Analysts Set The Chemours Company (NYSE:CC) Price Target at $23.11

The Chemours Company (NYSE:CC) has received a consensus rating of “Hold” from the nine research firms that are covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $23.11.

Several analysts have issued reports on the company. Truist Financial began coverage on Chemours in a report on Tuesday, January 28th. They set a “buy” rating and a $27.00 price objective on the stock. The Goldman Sachs Group cut their price target on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of Chemours in a research note on Thursday, December 12th. BMO Capital Markets cut their target price on shares of Chemours from $34.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Finally, Morgan Stanley decreased their target price on Chemours from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CC. Norges Bank bought a new stake in Chemours during the fourth quarter worth approximately $30,702,000. Appian Way Asset Management LP bought a new stake in shares of Chemours during the 3rd quarter worth $34,151,000. Vision One Management Partners LP acquired a new position in Chemours in the 3rd quarter valued at $28,252,000. Bank of Montreal Can raised its holdings in Chemours by 1,496.4% in the 4th quarter. Bank of Montreal Can now owns 953,240 shares of the specialty chemicals company’s stock worth $16,110,000 after acquiring an additional 893,530 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in Chemours by 23.8% during the 4th quarter. Ameriprise Financial Inc. now owns 4,373,172 shares of the specialty chemicals company’s stock worth $73,907,000 after acquiring an additional 839,849 shares during the last quarter. Institutional investors own 76.26% of the company’s stock.

Chemours Trading Up 5.3 %

Shares of Chemours stock opened at $14.43 on Friday. The business has a fifty day simple moving average of $17.21 and a 200-day simple moving average of $18.48. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 25.31 and a beta of 2.00. Chemours has a fifty-two week low of $13.09 and a fifty-two week high of $29.21. The company has a quick ratio of 0.92, a current ratio of 1.68 and a debt-to-equity ratio of 6.70.

Chemours (NYSE:CC) last posted its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. Chemours had a net margin of 1.51% and a return on equity of 26.54%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.37 billion. On average, equities analysts forecast that Chemours will post 2.03 EPS for the current fiscal year.

Chemours Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.00 annualized dividend and a dividend yield of 6.93%. Chemours’s payout ratio is 175.44%.

About Chemours

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through three segments: Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.