Chemours (CC) Now Covered by Morgan Stanley

Morgan Stanley initiated coverage on shares of Chemours (NYSE:CC) in a research report sent to investors on Tuesday, Marketbeat reports. The firm issued an equal weight rating and a $57.50 target price on the specialty chemicals company’s stock.

A number of other equities research analysts also recently issued reports on CC. Barclays restated a buy rating and issued a $60.00 target price on shares of Chemours in a report on Wednesday, December 6th. Zacks Investment Research upgraded shares of Chemours from a hold rating to a strong-buy rating and set a $61.00 target price for the company in a report on Tuesday, October 3rd. Jefferies Group boosted their target price on shares of Chemours to $66.00 and gave the company a buy rating in a report on Monday, December 4th. UBS Group boosted their target price on shares of Chemours from $50.00 to $59.00 and gave the company a neutral rating in a report on Friday, November 3rd. Finally, Goldman Sachs Group downgraded shares of Chemours from a buy rating to a neutral rating and set a $55.00 target price for the company. in a report on Wednesday, December 6th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $57.85.

Shares of Chemours (NYSE:CC) opened at $49.22 on Tuesday. Chemours has a twelve month low of $26.33 and a twelve month high of $58.08. The stock has a market cap of $9,100.00 and a P/E ratio of 33.94. 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 (NYSE:CC) last released its earnings results 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. Chemours had a net margin of 4.86% and a return on equity of 116.80%. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the previous year, the firm earned $0.61 earnings per share. Chemours’s revenue was up 13.3% compared to the same quarter last year. equities analysts anticipate that Chemours will post 3.69 EPS for the current year.

Chemours announced that its board has initiated a stock repurchase program on Friday, December 1st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the specialty chemicals company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders 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. This represents a $0.68 annualized dividend and a yield of 1.38%. The ex-dividend date is Wednesday, February 14th. Chemours’s payout ratio is currently 8.28%.

In other Chemours news, insider Christian W. Siemer sold 15,088 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $47.37, for a total transaction of $714,718.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider E Bryan Snell sold 11,878 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $53.25, for a total transaction of $632,503.50. Following the sale, the insider now owns 63,063 shares of the company’s stock, valued at $3,358,104.75. The disclosure for this sale can be found here. 1.14% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the company. Strs Ohio purchased a new position in shares of Chemours in the fourth quarter valued at $116,000. Gamco Investors INC. ET AL purchased a new position in shares of Chemours in the third quarter valued at $202,000. Bell Bank purchased a new position in shares of Chemours in the third quarter valued at $202,000. First Allied Advisory Services Inc. purchased a new position in shares of Chemours in the third quarter valued at $202,000. Finally, First Republic Investment Management Inc. purchased a new position in shares of Chemours in the third quarter valued at $203,000. Institutional investors and hedge funds own 74.41% of the company’s stock.

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About Chemours

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.

Analyst Recommendations for Chemours (NYSE:CC)

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