Brokerages Set The Chemours Company (NYSE:CC) Price Target at $18.40

Shares of The Chemours Company (NYSE:CC) have earned a consensus recommendation of “Hold” from the twelve research firms that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $18.40.

CC has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on shares of Chemours from $15.00 to $17.00 and gave the company an “equal weight” rating in a research report on Monday, February 23rd. Weiss Ratings restated a “sell (d)” rating on shares of Chemours in a research report on Wednesday, January 21st. BMO Capital Markets reduced their target price on shares of Chemours from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Monday, February 23rd. The Goldman Sachs Group lifted their target price on shares of Chemours from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. Finally, UBS Group boosted their price target on shares of Chemours from $18.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd.

Chemours Stock Performance

Shares of Chemours stock opened at $21.16 on Tuesday. The firm’s fifty day simple moving average is $18.11 and its 200-day simple moving average is $15.14. Chemours has a 12 month low of $9.13 and a 12 month high of $22.33. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of -8.53 and a beta of 1.60. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.78 and a quick ratio of 0.85.

Chemours (NYSE:CC) last posted its quarterly earnings data on Thursday, February 19th. The specialty chemicals company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Chemours had a positive return on equity of 41.75% and a negative net margin of 6.41%.The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period last year, the firm earned $0.09 EPS. As a group, equities analysts forecast that Chemours will post 2.03 earnings per share for the current year.

Chemours Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were given a $0.0875 dividend. The ex-dividend date was Friday, February 27th. This represents a $0.35 annualized dividend and a dividend yield of 1.7%. Chemours’s payout ratio is currently -14.11%.

Institutional Trading of Chemours

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cooper Creek Partners Management LLC acquired a new stake in Chemours during the third quarter worth about $63,103,000. Scopia Capital Management LP increased its stake in Chemours by 71.7% during the 2nd quarter. Scopia Capital Management LP now owns 3,355,261 shares of the specialty chemicals company’s stock worth $38,418,000 after buying an additional 1,401,539 shares during the period. State Street Corp lifted its stake in shares of Chemours by 22.7% in the second quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company’s stock worth $70,009,000 after acquiring an additional 1,131,682 shares in the last quarter. Wolf Hill Capital Management LP acquired a new position in shares of Chemours in the 3rd quarter valued at approximately $17,025,000. Finally, Sona Asset Management US LLC lifted its position in shares of Chemours by 176.9% during the fourth quarter. Sona Asset Management US LLC now owns 1,651,275 shares of the specialty chemicals company’s stock worth $19,469,000 after purchasing an additional 1,055,000 shares during the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

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.