Royal Bank of Canada restated their outperform rating on shares of Chemours (NYSE:CC) in a report issued on Thursday morning, The Fly reports.
Several other analysts have also recently commented on the company. ValuEngine cut Chemours from a sell rating to a strong sell rating in a research report on Wednesday, August 15th. Barclays restated a buy rating and issued a $62.00 target price on shares of Chemours in a research report on Tuesday, August 7th. BMO Capital Markets lowered their target price on Chemours from $70.00 to $68.00 and set an outperform rating on the stock in a research report on Monday, August 6th. SunTrust Banks initiated coverage on Chemours in a research report on Tuesday, July 31st. They issued a hold rating and a $51.00 target price on the stock. Finally, Morgan Stanley lowered their target price on Chemours from $57.50 to $48.00 and set a hold rating on the stock in a research report on Tuesday, July 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $59.10.
Shares of Chemours stock traded up $0.34 on Thursday, reaching $40.17. 9,935 shares of the company were exchanged, compared to its average volume of 1,622,210. The company has a current ratio of 2.09, a quick ratio of 1.47 and a debt-to-equity ratio of 3.86. The stock has a market capitalization of $7.01 billion, a price-to-earnings ratio of 10.56, a PEG ratio of 0.44 and a beta of 2.73. Chemours has a 1-year low of $38.49 and a 1-year high of $58.08.
Chemours (NYSE:CC) last announced its quarterly earnings results on Thursday, August 2nd. The specialty chemicals company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.18. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Chemours had a return on equity of 107.22% and a net margin of 15.11%. The business’s quarterly revenue was up 14.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.87 EPS. sell-side analysts predict that Chemours will post 5.77 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Friday, August 17th will be paid a dividend of $0.25 per share. This is a positive change from Chemours’s previous quarterly dividend of $0.17. This represents a $1.00 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Thursday, August 16th. Chemours’s dividend payout ratio (DPR) is presently 26.18%.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC boosted its stake in shares of Chemours by 5.8% during the 2nd quarter. FMR LLC now owns 23,927,129 shares of the specialty chemicals company’s stock worth $1,061,408,000 after acquiring an additional 1,321,767 shares in the last quarter. Iridian Asset Management LLC CT boosted its stake in shares of Chemours by 53.5% during the 2nd quarter. Iridian Asset Management LLC CT now owns 6,981,122 shares of the specialty chemicals company’s stock worth $309,683,000 after acquiring an additional 2,433,033 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in shares of Chemours by 10.2% during the 1st quarter. Allianz Asset Management GmbH now owns 2,469,095 shares of the specialty chemicals company’s stock worth $120,269,000 after acquiring an additional 228,558 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Chemours by 153.7% during the 1st quarter. Point72 Asset Management L.P. now owns 1,633,884 shares of the specialty chemicals company’s stock worth $79,586,000 after acquiring an additional 989,926 shares in the last quarter. Finally, LSV Asset Management boosted its stake in shares of Chemours by 588.7% during the 2nd quarter. LSV Asset Management now owns 1,607,336 shares of the specialty chemicals company’s stock worth $71,301,000 after acquiring an additional 1,373,936 shares in the last quarter. 76.73% of the stock is owned by hedge funds and other institutional investors.
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, Fluoroproducts, and Chemical Solutions. The Titanium Technologies segment manufactures and sells titanium dioxide under the Ti-Pure and BaiMax brands for various applications in architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride window profiles, laminate papers used for furniture and building materials, and coated papers and paperboards used for packaging.
Featured Story: What is the NASDAQ?
Receive News & Ratings for Chemours Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chemours and related companies with MarketBeat.com's FREE daily email newsletter.