Chemours (NYSE:CC) Stock Price Up 7.8% - Here's Why

Key Points

• Chemours stock jumped 7.8% intraday to about $19.94 on Tuesday, but the rally occurred on light volume—around 839,986 shares, down ~77% from the average session.
• Analyst views are mixed: the MarketBeat consensus is a "Hold" with a $18.40 target, while individual firms range from downgrades to raises (UBS raised its target to $23, others trimmed or reaffirmed ratings).
• Fundamentals showed a beat on EPS ($0.05 vs. $0.01 estimate) with flat revenue, and the company recently paid a $0.0875 quarterly dividend (roughly a 1.7% yield).

The Chemours Company (NYSE:CC - Get Free Report)'s stock price traded up 7.8% during mid-day trading on Tuesday . The company traded as high as $19.95 and last traded at $19.9440. 839,986 shares traded hands during trading, a decline of 77% from the average session volume of 3,614,777 shares. The stock had previously closed at $18.50.

Analyst Upgrades and Downgrades

CC has been the topic of several analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $18.00 target price on shares of Chemours in a research report on Friday, January 16th. BMO Capital Markets reduced their price target on shares of Chemours from $20.00 to $19.00 and set an "outperform" rating for the company in a report on Monday, February 23rd. UBS Group upped their price target on shares of Chemours from $18.00 to $23.00 and gave the stock a "buy" rating in a research report on Monday, February 23rd. Morgan Stanley increased their price objective on shares of Chemours from $15.00 to $17.00 and gave the stock an "equal weight" rating in a report on Monday, February 23rd. Finally, The Goldman Sachs Group lifted their price objective 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. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Chemours currently has a consensus rating of "Hold" and a consensus target price of $18.40.

Chemours Trading Up 9.8%

The business's 50 day moving average is $17.53 and its two-hundred day moving average is $14.97. 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 firm has a market capitalization of $3.05 billion, a P/E ratio of -8.20 and a beta of 1.60.

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 for the quarter, topping the consensus estimate of $0.01 by $0.04. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. Chemours had a negative net margin of 6.41% and a positive return on equity of 41.75%. The company's quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.09 earnings per share. Analysts expect that The Chemours Company will post 2.03 EPS for the current year.

Chemours Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were issued a $0.0875 dividend. The ex-dividend date was Friday, February 27th. This represents a $0.35 annualized dividend and a dividend yield of 1.7%. Chemours's dividend payout ratio (DPR) is -14.11%.

Institutional Investors Weigh In On Chemours

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CC. Corient Private Wealth LLC lifted its holdings in shares of Chemours by 63.7% in the fourth quarter. Corient Private Wealth LLC now owns 31,680 shares of the specialty chemicals company's stock valued at $374,000 after buying an additional 12,328 shares during the period. Alpine Global Management LLC acquired a new position in Chemours during the fourth quarter worth about $176,000. Invesco Ltd. raised its position in Chemours by 14.0% in the fourth quarter. Invesco Ltd. now owns 948,125 shares of the specialty chemicals company's stock worth $11,178,000 after acquiring an additional 116,385 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Chemours in the fourth quarter worth about $191,000. Finally, Empowered Funds LLC lifted its holdings in Chemours by 7.8% in the 4th quarter. Empowered Funds LLC now owns 40,577 shares of the specialty chemicals company's stock valued at $478,000 after acquiring an additional 2,936 shares during the last quarter. Institutional investors 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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