Chemours (NYSE:CC) Reaches New 1-Year High - Still a Buy?

Key Points

• Chemours hit a new 52-week high of $21.86 in mid-day trading, with the stock last at $21.85 and a market cap of $3.22 billion.
• Analyst views are mixed: five Buy, five Hold and two Sell ratings produce an average consensus of "Hold" and a mean price target of $18.40 despite several recent target uplifts.
• Quarterly results beat EPS expectations ($0.05 vs $0.01) on $1.33B revenue (down 2.2% YoY), but the company reported a negative net margin (-6.41%), high ROE (41.75%), and a modest annualized dividend yield of 1.6%.

The Chemours Company (NYSE:CC - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $21.86 and last traded at $21.85, with a volume of 60192 shares. The stock had previously closed at $21.58.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CC shares. Morgan Stanley lifted their target price on Chemours from $15.00 to $17.00 and gave the company an "equal weight" rating in a research report on Monday, February 23rd. Jefferies Financial Group restated a "hold" rating and set a $17.00 price target on shares of Chemours in a research note on Monday, February 23rd. Mizuho lifted their price objective on Chemours from $17.00 to $21.00 and gave the company an "outperform" rating in a report on Thursday, March 5th. The Goldman Sachs Group upped their price objective on shares of Chemours from $14.00 to $18.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 25th. Finally, Truist Financial increased their target price on shares of Chemours from $18.00 to $21.00 and gave the stock a "buy" rating in a report on Wednesday, January 21st. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $18.40.

Chemours Price Performance

The firm has a 50-day simple moving average of $17.88 and a 200-day simple moving average of $15.09. The firm has a market cap of $3.22 billion, a P/E ratio of -8.62 and a beta of 1.60. The company has a current ratio of 1.78, a quick ratio of 0.85 and a debt-to-equity ratio of 16.33.

Chemours (NYSE:CC - Get Free Report) last released its quarterly earnings results on Thursday, February 19th. The specialty chemicals company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.01 by $0.04. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. Chemours had a positive return on equity of 41.75% and a negative net margin of 6.41%.The business's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.09 EPS. As a group, analysts forecast that The Chemours Company will post 2.03 EPS for the current year.

Chemours Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were issued a $0.0875 dividend. The ex-dividend date was Friday, February 27th. This represents a $0.35 dividend on an annualized basis and a yield of 1.6%. Chemours's payout ratio is currently -14.11%.

Institutional Trading of Chemours

A number of institutional investors have recently modified their holdings of CC. Baird Financial Group Inc. bought a new position in shares of Chemours during the 1st quarter worth approximately $148,000. Royal Bank of Canada grew its holdings in Chemours by 6.8% in the first quarter. Royal Bank of Canada now owns 585,702 shares of the specialty chemicals company's stock worth $7,926,000 after purchasing an additional 37,382 shares during the last quarter. AQR Capital Management LLC purchased a new position in Chemours in the first quarter worth $161,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Chemours by 149.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,243 shares of the specialty chemicals company's stock worth $593,000 after purchasing an additional 25,899 shares in the last quarter. Finally, Empowered Funds LLC acquired a new position in shares of Chemours during the first quarter worth $403,000. 76.26% of the stock is currently owned by 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.

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