The Chemours Company (CC) - What Are Researchers Thinking About This Stock?

Key Points

• Analysts maintain a “Hold” consensus on Chemours, with six hold, five buy and one sell ratings. The average 12-month price target is $19.40, although several firms recently lowered their targets.
• Chemours shares opened at $13.61, well below their 200-day moving average of $19.13. The company’s latest quarterly results missed expectations, with EPS of $0.42 versus a $0.49 estimate and revenue down 1.5% year over year.
• The company pays a quarterly dividend of $0.0875, equivalent to a 2.6% annual yield, while insiders—including the CEO and CFO—recently purchased shares. Institutional investors own approximately 76.26% of the stock.

The Chemours Company (NYSE:CC - Get Free Report) has been assigned a consensus rating of "Hold" from the twelve analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $19.40.

Several research firms have weighed in on CC. JPMorgan Chase & Co. dropped their target price on shares of Chemours from $22.00 to $15.00 and set a "neutral" rating on the stock in a research report on Thursday, August 13th. Mizuho decreased their price target on shares of Chemours from $20.00 to $18.00 and set an "outperform" rating for the company in a report on Wednesday, September 30th. Truist Financial lowered their price objective on shares of Chemours from $30.00 to $24.00 and set a "buy" rating for the company in a research note on Thursday, August 6th. Weiss Ratings lowered shares of Chemours from a "sell (d)" rating to a "sell (d-)" rating in a report on Thursday, August 6th. Finally, UBS Group cut their target price on Chemours from $18.00 to $16.00 and set a "neutral" rating on the stock in a research report on Monday.

Chemours Trading Down 1.6%

Chemours stock opened at $13.61 on Friday. The company has a debt-to-equity ratio of 18.98, a quick ratio of 0.88 and a current ratio of 1.66. The stock has a market cap of $2.05 billion, a PE ratio of -7.13 and a beta of 1.41. The stock has a 50-day moving average of $15.00 and a two-hundred day moving average of $19.13. Chemours has a one year low of $10.44 and a one year high of $28.67.

Chemours (NYSE:CC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.42 earnings per share for the quarter, missing analysts' consensus estimates of $0.49 by ($0.07). Chemours had a positive return on equity of 60.64% and a negative net margin of 5.00%. The business had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.65 billion. During the same quarter in the previous year, the firm posted ($2.54) EPS. Chemours's revenue was down 1.5% on a year-over-year basis. On average, research analysts anticipate that Chemours will post 0.87 EPS for the current fiscal year.

Chemours Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th were issued a $0.0875 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 2.6%. Chemours's dividend payout ratio is currently -18.32%.

Insider Transactions at Chemours

In other Chemours news, CFO Shane Hostetter purchased 3,350 shares of Chemours stock in a transaction on Thursday, August 6th. The stock was bought at an average cost of $14.94 per share, with a total value of $50,049.00. Following the transaction, the chief financial officer owned 102,698 shares of the company's stock, valued at $1,534,308.12. This represents a 3.37% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Denise Dignam acquired 3,378 shares of the company's stock in a transaction dated Tuesday, August 11th. The stock was acquired at an average cost of $14.95 per share, for a total transaction of $50,501.10. Following the completion of the acquisition, the chief executive officer directly owned 339,916 shares in the company, valued at approximately $5,081,744.20. The trade was a 1.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought a total of 8,663 shares of company stock worth $130,601 over the last three months. 0.85% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chemours

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in shares of Chemours in the second quarter worth about $477,769,000. Wolf Hill Capital Management LP purchased a new position in Chemours during the second quarter valued at approximately $59,698,056. Bank of New York Mellon Corp acquired a new position in Chemours in the second quarter valued at approximately $33,353,000. Legal & General Group Plc acquired a new position in Chemours in the second quarter valued at approximately $28,400,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Chemours in the second quarter valued at approximately $18,119,000. 76.26% of the stock is owned by hedge funds and other institutional investors.

About Chemours

The Chemours Company NYSE: CC is a global chemical company that develops, manufactures and distributes specialty chemical products used in a range of industrial and consumer applications. Its portfolio serves markets including coatings, plastics, automotive, refrigeration and air conditioning, electronics, telecommunications, energy, healthcare and general manufacturing.

Chemours operates through three primary business segments: Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials.

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