Chemours Co (CC) Receives $32.08 Consensus Target Price from Brokerages
Shares of Chemours Co (NYSE:CC) have been given an average recommendation of “Buy” by the ten analysts that are currently covering the stock. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $32.08.
Several research firms have issued reports on CC. Citigroup Inc boosted their price objective on Chemours from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Monday. Jefferies Group LLC upgraded Chemours from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $35.00 to $48.00 in a report on Wednesday, March 29th. Susquehanna Bancshares Inc upgraded Chemours from a “neutral” rating to a “positive” rating and set a $40.00 price objective on the stock in a report on Friday, February 17th. Zacks Investment Research upgraded Chemours from a “hold” rating to a “strong-buy” rating and set a $38.00 price objective on the stock in a report on Thursday, February 16th. Finally, Goldman Sachs Group Inc upgraded Chemours from a “neutral” rating to a “buy” rating in a report on Monday, February 13th. They noted that the move was a valuation call.
Shares of Chemours (NYSE:CC) traded up 1.19% during mid-day trading on Tuesday, hitting $37.53. 2,404,607 shares of the company traded hands. Chemours has a 52-week low of $5.82 and a 52-week high of $39.02. The firm has a market cap of $6.87 billion, a price-to-earnings ratio of 962.31 and a beta of 3.50. The firm has a 50-day moving average price of $35.43 and a 200 day moving average price of $26.37.
Chemours (NYSE:CC) last posted its quarterly earnings data on Wednesday, February 15th. The specialty chemicals company reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by $0.21. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.24 billion. Chemours had a return on equity of 81.19% and a net margin of 2.78%. Equities research analysts anticipate that Chemours will post $2.69 EPS for the current fiscal year.
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A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Fund Advisors increased its position in Chemours by 7.7% in the third quarter. BlackRock Fund Advisors now owns 13,116,695 shares of the specialty chemicals company’s stock worth $209,867,000 after buying an additional 934,559 shares in the last quarter. FMR LLC increased its position in Chemours by 481.3% in the fourth quarter. FMR LLC now owns 10,926,459 shares of the specialty chemicals company’s stock worth $241,366,000 after buying an additional 9,046,728 shares in the last quarter. Norges Bank purchased a new position in Chemours during the fourth quarter worth approximately $196,709,000. BlackRock Institutional Trust Company N.A. increased its position in Chemours by 0.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 4,613,843 shares of the specialty chemicals company’s stock worth $73,821,000 after buying an additional 31,548 shares in the last quarter. Finally, State Street Corp increased its position in Chemours by 8.1% in the fourth quarter. State Street Corp now owns 4,287,135 shares of the specialty chemicals company’s stock worth $94,703,000 after buying an additional 321,567 shares in the last quarter. Hedge funds and other institutional investors own 74.71% of the company’s stock.
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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