Chemours (NYSE:CC) Shares Up 8.8% - Here's Why

Key Points

• Shares rose 8.8% on Friday to about $26.33 after several analysts raised price targets (Truist to $27, RBC $26), but the consensus rating remains a Hold with an average price target of $20.40.
• Chemours slightly beat EPS expectations ($0.05 vs. $0.01) with revenue of ~$1.33B, yet the company shows a negative net margin and negative P/E while paying a quarterly dividend of $0.0875 (annual yield ~1.3%).
• Institutional investors own roughly 76.26% of the stock, while the balance sheet shows high leverage (debt-to-equity ~16.33) and modest liquidity (quick ratio ~0.85).

The Chemours Company (NYSE:CC - Get Free Report) shares shot up 8.8% during trading on Friday . The stock traded as high as $26.35 and last traded at $26.3290. 2,467,400 shares changed hands during trading, a decline of 26% from the average session volume of 3,322,361 shares. The stock had previously closed at $24.19.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CC. Truist Financial boosted their price target on Chemours from $21.00 to $27.00 and gave the stock a "buy" rating in a research report on Thursday, April 9th. Weiss Ratings reiterated a "sell (d)" rating on shares of Chemours in a research report on Monday. Jefferies Financial Group reiterated a "hold" rating and set a $17.00 price target on shares of Chemours in a research report on Monday, February 23rd. Mizuho boosted their price target on Chemours from $17.00 to $21.00 and gave the stock an "outperform" rating in a research report on Thursday, March 5th. Finally, Royal Bank Of Canada set a $26.00 price target on Chemours and gave the stock an "outperform" rating in a research report on Friday, April 10th. 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, Chemours presently has a consensus rating of "Hold" and an average price target of $20.40.

Chemours Trading Up 8.7%

The company has a current ratio of 1.78, a quick ratio of 0.85 and a debt-to-equity ratio of 16.33. The company has a fifty day simple moving average of $20.16 and a 200-day simple moving average of $15.93. The company has a market capitalization of $3.95 billion, a PE ratio of -10.63 and a beta of 1.41.

Chemours (NYSE:CC - Get Free Report) last issued its earnings results on Thursday, February 19th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. The company had revenue of $1.33 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the prior year, the business earned $0.09 EPS. Analysts predict that The Chemours Company will post 1.35 EPS for the current year.

Chemours Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were issued 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 dividend yield of 1.3%. Chemours's dividend payout ratio is currently -14.11%.

Hedge Funds Weigh In On Chemours

A number of hedge funds have recently modified their holdings of the business. Oregon Public Employees Retirement Fund grew its holdings in shares of Chemours by 1.8% during the 4th 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 during the period. Amalgamated Bank grew its holdings in shares of Chemours by 1.7% during the 3rd quarter. Amalgamated Bank now owns 43,528 shares of the specialty chemicals company's stock worth $689,000 after purchasing an additional 740 shares during the period. PFG Investments LLC grew its holdings in shares of Chemours by 7.6% during the 4th 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 during the period. State of Alaska Department of Revenue grew its holdings in shares of Chemours by 1.2% during the 4th 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 during the period. Finally, Man Group plc grew its holdings in shares of Chemours by 0.4% during the 2nd 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 during the period. 76.26% of the stock is currently owned by hedge funds and other 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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