Chemours (NYSE:CC) Sets New 12-Month High - Here's What Happened

Key Points

• Shares of The Chemours Company hit a new 52-week high, trading as high as $24.40 (last at $23.799) on volume of 242,481 shares, with the 50-day and 200-day moving averages at $20.03 and $15.81 respectively.
• Analyst views are mixed—five Buys, five Holds and two Sells—leaving an average rating of "Hold" and a consensus price target of $20.40, though firms like RBC and UBS have raised targets to $26 and $29.
• Chemours beat EPS estimates ($0.05 vs. $0.01) on flat revenue of $1.33B, shows a high return on equity (41.75%) but a negative net margin (-6.41%) and negative P/E (-9.63), and pays a quarterly dividend of $0.0875 (annualized yield ~1.5%).

Shares of The Chemours Company (NYSE:CC - Get Free Report) hit a new 52-week high during trading on Wednesday . The stock traded as high as $24.40 and last traded at $23.7990, with a volume of 242481 shares. The stock had previously closed at $23.72.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CC. Royal Bank Of Canada set a $26.00 price objective on shares of Chemours and gave the company an "outperform" rating in a research note on Friday, April 10th. BMO Capital Markets dropped their price target on shares of Chemours from $20.00 to $19.00 and set an "outperform" rating for the company in a research report on Monday, February 23rd. Weiss Ratings restated a "sell (d)" rating on shares of Chemours in a research note on Monday. The Goldman Sachs Group boosted their price target on shares of Chemours from $14.00 to $18.00 and gave the company a "neutral" rating in a research report on Wednesday, February 25th. Finally, UBS Group boosted their target price on Chemours from $23.00 to $29.00 and gave the stock a "buy" rating in a report on Thursday, April 9th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $20.40.

Chemours Price Performance

The company has a debt-to-equity ratio of 16.33, a current ratio of 1.78 and a quick ratio of 0.85. The firm has a market capitalization of $3.59 billion, a P/E ratio of -9.63 and a beta of 1.41. The company's 50 day moving average price is $20.03 and its 200 day moving average price is $15.81.

Chemours (NYSE:CC - Get Free Report) last posted its quarterly earnings data on Thursday, February 19th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate 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 quarter in the prior year, the business earned $0.09 EPS. As a group, sell-side analysts anticipate that The Chemours Company will post 1.35 EPS for the current fiscal year.

Chemours Announces Dividend

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

Hedge Funds Weigh In On Chemours

A number of hedge funds and other institutional investors have recently bought and sold shares of CC. Y Intercept Hong Kong Ltd bought a new position in Chemours during the third quarter worth about $2,124,000. WINTON GROUP Ltd grew its holdings in Chemours by 103.5% during the third quarter. WINTON GROUP Ltd now owns 114,100 shares of the specialty chemicals company's stock valued at $1,807,000 after purchasing an additional 58,039 shares during the period. Hudson Bay Capital Management LP acquired a new stake in Chemours in the third quarter worth $1,925,000. Wolf Hill Capital Management LP bought a new position in shares of Chemours during the third quarter worth $17,025,000. Finally, SG Americas Securities LLC grew its holdings in shares of Chemours by 478.4% in the 4th quarter. SG Americas Securities LLC now owns 236,236 shares of the specialty chemicals company's stock valued at $2,785,000 after buying an additional 195,393 shares during the period. 76.26% of the stock is 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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