Performance

Shares of CC opened at $21.00 on Wednesday. The business has a 50-day simple moving average of $19.88 and a two-hundred day simple moving average of $21.08. Chemours has a 12-month low of $15.10 and a 12-month high of $32.70. The stock has a market cap of $3.14 billion, a PE ratio of 42.00 and a beta of 1.80. The company has a quick ratio of 0.92, a current ratio of 1.73 and a debt-to-equity ratio of 6.05.

Chemours (NYSE:CC) last released 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 the consensus estimate of $1.44 billion. Chemours had a return on equity of 29.48% and a net margin of 1.34%. The firm’s revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 earnings per share. Analysts anticipate that Chemours will post 1.35 earnings per share for the current fiscal year.

Chemours Dividend Announcement

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

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.