The Chemours Company (NYSE:CC) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• Analysts have a consensus “Hold” rating on Chemours, with six holds, five buys, and one sell among 12 firms. The average 12-month price target is $20.10, although several analysts recently cut their targets.
• Chemours reported quarterly EPS of $0.42, below the $0.49 consensus estimate, while revenue of $1.59 billion also missed expectations and declined 1.5% year over year.
• The stock opened at $14.60, well below its 12-month high of $28.67. The company declared a quarterly dividend of $0.0875, equivalent to a 2.4% annualized yield, and insiders recently purchased shares.

Shares of The Chemours Company (NYSE:CC - Get Free Report) have been given a consensus recommendation of "Hold" by the twelve ratings firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $20.10.

Several equities research analysts recently weighed in on CC shares. Weiss Ratings lowered shares of Chemours from a "sell (d)" rating to a "sell (d-)" rating in a research note on Thursday, August 6th. Morgan Stanley set a $18.00 price target on shares of Chemours in a report on Monday, August 10th. JPMorgan Chase & Co. decreased their price objective on Chemours from $22.00 to $15.00 and set a "neutral" rating for the company in a report on Thursday, August 13th. Truist Financial lowered their target price on shares of Chemours from $30.00 to $24.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. Finally, BMO Capital Markets lowered their price target on Chemours from $26.00 to $18.00 and set an "outperform" rating on the stock in a research report on Thursday, August 13th.

Chemours Stock Performance

CC stock opened at $14.60 on Tuesday. The stock's 50 day simple moving average is $16.32 and its 200 day simple moving average is $19.62. Chemours has a 12-month low of $10.44 and a 12-month high of $28.67. The firm has a market cap of $2.20 billion, a P/E ratio of -7.64 and a beta of 1.42. The company has a current ratio of 1.66, a quick ratio of 0.88 and a debt-to-equity ratio of 18.98.

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

Chemours Dividend Announcement

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 given a $0.0875 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.35 annualized dividend and a yield of 2.4%. Chemours's payout ratio is -18.32%.

Insider Buying and Selling at Chemours

In other Chemours news, CEO Denise Dignam bought 3,378 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The shares were acquired at an average cost of $14.95 per share, for a total transaction of $50,501.10. Following the acquisition, the chief executive officer directly owned 339,916 shares of the company's stock, valued at $5,081,744.20. This trade represents a 1.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider Calderon Gerardo Familiar bought 1,935 shares of the business's stock in a transaction that occurred on Wednesday, August 12th. The shares were acquired at an average cost of $15.53 per share, with a total value of $30,050.55. Following the completion of the purchase, the insider owned 58,547 shares of the company's stock, valued at approximately $909,234.91. The trade was a 3.42% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders acquired 8,663 shares of company stock valued at $130,601. 0.85% of the stock is owned by insiders.

Institutional Trading of Chemours

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Chemours in the 2nd quarter valued at $477,769,000. California State Teachers Retirement System raised its holdings in Chemours by 1,950.7% during the 2nd quarter. California State Teachers Retirement System now owns 3,549,837 shares of the specialty chemicals company's stock worth $72,843,000 after buying an additional 3,376,734 shares during the period. Wolf Hill Capital Management LP purchased a new stake in Chemours during the second quarter valued at about $59,698,056. Bank of New York Mellon Corp purchased a new stake in Chemours during the second quarter valued at about $33,353,000. Finally, Bank of America Corp DE boosted its holdings in shares of Chemours by 79.1% in the first quarter. Bank of America Corp DE now owns 1,317,003 shares of the specialty chemicals company's stock worth $29,014,000 after buying an additional 581,621 shares during the period. 76.26% of the stock is currently owned by institutional investors.

About Chemours

The Chemours Company NYSE: CC is a global chemistry company headquartered in Wilmington, Delaware. Formed in 2015 through a spin-off from DuPont, Chemours develops and manufactures chemical products used in industries including transportation, electronics, energy, construction, and consumer goods.

The company operates through businesses focused on thermal and specialized solutions, titanium technologies, and advanced performance materials. Its products include refrigerants and heat-transfer fluids, titanium dioxide pigments used to provide whiteness and opacity in coatings, plastics, and paper, as well as fluoropolymers, specialty fluids, and other performance materials used in demanding industrial applications.

Chemours serves customers in North America, Latin America, Europe, the Asia-Pacific region, and other international markets through manufacturing facilities, research and development operations, and commercial activities around the world.

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