Jefferies Group Comments on Chemours Co.’s FY2017 Earnings (CC)
Chemours Co. (NYSE:CC) – Stock analysts at Jefferies Group raised their FY2017 earnings per share estimates for Chemours in a research note issued on Wednesday. Jefferies Group analyst L. Alexander now anticipates that the brokerage will post earnings per share of $1.80 for the year, up from their previous estimate of $1.65. Jefferies Group currently has a “Hold” rating and a $25.00 target price on the stock. Jefferies Group also issued estimates for Chemours’ FY2019 earnings at $2.45 EPS and FY2020 earnings at $2.75 EPS.
Several other equities analysts also recently commented on the stock. Zacks Investment Research raised shares of Chemours from a “hold” rating to a “strong-buy” rating and set a $14.00 target price on the stock in a research report on Wednesday, August 17th. Argus raised shares of Chemours from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Wednesday, August 10th. They noted that the move was a valuation call. Citigroup Inc. lowered their target price on shares of Chemours from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, August 11th. Finally, TheStreet raised shares of Chemours from a “sell” rating to a “hold” rating in a research report on Tuesday, August 9th. 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 assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $14.79.
Shares of Chemours (NYSE:CC) traded up 0.09% during mid-day trading on Thursday, reaching $22.68. The company’s stock had a trading volume of 2,818,584 shares. Chemours has a 12 month low of $3.06 and a 12 month high of $22.89. The company has a 50 day moving average price of $16.57 and a 200 day moving average price of $11.85. The stock has a market capitalization of $4.12 billion, a P/E ratio of 27.46 and a beta of 3.09.
A number of large investors have recently added to or reduced their stakes in CC. Advisor Partners LLC increased its stake in 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 during the period. Seaward Management Limited Partnership increased its stake in 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 during the period. LS Investment Advisors LLC increased its stake in Chemours by 3.9% in the third quarter. LS Investment Advisors LLC now owns 6,997 shares of the company’s stock worth $112,000 after buying an additional 265 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in Chemours during the second quarter worth $118,000. Finally, Quantbot Technologies LP purchased a new stake in Chemours during the third quarter worth $124,000. 76.65% of the stock is currently owned by institutional investors and hedge funds.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, November 17th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Tuesday, November 15th. Chemours’s dividend payout ratio (DPR) is presently 14.81%.
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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