Brokerages Set The Chemours Company (NYSE:CC) Target Price at $26.75

Shares of The Chemours Company (NYSE:CC) have earned a consensus recommendation of “Hold” from the eight ratings firms that are covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $26.75.

Several analysts recently weighed in on CC shares. Mizuho assumed coverage on Chemours in a report on Friday, June 7th. They issued a “neutral” rating and a $25.00 price objective for the company. UBS Group dropped their target price on Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Barclays cut their target price on Chemours from $30.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 6th. BMO Capital Markets cut their price objective on shares of Chemours from $35.00 to $30.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. reduced their price target on Chemours from $25.00 to $18.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th.

Chemours Stock Performance

Chemours stock opened at $18.70 on Friday. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.89 and a quick ratio of 1.01. The firm has a market capitalization of $2.78 billion, a P/E ratio of -8.62 and a beta of 1.74. Chemours has a 1-year low of $15.10 and a 1-year high of $32.70. The company’s 50-day moving average is $20.05 and its 200 day moving average is $23.88.

Chemours (NYSE:CC) last released its earnings results on Thursday, August 1st. The specialty chemicals company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.19). The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Chemours had a return on equity of 33.21% and a net margin of 2.16%. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.10 EPS. Research analysts forecast that Chemours will post 1.33 EPS for the current year.

Chemours Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 15th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.35%. The ex-dividend date was Thursday, August 15th. Chemours’s payout ratio is -46.08%.

Institutional Trading of Chemours

Hedge funds have recently modified their holdings of the stock. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Chemours by 169.3% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 35,105 shares of the specialty chemicals company’s stock worth $1,009,000 after buying an additional 22,067 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of Chemours in the first quarter valued at approximately $1,764,000. Edgestream Partners L.P. purchased a new stake in shares of Chemours during the first quarter worth approximately $1,228,000. Assenagon Asset Management S.A. purchased a new position in Chemours in the 2nd quarter valued at $2,504,000. Finally, Easterly Investment Partners LLC purchased a new stake in Chemours during the 1st quarter valued at about $1,153,000. Hedge funds and other institutional investors own 76.26% 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, 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.