Brokerages Set The Chemours Company (NYSE:CC) Price Target at $30.89

Shares of The Chemours Company (NYSE:CC) have earned a consensus rating of “Hold” from the eight brokerages that are covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $31.63.

A number of analysts recently commented on CC shares. UBS Group raised their price target on Chemours from $21.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Barclays dropped their price target on Chemours from $32.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 2nd. Finally, BMO Capital Markets raised Chemours from an “underperform” rating to an “outperform” rating and raised their price target for the stock from $19.00 to $34.00 in a research note on Tuesday, April 9th.

Chemours Stock Up 1.1 %

Shares of NYSE CC opened at $27.32 on Tuesday. Chemours has a one year low of $15.10 and a one year high of $39.05. The company has a debt-to-equity ratio of 5.40, a current ratio of 1.54 and a quick ratio of 1.00. The firm’s 50 day simple moving average is $26.70 and its two-hundred day simple moving average is $27.82. The stock has a market capitalization of $4.07 billion, a P/E ratio of -17.63 and a beta of 2.00.

Chemours (NYSE:CC) last issued its quarterly earnings results on Wednesday, March 27th. The specialty chemicals company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. Chemours had a negative net margin of 3.80% and a positive return on equity of 51.73%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.37 billion. As a group, analysts expect that Chemours will post 2.23 EPS for the current fiscal year.

Chemours Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.00 annualized dividend and a yield of 3.66%. Chemours’s payout ratio is -64.52%.

Institutional Investors Weigh In On Chemours

Several large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its stake in shares of Chemours by 11.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,196,063 shares of the specialty chemicals company’s stock valued at $173,800,000 after purchasing an additional 612,071 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Chemours by 50.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,763,368 shares of the specialty chemicals company’s stock valued at $150,237,000 after purchasing an additional 1,602,628 shares during the period. Vaughan Nelson Investment Management L.P. grew its stake in shares of Chemours by 91.5% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,645,676 shares of the specialty chemicals company’s stock valued at $69,476,000 after purchasing an additional 1,263,875 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Chemours by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,547,094 shares of the specialty chemicals company’s stock valued at $80,342,000 after purchasing an additional 53,254 shares during the period. Finally, Deutsche Bank AG grew its stake in shares of Chemours by 4,407.9% during the 3rd quarter. Deutsche Bank AG now owns 1,759,419 shares of the specialty chemicals company’s stock valued at $49,352,000 after purchasing an additional 1,720,389 shares during the period. 76.26% of the stock is currently owned by institutional investors.

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.