Chemours Co. (CC) to Post FY2018 Earnings of $2.25 Per Share, Jefferies Group Forecasts
Chemours Co. (NYSE:CC) – Analysts at Jefferies Group upped their FY2018 EPS estimates for shares of Chemours in a report released on Wednesday. Jefferies Group analyst L. Alexander now expects that the firm will earn $2.25 per share for the year, up from their previous estimate of $2.10. Jefferies Group currently has a “Hold” rating and a $25.00 target price on the stock.
CC has been the subject of several other reports. TheStreet upgraded shares of Chemours from a “sell” rating to a “hold” rating in a research note on Tuesday, August 9th. Citigroup Inc. lowered their target price on shares of Chemours from $11.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, August 11th. Zacks Investment Research upgraded shares of Chemours from a “hold” rating to a “strong-buy” rating and set a $14.00 target price for the company in a research note on Wednesday, August 17th. Finally, Argus upgraded shares of Chemours from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Wednesday, August 10th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Chemours has an average rating of “Hold” and an average price target of $14.79.
Shares of Chemours (NYSE:CC) traded up 0.09% during midday trading on Friday, hitting $22.68. The company had a trading volume of 2,818,584 shares. The stock has a 50 day moving average price of $16.57 and a 200 day moving average price of $11.85. The firm has a market capitalization of $4.12 billion, a P/E ratio of 27.46 and a beta of 3.09. Chemours has a 1-year low of $3.06 and a 1-year high of $22.89.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, November 17th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a $0.12 annualized dividend and a dividend yield of 0.53%. Chemours’s dividend payout ratio (DPR) is presently 14.81%.
Several hedge funds have recently made changes to their positions in CC. Howard Hughes Medical Institute raised its stake in shares of Chemours by 156.0% in the second quarter. Howard Hughes Medical Institute now owns 53,485 shares of the company’s stock valued at $441,000 after buying an additional 32,590 shares during the period. Swiss National Bank raised its stake in shares of Chemours by 7.4% in the second quarter. Swiss National Bank now owns 312,539 shares of the company’s stock valued at $2,575,000 after buying an additional 21,600 shares during the period. Societe Generale bought a new stake in shares of Chemours during the second quarter valued at about $438,000. Oregon Public Employees Retirement Fund bought a new stake in shares of Chemours during the second quarter valued at about $191,000. Finally, Seaward Management Limited Partnership raised its stake 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 valued at $103,000 after buying an additional 1,765 shares during the period. Institutional investors and hedge funds own 76.65% of the company’s stock.
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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