An issue of Chemours Co. (NYSE:CC) debt fell 1% as a percentage of its face value during trading on Monday. The high-yield issue of debt has a 6.625% coupon and will mature on May 15, 2023. The debt is now trading at $98.50 and was trading at $99.00 one week ago. Price changes in a company’s debt in credit markets often predict parallel changes in its share price.
CC has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Chemours from a “hold” rating to a “strong-buy” rating and set a $14.00 price objective for the company in a research note on Wednesday, August 17th. Jefferies Group lifted their price objective on shares of Chemours from $10.00 to $15.00 and gave the stock a “hold” rating in a research note on Thursday, September 1st. Argus upgraded shares of Chemours from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Wednesday, August 10th. They noted that the move was a valuation call. TheStreet upgraded shares of Chemours from a “sell” rating to a “hold” rating in a research report on Tuesday, August 9th. Finally, Citigroup Inc. dropped their target price on shares of Chemours from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, August 11th. One analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Chemours presently has a consensus rating of “Hold” and an average price target of $11.94.
Shares of Chemours Co. (NYSE:CC) opened at 15.26 on Tuesday. Chemours Co. has a one year low of $3.06 and a one year high of $16.32. The company’s market capitalization is $2.77 billion. The company’s 50 day moving average is $14.51 and its 200 day moving average is $10.59.
Chemours (NYSE:CC) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.10. The company earned $1.38 billion during the quarter, compared to analyst estimates of $1.42 billion. Chemours had a negative net margin of 1.48% and a positive return on equity of 95.01%. The firm’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.10) earnings per share. Equities research analysts predict that Chemours Co. will post $0.92 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of CC. Advisor Partners LLC raised its position in Chemours by 5.0% in the second quarter. Advisor Partners LLC now owns 12,156 shares of the company’s stock valued at $100,000 after buying an additional 580 shares during the last quarter. Seaward Management Limited Partnership raised its position in shares of Chemours by 16.3% in the second quarter. Seaward Management Limited Partnership now owns 12,568 shares of the company’s stock worth $103,000 after buying an additional 1,765 shares in the last quarter. Williams Jones & Associates LLC raised its position in shares of Chemours by 7.8% in the first quarter. Williams Jones & Associates LLC now owns 16,226 shares of the company’s stock worth $114,000 after buying an additional 1,169 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Chemours during the second quarter worth $118,000. Finally, Winton Capital Group Ltd raised its position in shares of Chemours by 1.3% in the second quarter. Winton Capital Group Ltd now owns 15,473 shares of the company’s stock worth $127,000 after buying an additional 194 shares in the last quarter. Institutional investors own 76.59% 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 Company’s Titanium Technologies segment manufactures titanium dioxide (TiO2), which is a pigment used to deliver whiteness, opacity, brightness and protection from sunlight in applications, such as architectural and industrial coatings, plastic packaging, polyvinyl chloride (PVC) window profiles, laminate papers, coated paper and coated paperboard used for packaging.
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