The Chemours Company (NYSE:CC) Given Consensus Recommendation of “Hold” by Brokerages

The Chemours Company (NYSE:CC) has been given a consensus recommendation of “Hold” by the twelve analysts that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $24.60.

Several analysts recently commented on CC shares. UBS Group boosted their price target on Chemours from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Zacks Research upgraded Chemours from a “strong sell” rating to a “hold” rating in a report on Friday, April 24th. Morgan Stanley upped their target price on Chemours from $17.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. BMO Capital Markets dropped their target price on Chemours from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Monday, February 23rd. Finally, Jefferies Financial Group restated a “hold” rating and issued a $17.00 target price on shares of Chemours in a report on Monday, February 23rd.

Hedge Funds Weigh In On Chemours

Several large investors have recently modified their holdings of CC. Cooper Creek Partners Management LLC acquired a new position in shares of Chemours in the 3rd quarter valued at $63,103,000. Scopia Capital Management LP lifted its stake in shares of Chemours by 71.7% in the 2nd quarter. Scopia Capital Management LP now owns 3,355,261 shares of the specialty chemicals company’s stock valued at $38,418,000 after purchasing an additional 1,401,539 shares during the last quarter. State Street Corp lifted its stake in shares of Chemours by 22.7% in the 2nd quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company’s stock valued at $70,009,000 after purchasing an additional 1,131,682 shares during the last quarter. Wolf Hill Capital Management LP acquired a new position in shares of Chemours in the 3rd quarter valued at $17,025,000. Finally, Sona Asset Management US LLC lifted its stake in shares of Chemours by 176.9% in the 4th quarter. Sona Asset Management US LLC now owns 1,651,275 shares of the specialty chemicals company’s stock valued at $19,469,000 after purchasing an additional 1,055,000 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

Chemours Stock Down 5.6%

Shares of CC opened at $20.46 on Friday. The company has a debt-to-equity ratio of 18.98, a quick ratio of 0.87 and a current ratio of 1.82. Chemours has a one year low of $10.14 and a one year high of $28.67. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of -7.75 and a beta of 1.39. The stock has a 50 day moving average price of $23.11 and a 200 day moving average price of $18.02.

Chemours (NYSE:CC) last issued its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.10. Chemours had a positive return on equity of 52.49% and a negative net margin of 6.82%.The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the previous year, the business earned $0.13 earnings per share. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities research analysts forecast that Chemours will post 1.27 earnings per share for the current fiscal year.

Chemours Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Sunday, May 17th will be paid a $0.0875 dividend. This represents a $0.35 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, May 15th. Chemours’s dividend payout ratio is -13.26%.

Chemours Company Profile

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours’ principal business activities are organized into three core segments.