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

Shares of The Chemours Company (NYSE:CC - Get Free Report) have been assigned a consensus rating of "Hold" from the nine brokerages that are currently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $23.11.

Several brokerages have recently commented on CC. Truist Financial assumed coverage on Chemours in a research note on Tuesday, January 28th. They set a "buy" rating and a $27.00 target price for the company. Royal Bank of Canada reaffirmed an "outperform" rating and set a $25.00 price objective on shares of Chemours in a research report on Thursday, December 12th. Mizuho dropped their price objective on shares of Chemours from $22.00 to $21.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. BMO Capital Markets reduced their target price on shares of Chemours from $34.00 to $27.00 and set an "outperform" rating for the company in a report on Wednesday, February 19th. Finally, Morgan Stanley lowered their price target on shares of Chemours from $25.00 to $22.00 and set an "equal weight" rating on the stock in a report on Monday, January 13th.

Chemours Stock Up 1.3 %

Shares of NYSE CC traded up $0.19 during trading hours on Friday, hitting $14.59. The company had a trading volume of 2,666,156 shares, compared to its average volume of 1,572,072. The stock has a market capitalization of $2.18 billion, a P/E ratio of 25.60 and a beta of 2.00. Chemours has a 1-year low of $13.09 and a 1-year high of $29.21. The firm's 50 day moving average is $17.21 and its 200-day moving average is $18.48. The company has a quick ratio of 0.92, a current ratio of 1.68 and a debt-to-equity ratio of 6.70.

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Chemours (NYSE:CC - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $1.37 billion. On average, analysts expect that Chemours will post 2.03 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.25 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.00 annualized dividend and a yield of 6.85%. Chemours's dividend payout ratio is presently 175.44%.

Hedge Funds Weigh In On Chemours

Several hedge funds have recently bought and sold shares of CC. Strategic Financial Concepts LLC bought a new stake in shares of Chemours during the 4th quarter worth $357,000. Vision One Management Partners LP acquired a new position in Chemours during the third quarter worth about $28,252,000. Two Sigma Advisers LP lifted its holdings in shares of Chemours by 9.4% in the third quarter. Two Sigma Advisers LP now owns 503,100 shares of the specialty chemicals company's stock worth $10,223,000 after acquiring an additional 43,200 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of Chemours in the 4th quarter valued at approximately $266,000. Finally, Twelve Points Wealth Management LLC grew its holdings in shares of Chemours by 42.8% during the 4th quarter. Twelve Points Wealth Management LLC now owns 78,325 shares of the specialty chemicals company's stock valued at $1,324,000 after purchasing an additional 23,490 shares during the last quarter. 76.26% of the stock is owned by institutional investors.

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.