Chemours (NYSE:CC) Sets New 1-Year High - Should You Buy?

Key Points

• Chemours hit a new 52-week high, trading as high as $23.20 (last $23.07) on volume of about 1.9M shares and is trading well above its 50‑day ($19.39) and 200‑day ($15.50) moving averages.
• Analyst sentiment is mixed — five Buys, five Holds and two Sells — giving an average rating of "Hold" with an average price target of $20.40, though UBS recently raised its target to $29 and reiterated a Buy.
• Fundamentals are mixed: Chemours beat EPS expectations ($0.05 vs. $0.01) on roughly $1.33B revenue, but has a negative net margin (-6.41%) and negative P/E (-9.30); the company pays a quarterly dividend of $0.0875 (about a 1.5% yield).

The Chemours Company (NYSE:CC - Get Free Report)'s share price hit a new 52-week high on Tuesday . The stock traded as high as $23.20 and last traded at $23.0650, with a volume of 1900304 shares trading hands. The stock had previously closed at $22.71.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CC shares. UBS Group lifted their target price on shares of Chemours from $23.00 to $29.00 and gave the company a "buy" rating in a research report on Thursday, April 9th. BMO Capital Markets decreased their target price on shares of Chemours from $20.00 to $19.00 and set an "outperform" rating on the stock in a research report on Monday, February 23rd. Mizuho lifted their target price on shares of Chemours from $17.00 to $21.00 and gave the company an "outperform" rating in a research report on Thursday, March 5th. Weiss Ratings reiterated a "sell (d)" rating on shares of Chemours in a research report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Chemours from $13.00 to $17.00 and gave the company a "neutral" rating in a research report on Monday, February 23rd. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $20.40.

Chemours Stock Performance

The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of -9.30 and a beta of 1.41. The company has a quick ratio of 0.85, a current ratio of 1.78 and a debt-to-equity ratio of 16.33. The stock's 50-day simple moving average is $19.39 and its 200 day simple moving average is $15.50.

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, beating analysts' consensus estimates of $0.01 by $0.04. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. Chemours had a negative net margin of 6.41% and a positive return on equity of 41.75%. The company'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 business earned $0.09 earnings per share. Analysts expect that The Chemours Company will post 2.03 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders 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 dividend on an annualized basis and a yield of 1.5%. Chemours's payout ratio is -14.11%.

Hedge Funds Weigh In On Chemours

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund lifted its position in shares of Chemours by 1.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 34,300 shares of the specialty chemicals company's stock worth $404,000 after purchasing an additional 600 shares in the last quarter. Amalgamated Bank lifted its position in shares of Chemours by 1.7% during the third quarter. Amalgamated Bank now owns 43,528 shares of the specialty chemicals company's stock worth $689,000 after purchasing an additional 740 shares in the last quarter. PFG Investments LLC lifted its position in shares of Chemours by 7.6% during the fourth quarter. PFG Investments LLC now owns 12,494 shares of the specialty chemicals company's stock worth $147,000 after purchasing an additional 883 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Chemours by 1.2% during the fourth quarter. State of Alaska Department of Revenue now owns 76,257 shares of the specialty chemicals company's stock worth $899,000 after purchasing an additional 932 shares in the last quarter. Finally, Man Group plc lifted its position in shares of Chemours by 0.4% during the second quarter. Man Group plc now owns 271,108 shares of the specialty chemicals company's stock worth $3,104,000 after purchasing an additional 979 shares in the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

About Chemours

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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