Chemours Co (CC) Given Average Rating of “Buy” by Brokerages

Chemours Co (NYSE:CC) has been given an average recommendation of “Buy” by the fifteen research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $58.80.

A number of research firms have recently weighed in on CC. Barclays restated a “buy” rating and set a $64.00 price target on shares of Chemours in a report on Tuesday, May 8th. Citigroup raised their price target on shares of Chemours from $66.00 to $69.00 and gave the company a “buy” rating in a report on Tuesday, May 8th. Vertical Research began coverage on shares of Chemours in a report on Monday, May 21st. They set a “buy” rating on the stock. Zacks Investment Research downgraded shares of Chemours from a “strong-buy” rating to a “hold” rating in a report on Monday, July 9th. Finally, ValuEngine downgraded shares of Chemours from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th.

CC stock opened at $47.90 on Thursday. Chemours has a 12-month low of $42.75 and a 12-month high of $58.08. The company has a debt-to-equity ratio of 3.86, a current ratio of 2.09 and a quick ratio of 1.47. The company has a market capitalization of $8.20 billion, a price-to-earnings ratio of 12.54, a P/E/G ratio of 0.52 and a beta of 2.84.

Chemours (NYSE:CC) last released its earnings results on Thursday, August 2nd. The specialty chemicals company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.18. Chemours had a net margin of 15.11% and a return on equity of 107.22%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the firm earned $0.87 EPS. The company’s revenue was up 14.4% compared to the same quarter last year. research analysts expect that Chemours will post 5.75 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 17th will be paid a $0.25 dividend. The ex-dividend date is Thursday, August 16th. This is a positive change from Chemours’s previous quarterly dividend of $0.17. This represents a $1.00 dividend on an annualized basis and a yield of 2.09%. Chemours’s dividend payout ratio (DPR) is presently 17.80%.

A number of large investors have recently bought and sold shares of the stock. Iridian Asset Management LLC CT acquired a new stake in Chemours in the 1st quarter worth $221,537,000. LSV Asset Management grew its position in Chemours by 588.7% in the 2nd quarter. LSV Asset Management now owns 1,607,336 shares of the specialty chemicals company’s stock worth $71,301,000 after purchasing an additional 1,373,936 shares during the last quarter. First Eagle Investment Management LLC acquired a new stake in Chemours in the 1st quarter worth $56,698,000. Point72 Asset Management L.P. grew its position in Chemours by 153.7% in the 1st quarter. Point72 Asset Management L.P. now owns 1,633,884 shares of the specialty chemicals company’s stock worth $79,586,000 after purchasing an additional 989,926 shares during the last quarter. Finally, Millennium Management LLC grew its position in Chemours by 201.1% in the 1st quarter. Millennium Management LLC now owns 1,370,449 shares of the specialty chemicals company’s stock worth $66,755,000 after purchasing an additional 915,367 shares during the last quarter. Institutional investors and hedge funds own 76.88% of the company’s stock.

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, Fluoroproducts, and Chemical Solutions. The Titanium Technologies segment manufactures and sells titanium dioxide under the Ti-Pure and BaiMax brands for various applications in architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride window profiles, laminate papers used for furniture and building materials, and coated papers and paperboards used for packaging.

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Analyst Recommendations for Chemours (NYSE:CC)

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