Chemours (CC) Research Coverage Started at HSBC

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HSBC initiated coverage on shares of Chemours (NYSE:CC) in a report released on Tuesday morning, MarketBeat reports. The brokerage issued a buy rating and a $52.00 target price on the specialty chemicals company’s stock.

CC has been the subject of several other reports. Zacks Investment Research cut shares of Chemours from a hold rating to a sell rating in a research note on Friday, January 4th. Susquehanna Bancshares decreased their price objective on shares of Chemours from $65.00 to $44.00 and set a positive rating for the company in a research note on Monday, November 5th. Royal Bank of Canada restated an outperform rating on shares of Chemours in a research note on Thursday, September 13th. Citigroup decreased their price objective on shares of Chemours from $61.00 to $44.00 and set a buy rating for the company in a research note on Thursday, October 11th. Finally, BMO Capital Markets decreased their price objective on shares of Chemours from $68.00 to $58.00 and set an outperform rating for the company in a research note on Monday, November 5th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $50.78.

Shares of Chemours stock traded up $0.14 on Tuesday, reaching $33.73. The stock had a trading volume of 21,630 shares, compared to its average volume of 2,156,247. The company has a quick ratio of 1.39, a current ratio of 2.03 and a debt-to-equity ratio of 3.48. Chemours has a 1 year low of $25.17 and a 1 year high of $54.62. The company has a market cap of $5.63 billion, a P/E ratio of 8.81, a PEG ratio of 0.39 and a beta of 2.23.

Chemours (NYSE:CC) last released its earnings results on Thursday, November 1st. The specialty chemicals company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.07. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.71 billion. Chemours had a net margin of 16.02% and a return on equity of 106.98%. Chemours’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.12 EPS. As a group, equities research analysts forecast that Chemours will post 5.67 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 14th. Investors of record on Friday, November 16th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend was Thursday, November 15th. Chemours’s dividend payout ratio is currently 26.18%.

In other news, Director Richard H. Brown bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The stock was purchased at an average cost of $28.60 per share, for a total transaction of $286,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.75% of the company’s stock.

A number of large investors have recently bought and sold shares of CC. FMR LLC raised its position in Chemours by 10.5% during the third quarter. FMR LLC now owns 26,450,684 shares of the specialty chemicals company’s stock worth $1,043,214,000 after acquiring an additional 2,523,555 shares during the period. Iridian Asset Management LLC CT grew its holdings in shares of Chemours by 34.9% during the third quarter. Iridian Asset Management LLC CT now owns 9,420,415 shares of the specialty chemicals company’s stock worth $371,541,000 after buying an additional 2,439,293 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Chemours by 926.4% during the second quarter. Marshall Wace LLP now owns 834,938 shares of the specialty chemicals company’s stock worth $37,038,000 after buying an additional 753,593 shares in the last quarter. CI Investments Inc. purchased a new stake in shares of Chemours during the third quarter worth $21,759,000. Finally, Morgan Stanley grew its holdings in shares of Chemours by 78.1% during the second quarter. Morgan Stanley now owns 1,090,495 shares of the specialty chemicals company’s stock worth $48,374,000 after buying an additional 478,183 shares in the last quarter. Institutional investors own 78.44% of the company’s stock.

Chemours Company Profile

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.

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Analyst Recommendations for Chemours (NYSE:CC)

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