Chemours (NYSE:CC) Sets New 52-Week High - Time to Buy?

Key Points

• Chemours stock hit a new 52-week high intraday at $22.80 and last traded near $21.01, while the analyst consensus is a "Hold" with an average price target of $18.40 (5 Buy / 5 Hold / 2 Sell).
• The company beat quarterly EPS estimates ($0.05 vs. $0.01) on $1.33B revenue, shows a strong ROE (41.75%) but a negative net margin (-6.41%) and negative P/E, pays a small dividend (annualized yield ~1.7%), and is ~76% institutionally owned.

The Chemours Company (NYSE:CC - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $22.80 and last traded at $21.0140, with a volume of 9970 shares trading hands. The stock had previously closed at $22.34.

Wall Street Analyst Weigh In

Several analysts have issued reports on CC shares. Jefferies Financial Group restated a "hold" rating and issued a $17.00 price objective on shares of Chemours in a research note on Monday, February 23rd. Weiss Ratings reiterated a "sell (d)" rating on shares of Chemours in a research note on Wednesday, January 21st. Royal Bank Of Canada reiterated an "outperform" rating and set a $18.00 target price on shares of Chemours in a research note on Friday, January 16th. UBS Group increased their target price on Chemours from $18.00 to $23.00 and gave the stock a "buy" rating in a research note on Monday, February 23rd. Finally, JPMorgan Chase & Co. increased their target price on Chemours from $13.00 to $17.00 and gave the stock a "neutral" rating in a research note on Monday, February 23rd. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $18.40.

Chemours Stock Performance

The company has a market cap of $3.11 billion, a P/E ratio of -8.37 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 has a 50 day moving average price of $18.82 and a two-hundred day moving average price of $15.33.

Chemours (NYSE:CC - Get Free Report) last announced its earnings results on Thursday, February 19th. The specialty chemicals company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.04. The company had revenue of $1.33 billion for 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 firm's quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.09 earnings per share. On average, research analysts predict that The Chemours Company will post 2.03 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The business 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 of this dividend was Friday, February 27th. This represents a $0.35 dividend on an annualized basis and a yield of 1.7%. Chemours's dividend payout ratio is currently -14.11%.

Institutional Investors Weigh In On Chemours

Large investors have recently added to or reduced their stakes in the stock. Atlas Capital Advisors Inc. acquired a new stake in Chemours during the fourth quarter worth approximately $26,000. Aster Capital Management DIFC Ltd acquired a new stake in Chemours during the fourth quarter worth approximately $28,000. Covestor Ltd grew its position in Chemours by 204.7% during the fourth quarter. Covestor Ltd now owns 2,602 shares of the specialty chemicals company's stock worth $31,000 after buying an additional 1,748 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in Chemours during the fourth quarter worth approximately $31,000. Finally, Rothschild Investment LLC grew its position in Chemours by 87.0% during the fourth quarter. Rothschild Investment LLC now owns 2,698 shares of the specialty chemicals company's stock worth $32,000 after buying an additional 1,255 shares in the last quarter. Institutional investors and hedge funds own 76.26% of the company's stock.

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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