Chemours (NYSE:CC) Sets New 1-Year High - What's Next?

Key Points

• 52-week high: Chemours shares hit a new 52-week high of $26.98 (last $26.475) on Tuesday with about 2.22 million shares traded, trading well above its 50- and 200-day moving averages.
• Mixed analyst view: The consensus rating is "Hold" with an average price target of $20.40 (below the current share price); analyst opinions are split (5 Buy, 5 Hold, 2 Sell) and recent price-target revisions have ranged roughly $13–$21.
• Fundamentals and dividend: Latest quarter showed an EPS beat ($0.05 vs. $0.01) and revenue roughly in line at $1.33B, but the company still has a negative net margin (-6.41%) and negative P/E, and pays a small quarterly dividend of $0.0875 (≈1.3% yield).

The Chemours Company (NYSE:CC - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $26.98 and last traded at $26.4750, with a volume of 2215717 shares traded. The stock had previously closed at $26.61.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CC. BMO Capital Markets dropped their price objective on Chemours from $20.00 to $19.00 and set an "outperform" rating for the company in a report on Monday, February 23rd. Jefferies Financial Group reiterated a "hold" rating and issued a $17.00 price objective on shares of Chemours in a report on Monday, February 23rd. JPMorgan Chase & Co. increased their price objective on Chemours from $13.00 to $17.00 and gave the stock a "neutral" rating in a report on Monday, February 23rd. The Goldman Sachs Group increased their price objective on Chemours from $14.00 to $18.00 and gave the stock a "neutral" rating in a report on Wednesday, February 25th. Finally, Mizuho increased their price objective on Chemours from $17.00 to $21.00 and gave the stock an "outperform" rating in a report on Thursday, March 5th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $20.40.

Chemours Stock Down 0.5%

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 company has a market capitalization of $3.97 billion, a P/E ratio of -10.68 and a beta of 1.41. The company has a 50-day moving average of $20.41 and a two-hundred day moving average of $16.11.

Chemours (NYSE:CC - Get Free Report) last released its quarterly earnings results on Thursday, February 19th. The specialty chemicals company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.04. Chemours had a positive return on equity of 41.75% and a negative net margin of 6.41%.The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the company posted $0.09 earnings per share. The firm's revenue was down 2.2% on a year-over-year basis. On average, research analysts predict that The Chemours Company will post 1.35 EPS for the current year.

Chemours Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were given a dividend of $0.0875 per share. The ex-dividend date was Friday, February 27th. This represents a $0.35 annualized dividend and a dividend yield of 1.3%. Chemours's payout ratio is currently -14.11%.

Institutional Investors Weigh In On Chemours

Several hedge funds have recently made changes to their positions in CC. Cooper Creek Partners Management LLC bought a new stake in shares of Chemours during the third quarter valued at approximately $63,103,000. Scopia Capital Management LP boosted its holdings in Chemours by 71.7% in the second quarter. Scopia Capital Management LP now owns 3,355,261 shares of the specialty chemicals company's stock worth $38,418,000 after acquiring an additional 1,401,539 shares in the last quarter. State Street Corp boosted its holdings in Chemours by 22.7% in the second quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company's stock worth $70,009,000 after acquiring an additional 1,131,682 shares in the last quarter. Wolf Hill Capital Management LP bought a new stake in Chemours in the third quarter worth $17,025,000. Finally, Sona Asset Management US LLC boosted its holdings in Chemours by 176.9% in the fourth quarter. Sona Asset Management US LLC now owns 1,651,275 shares of the specialty chemicals company's stock worth $19,469,000 after acquiring an additional 1,055,000 shares in the last quarter. 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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