UBS AG Upgrades Chemours Company (The) (NYSE:CC) to “Neutral”

UBS AG upgraded shares of Chemours Company (The) (NYSE:CC) from a sell rating to a neutral rating in a research note issued to investors on Monday, August 7th, 99wallstreet.com reports. The firm currently has $50.00 target price on the specialty chemicals company’s stock, up from their prior target price of $36.00.

CC has been the subject of a number of other research reports. Citigroup Inc. reaffirmed a neutral rating and issued a $40.00 price target (up previously from $34.00) on shares of Chemours Company (The) in a research report on Friday, April 14th. ValuEngine upgraded Chemours Company (The) from a hold rating to a buy rating in a research note on Friday, June 2nd. J P Morgan Chase & Co upgraded Chemours Company (The) from a neutral rating to an overweight rating and lifted their price objective for the stock from $39.00 to $50.00 in a research note on Friday, May 12th. BidaskClub lowered Chemours Company (The) from a buy rating to a hold rating in a research note on Saturday, June 17th. Finally, Zacks Investment Research upgraded Chemours Company (The) from a hold rating to a strong-buy rating and set a $51.00 price objective on the stock in a research note on Friday, July 14th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Chemours Company (The) presently has a consensus rating of Buy and an average target price of $51.50.

Chemours Company (NYSE:CC) opened at 46.08 on Monday. The company’s 50-day moving average price is $45.01 and its 200 day moving average price is $38.80. Chemours Company has a 52-week low of $12.16 and a 52-week high of $51.51. The stock has a market capitalization of $8.52 billion, a P/E ratio of 30.16 and a beta of 3.63.

Chemours Company (The) (NYSE:CC) last released its quarterly earnings data on Wednesday, August 2nd. The specialty chemicals company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Chemours Company (The) had a return on equity of 122.97% and a net margin of 4.96%. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter last year, the firm earned $0.27 earnings per share. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities research analysts anticipate that Chemours Company will post $3.51 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: This piece of content was published by Community Financial News and is the sole property of of Community Financial News. If you are accessing this piece of content on another site, it was illegally copied and republished in violation of U.S. and international trademark & copyright laws. The original version of this piece of content can be accessed at https://www.com-unik.info/2017/08/19/chemours-company-the-nysecc-upgraded-to-neutral-at-ubs-ag-updated.html.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 17th will be paid a dividend of $0.03 per share. The ex-dividend date is Tuesday, August 15th. This represents a $0.12 annualized dividend and a yield of 0.26%. Chemours Company (The)’s dividend payout ratio is 8.11%.

In related news, insider Paul Kirsch sold 19,036 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $41.42, for a total transaction of $788,471.12. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider E Bryan Snell sold 10,000 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $46.24, for a total value of $462,400.00. The disclosure for this sale can be found here. Insiders have sold 31,536 shares of company stock worth $1,365,946 over the last 90 days. Corporate insiders own 1.14% of the company’s stock.

A number of institutional investors have recently modified their holdings of CC. BlackRock Inc. raised its position in shares of Chemours Company (The) by 48,297.2% in the first quarter. BlackRock Inc. now owns 19,160,930 shares of the specialty chemicals company’s stock valued at $737,696,000 after buying an additional 19,121,339 shares in the last quarter. FMR LLC raised its position in shares of Chemours Company (The) by 36.6% in the first quarter. FMR LLC now owns 14,925,373 shares of the specialty chemicals company’s stock valued at $574,627,000 after buying an additional 3,998,914 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Chemours Company (The) by 64.1% in the first quarter. Prudential Financial Inc. now owns 4,473,227 shares of the specialty chemicals company’s stock valued at $172,219,000 after buying an additional 1,747,880 shares in the last quarter. Renaissance Technologies LLC increased its stake in Chemours Company (The) by 135.9% in the first quarter. Renaissance Technologies LLC now owns 3,031,400 shares of the specialty chemicals company’s stock worth $116,709,000 after buying an additional 1,746,100 shares during the last quarter. Finally, State Street Corp increased its stake in Chemours Company (The) by 35.1% in the first quarter. State Street Corp now owns 5,791,792 shares of the specialty chemicals company’s stock worth $222,987,000 after buying an additional 1,504,657 shares during the last quarter. Hedge funds and other institutional investors own 76.51% of the company’s stock.

About Chemours Company (The)

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 Company (The) (NYSE:CC)

What are top analysts saying about Chemours Company (The)? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Chemours Company (The) and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit