The Chemours Company (NYSE: CC) stock fell -0.89% on Friday to $34.46 against a previous-day closing price of $34.77. With 1.11 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.79 million shares. During the session, the Specialty Chemicals company that operates in wider Basic Materials sector, reached to the highest price of $35.03 whereas the lowest price it dropped to was $33.97. The 52-week range on CC shows that it touched its highest point at $44.95 and its lowest point at $22.56 during that stretch. It currently has a 1-year price target of $43.10. With its current market cap of 5.15 billion, CC has annualized dividend of $1.00 while the current yield stands at 2.90%. Beta for the stock currently stands at 1.82.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CC was up-trending over the past week, with a rise of 0.70%, but this was up by 14.52% over a month. Three-month performance dropped to -11.44% while six-month performance rose 2.65%. The stock gained 0.91% in the past year, while it has gained 2.68% so far this year. A look at the trailing 12-month EPS for CC yields 4.48 with Next year EPS estimates of 5.92. For the next quarter, that number is 1.31. This implies an EPS growth rate of 173.80% for this year and 12.22% for next year. EPS is expected to grow by 13.50% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 148.30%.
Float and Shares Shorts:
At present, 159.90 million CC shares are outstanding with a float of 150.04 million shares on hand for trading. On Jul 14, 2022, short shares totaled 4.83 million, which was 3.11% higher than short shares on Jun 14, 2022. In addition to Mr. Mark E. Newman as the firm’s CEO, Pres & Director, Mr. Sameer Ralhan serves as its Sr. VP & CFO.
Through their ownership of 77.65% of CC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 44.42% of CC, in contrast to 32.95% held by mutual funds. Shares owned by individuals account for 1.79%. As the largest shareholder in CC with 10.68% of the stake, BlackRock Fund Advisors holds 16,606,657 shares worth 16,606,657. A second-largest stockholder of CC, The Vanguard Group, Inc., holds 15,905,700 shares, controlling over 10.23% of the firm’s shares. Fidelity Management & Research Co is the third largest shareholder in CC, holding 12,353,716 shares or 7.95% stake. With a 2.95% stake in CC, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 4,591,457 shares are owned by the mutual fund manager. The iShares Core S&P Mid Cap ETF, which owns about 2.88% of CC stock, is the second-largest Mutual Fund holder. It holds 4,476,623 shares valued at 143.34 million. iShares Tr. – Select Dividend ETF holds 2.76% of the stake in CC, owning 4,284,326 shares worth 137.18 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CC since 13 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 7 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CC analysts setting a high price target of $59.00 and a low target of $32.00, the average target price over the next 12 months is $43.55. Based on these targets, CC could surge 71.21% to reach the target high and fall by -7.14% to reach the target low. Reaching the average price target will result in a growth of 26.38% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CC will report FY 2022 earnings on 02/09/2023. Analysts have provided yearly estimates in a range of $5.75 being high and $5.04 being low. For CC, this leads to a yearly average estimate of $5.54. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. The Chemours Company surprised analysts by $0.48 when it reported $1.89 EPS against a consensus estimate of $1.41. The surprise factor in the prior quarter was $0.55. Based on analyst estimates, the high estimate for the next quarter is $1.43 and the low estimate is $1.16. The average estimate for the next quarter is thus $1.30.
Summary of Insider Activity:
Insiders traded CC stock several times over the past three months with 13 Buys and 13 Sells. In these transactions, 487,850 shares were bought while 487,850 shares were sold. The number of buy transactions has increased to 54 while that of sell transactions has risen to 47 over the past year. The total number of shares bought during that period was 1,028,834 while 865,072 shares were sold.