Chemours (NYSE:CC) Shares Gap Down - What's Next?

Key Points

• Chemours shares gapped down ~15%, opening at $25.19 after a $27.94 close and trading around $23.76 on intraday volume of about 1.28 million shares.
• Analyst sentiment is mixed with an average rating of Hold and an average price target of $21.60 (5 Buys, 6 Holds, 1 Sell), with individual targets ranging roughly $15–$29.
• The company beat quarterly EPS estimates ($0.05 vs. -$0.05) but slightly missed revenue expectations ($1.38B vs. $1.40B) and announced a $0.0875 quarterly dividend (annualized yield ~1.5%); institutional investors own about 76% of the stock.

The Chemours Company (NYSE:CC - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $27.94, but opened at $25.19. Chemours shares last traded at $23.7550, with a volume of 1,284,301 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CC. Zacks Research upgraded shares of Chemours from a "strong sell" rating to a "hold" rating in a research report on Friday, April 24th. Royal Bank Of Canada set a $26.00 target price on shares of Chemours and gave the stock an "outperform" rating in a research report on Friday, April 10th. Weiss Ratings restated a "sell (d)" rating on shares of Chemours in a research report on Monday, April 20th. Morgan Stanley raised their target price on shares of Chemours from $15.00 to $17.00 and gave the stock an "equal weight" rating in a research report on Monday, February 23rd. Finally, UBS Group raised their target price on shares of Chemours from $23.00 to $29.00 and gave the stock a "buy" rating in a research report on Thursday, April 9th. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $21.60.

Chemours Trading Down 15.0%

The business's 50-day moving average is $20.96 and its two-hundred day moving average is $16.48. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.85 and a current ratio of 1.78. The stock has a market capitalization of $3.57 billion, a PE ratio of -9.58 and a beta of 1.47.

Chemours (NYSE:CC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The specialty chemicals company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.10. Chemours had a negative net margin of 6.41% and a positive return on equity of 41.75%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the firm posted $0.13 EPS. Chemours's quarterly revenue was up 1.0% on a year-over-year basis. As a group, equities research analysts anticipate that The Chemours Company will post 1.35 earnings per share for the current year.

Chemours Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Sunday, May 17th will be issued a $0.0875 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $0.35 dividend on an annualized basis and a yield of 1.5%. Chemours's dividend payout ratio (DPR) is -14.11%.

Institutional Investors Weigh In On Chemours

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Chemours by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 17,920,868 shares of the specialty chemicals company's stock valued at $211,287,000 after acquiring an additional 490,778 shares during the period. State Street Corp lifted 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 valued at $70,009,000 after acquiring an additional 1,131,682 shares during the period. Ameriprise Financial Inc. lifted its holdings in Chemours by 13.8% in the third quarter. Ameriprise Financial Inc. now owns 4,796,153 shares of the specialty chemicals company's stock valued at $75,971,000 after acquiring an additional 580,089 shares during the period. UBS Group AG lifted its holdings in Chemours by 0.3% in the third quarter. UBS Group AG now owns 4,754,492 shares of the specialty chemicals company's stock valued at $75,311,000 after acquiring an additional 14,865 shares during the period. Finally, Cooper Creek Partners Management LLC acquired a new stake in Chemours in the third quarter valued at $63,103,000. Institutional investors and hedge funds own 76.26% of the company's stock.

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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