Chemours (NYSE:CC) Trading Down 7.4% - What's Next?

Key Points

• Chemours shares fell 7.4% to about $14.59, with nearly 2.93 million shares changing hands.
• Analysts lowered several price targets following the company’s latest results, though the stock retains a “Moderate Buy” consensus rating and an average target of $21.00.
• Chemours missed quarterly earnings and revenue expectations, reporting $0.42 in EPS versus $0.49 expected and $1.59 billion in revenue versus $1.65 billion forecast; revenue declined 1.5% year over year.

The Chemours Company (NYSE:CC - Get Free Report) shares were down 7.4% during trading on Monday . The stock traded as low as $14.64 and last traded at $14.5850. Approximately 2,927,428 shares traded hands during trading, a decline of 5% from the average session volume of 3,086,154 shares. The stock had previously closed at $15.75.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. UBS Group restated a "neutral" rating and set a $18.00 price objective (down from $29.00) on shares of Chemours in a research report on Monday. Weiss Ratings downgraded shares of Chemours from a "sell (d)" rating to a "sell (d-)" rating in a research report on Thursday. Royal Bank Of Canada decreased their target price on shares of Chemours from $26.00 to $22.00 and set an "outperform" rating for the company in a research report on Thursday. Truist Financial dropped their price target on shares of Chemours from $30.00 to $24.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Chemours from $17.00 to $22.00 and gave the company a "neutral" rating in a research note on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $21.00.

Chemours Stock Performance

The stock has a market capitalization of $2.19 billion, a P/E ratio of -7.64 and a beta of 1.43. The company has a current ratio of 1.66, a quick ratio of 0.88 and a debt-to-equity ratio of 18.98. The company has a 50-day moving average price of $19.23 and a two-hundred day moving average price of $20.06.

Chemours (NYSE:CC - Get Free Report) last announced its earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.07). Chemours had a negative net margin of 5.00% and a positive return on equity of 60.64%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the company earned ($2.54) EPS. The firm's revenue for the quarter was down 1.5% on a year-over-year basis. On average, equities analysts forecast that The Chemours Company will post 0.91 earnings per share for the current year.

Chemours Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.0875 per share. This represents a $0.35 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, August 14th. Chemours's dividend payout ratio is presently -18.32%.

Institutional Trading of Chemours

Several hedge funds have recently modified their holdings of CC. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Chemours during the first quarter worth about $3,745,000. Versor Investments LP acquired a new stake in shares of Chemours in the 4th quarter worth about $314,000. Penn Capital Management Company LLC lifted its position in Chemours by 113.0% in the 4th quarter. Penn Capital Management Company LLC now owns 1,386,819 shares of the specialty chemicals company's stock valued at $16,366,000 after acquiring an additional 735,668 shares in the last quarter. Vanguard Group Inc. lifted its position in Chemours by 2.8% in the 4th 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 in the last quarter. Finally, Legal & General Group Plc boosted its stake in Chemours by 19.9% during the 4th quarter. Legal & General Group Plc now owns 2,139,617 shares of the specialty chemicals company's stock valued at $25,226,000 after purchasing an additional 355,074 shares during the last quarter. Institutional investors 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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