The Chemours Company (NYSE:CC) Receives $24.11 Consensus Target Price from Brokerages

Shares of The Chemours Company (NYSE:CC) have received an average recommendation of “Hold” from the nine research firms that are covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $23.56.

Several analysts have recently issued reports on the stock. Barclays upped their target price on shares of Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Royal Bank of Canada restated an “outperform” rating and set a $25.00 price target on shares of Chemours in a research report on Thursday, December 12th. BMO Capital Markets reduced their price target on shares of Chemours from $34.00 to $27.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Truist Financial began coverage on shares of Chemours in a research report on Tuesday, January 28th. They set a “buy” rating and a $27.00 price target for the company. Finally, Morgan Stanley reduced their price target on shares of Chemours from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th.

Institutional Investors Weigh In On Chemours

Institutional investors have recently added to or reduced their stakes in the business. Strategic Financial Concepts LLC purchased a new stake in Chemours during the fourth quarter valued at about $357,000. Vision One Management Partners LP purchased a new stake in shares of Chemours in the third quarter worth about $28,252,000. Two Sigma Advisers LP lifted its holdings in shares of Chemours by 9.4% in the third quarter. Two Sigma Advisers LP now owns 503,100 shares of the specialty chemicals company’s stock worth $10,223,000 after buying an additional 43,200 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of Chemours in the fourth quarter worth about $266,000. Finally, Twelve Points Wealth Management LLC lifted its holdings in shares of Chemours by 42.8% in the fourth quarter. Twelve Points Wealth Management LLC now owns 78,325 shares of the specialty chemicals company’s stock worth $1,324,000 after buying an additional 23,490 shares in the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

Chemours Stock Performance

NYSE CC opened at $16.77 on Monday. Chemours has a 1 year low of $15.10 and a 1 year high of $29.83. The company has a debt-to-equity ratio of 6.70, a current ratio of 1.68 and a quick ratio of 0.92. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 29.42 and a beta of 1.81. The company has a fifty day moving average price of $18.09 and a 200-day moving average price of $18.92.

Chemours (NYSE:CC) last posted its earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. Chemours had a net margin of 1.51% and a return on equity of 26.54%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.37 billion. As a group, equities research analysts predict that Chemours will post 2.03 EPS for the current fiscal year.

Chemours Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.96%. The ex-dividend date of this dividend is Friday, February 28th. Chemours’s dividend payout ratio (DPR) is presently 175.44%.

Chemours Company Profile

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through three segments: Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.