Chemours Co (CC) Receives Consensus Rating of “Buy” from Brokerages
Shares of Chemours Co (NYSE:CC) have earned a consensus recommendation of “Buy” from the eleven ratings firms that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $58.00.
A number of research analysts have issued reports on the company. Barclays restated a “buy” rating and issued a $60.00 price objective on shares of Chemours in a research note on Wednesday, December 6th. Zacks Investment Research upgraded Chemours from a “hold” rating to a “strong-buy” rating and set a $61.00 price objective for the company in a research note on Tuesday, October 3rd. Jefferies Group upped their price objective on Chemours to $66.00 and gave the company a “buy” rating in a research note on Monday, December 4th. UBS Group upped their price objective on Chemours from $50.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, November 3rd. Finally, Goldman Sachs Group downgraded Chemours from a “buy” rating to a “neutral” rating and set a $55.00 price target for the company. in a research note on Wednesday, December 6th.
In other Chemours news, insider Christian W. Siemer sold 15,088 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $47.37, for a total value of $714,718.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider E Bryan Snell sold 11,878 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $53.25, for a total value of $632,503.50. Following the completion of the transaction, the insider now owns 63,063 shares of the company’s stock, valued at approximately $3,358,104.75. The disclosure for this sale can be found here. 1.14% of the stock is currently owned by corporate insiders.
Shares of Chemours (NYSE:CC) traded up $2.42 during trading hours on Friday, reaching $54.02. The company’s stock had a trading volume of 1,626,829 shares, compared to its average volume of 1,920,000. The company has a market cap of $9,980.00 and a P/E ratio of 37.26. The company has a debt-to-equity ratio of 5.07, a current ratio of 2.19 and a quick ratio of 1.63. Chemours has a 52-week low of $24.17 and a 52-week high of $58.08.
Chemours (NYSE:CC) last announced its quarterly earnings data on Thursday, November 2nd. The specialty chemicals company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.11. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.59 billion. Chemours had a return on equity of 116.80% and a net margin of 4.86%. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.61 EPS. sell-side analysts forecast that Chemours will post 3.65 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, February 15th will be paid a dividend of $0.17 per share. This is an increase from Chemours’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.68 annualized dividend and a dividend yield of 1.26%. Chemours’s dividend payout ratio is presently 8.28%.
Chemours declared that its board has authorized a stock repurchase program on Friday, December 1st that permits the company to buyback $500.00 million in shares. This buyback authorization permits the specialty chemicals company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
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The Chemours Company is a provider of performance chemicals. The Company operates through three segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Titanium Technologies segment is a producer of titanium dioxide (TiO2). The Fluoroproducts segment is a provider of fluoroproducts, including refrigerants and industrial fluoropolymer resins.
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