Chemours Co (CC) Receives Consensus Rating of “Buy” from Brokerages
Chemours Co (NYSE:CC) has earned a consensus recommendation of “Buy” from the twelve brokerages that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $57.94.
Several equities analysts recently issued reports on the company. Morgan Stanley assumed coverage on Chemours in a research report on Tuesday, January 30th. They issued an “equal weight” rating and a $57.50 price objective on the stock. Zacks Investment Research cut Chemours from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. Barclays reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Chemours in a research report on Wednesday, December 6th. Goldman Sachs Group cut Chemours from a “buy” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a research report on Wednesday, December 6th. Finally, Jefferies Group upped their price objective on Chemours to $66.00 and gave the company a “buy” rating in a research report on Monday, December 4th.
In other news, insider Christian W. Siemer sold 15,088 shares of the stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $47.37, for a total transaction of $714,718.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.14% of the stock is owned by corporate insiders.
Chemours (NYSE:CC) traded up $0.75 during mid-day trading on Wednesday, reaching $48.39. The company had a trading volume of 600,130 shares, compared to its average volume of 1,639,724. The company has a market cap of $8,839.69, a PE ratio of 33.37, a PEG ratio of 0.61 and a beta of 3.03. Chemours has a fifty-two week low of $31.48 and a fifty-two week high of $58.08. The company has a debt-to-equity ratio of 5.07, a current ratio of 2.19 and a quick ratio of 1.63.
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 issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.41%. This is a boost from Chemours’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Wednesday, February 14th. Chemours’s dividend payout ratio is presently 8.28%.
Chemours declared that its board has authorized a stock repurchase plan on Friday, December 1st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the specialty chemicals company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
COPYRIGHT VIOLATION NOTICE: “Chemours Co (CC) Receives Consensus Rating of “Buy” from Brokerages” was reported by TheOlympiaReport and is owned by of TheOlympiaReport. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international copyright laws. The correct version of this piece can be accessed at https://theolympiareport.com/2018/02/14/chemours-co-cc-receives-consensus-rating-of-buy-from-brokerages.html.
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.
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.