Chemours Co. (CC) Given Average Recommendation of “Hold” by Analysts
Chemours Co. (NYSE:CC) has earned an average rating of “Hold” from the nine brokerages that are currently covering the company. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $11.94.
Several equities analysts have recently issued reports on the company. Jefferies Group lifted their price target on Chemours from $10.00 to $15.00 and gave the company a “hold” rating in a research note on Thursday, September 1st. Zacks Investment Research upgraded Chemours from a “hold” rating to a “strong-buy” rating and set a $14.00 price objective on the stock in a research report on Wednesday, August 17th. Citigroup Inc. reduced their price objective on Chemours from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, August 11th. TheStreet upgraded Chemours from a “sell” rating to a “hold” rating in a research report on Tuesday, August 9th. Finally, Argus upgraded Chemours from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research report on Wednesday, August 10th. They noted that the move was a valuation call.
Shares of Chemours (NYSE:CC) traded down 1.06% during midday trading on Wednesday, hitting $14.90. The company’s stock had a trading volume of 557,687 shares. The company’s market cap is $2.71 billion. The company has a 50-day moving average price of $14.24 and a 200 day moving average price of $10.36. Chemours has a 1-year low of $3.06 and a 1-year high of $16.32.
Chemours (NYSE:CC) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.10. Chemours had a positive return on equity of 95.01% and a negative net margin of 1.48%. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the company posted ($0.10) EPS. The company’s revenue for the quarter was down 8.3% compared to the same quarter last year. On average, equities research analysts predict that Chemours will post $0.92 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 17th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend was Monday, August 15th. Chemours’s payout ratio is presently -26.09%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning increased its position in shares of Chemours by 33.5% in the third quarter. Creative Planning now owns 10,677 shares of the company’s stock valued at $171,000 after buying an additional 2,678 shares during the last quarter. Advisor Partners LLC increased its position in shares of Chemours by 5.0% in the second quarter. Advisor Partners LLC now owns 12,156 shares of the company’s stock worth $100,000 after buying an additional 580 shares in the last quarter. Seaward Management Limited Partnership increased its position in shares of Chemours by 16.3% in the second quarter. Seaward Management Limited Partnership now owns 12,568 shares of the company’s stock worth $103,000 after buying an additional 1,765 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Chemours during the second quarter worth about $118,000. Finally, Winton Capital Group Ltd increased its position in shares of Chemours by 1.3% in the second quarter. Winton Capital Group Ltd now owns 15,473 shares of the company’s stock worth $127,000 after buying an additional 194 shares in the last quarter. 76.63% of the stock is currently owned by hedge funds and other institutional investors.
Chemours Company Profile
The Chemours Company is a provider of performance chemicals. The Company operates through three segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Company’s Titanium Technologies segment manufactures titanium dioxide (TiO2), which is a pigment used to deliver whiteness, opacity, brightness and protection from sunlight in applications, such as architectural and industrial coatings, plastic packaging, polyvinyl chloride (PVC) window profiles, laminate papers, coated paper and coated paperboard used for packaging.
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