Chemours (NYSE:CC) PT Lowered to $28.00

Chemours (NYSE:CC) had its price target decreased by Royal Bank of Canada from $35.00 to $28.00 in a report published on Friday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the specialty chemicals company’s stock.

A number of other analysts have also commented on CC. Barclays reduced their price target on shares of Chemours from $22.00 to $21.00 and set an equal weight rating for the company in a research note on Wednesday, September 25th. BMO Capital Markets lifted their target price on shares of Chemours from $30.00 to $32.00 and gave the stock an outperform rating in a research report on Monday, October 7th. JPMorgan Chase & Co. decreased their target price on shares of Chemours from $25.00 to $18.00 and set a neutral rating for the company in a research note on Tuesday, August 6th. UBS Group dropped their price target on Chemours from $30.00 to $28.00 and set a buy rating on the stock in a research note on Tuesday, August 6th. Finally, The Goldman Sachs Group reduced their price objective on Chemours from $29.00 to $23.00 and set a neutral rating for the company in a research report on Tuesday, September 3rd. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $25.38.

Chemours Stock Performance

CC stock opened at $19.94 on Friday. The stock’s 50 day simple moving average is $18.85 and its 200 day simple moving average is $23.06. The company has a current ratio of 1.89, a quick ratio of 1.01 and a debt-to-equity ratio of 5.45. Chemours has a 12-month low of $15.10 and a 12-month high of $32.70. The stock has a market capitalization of $2.97 billion, a PE ratio of -9.19 and a beta of 1.74.

Chemours (NYSE:CC) last announced its quarterly earnings results on Thursday, August 1st. The specialty chemicals company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.19). Chemours had a net margin of 2.16% and a return on equity of 33.21%. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the company earned $1.10 earnings per share. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. As a group, research analysts forecast that Chemours will post 1.32 earnings per share for the current fiscal year.

Chemours Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 5.02%. Chemours’s dividend payout ratio is currently -46.08%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Matrix Trust Co bought a new stake in shares of Chemours during the 3rd quarter valued at $25,000. New Covenant Trust Company N.A. bought a new stake in Chemours during the first quarter valued at about $29,000. North Star Investment Management Corp. lifted its position in shares of Chemours by 1,510.0% in the first quarter. North Star Investment Management Corp. now owns 1,288 shares of the specialty chemicals company’s stock valued at $34,000 after acquiring an additional 1,208 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in shares of Chemours by 1,969.7% in the first quarter. Sunbelt Securities Inc. now owns 1,366 shares of the specialty chemicals company’s stock worth $36,000 after acquiring an additional 1,300 shares during the period. Finally, Neo Ivy Capital Management purchased a new stake in shares of Chemours during the fourth quarter worth about $40,000. Institutional investors own 76.26% of the company’s stock.

Chemours Company Profile

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through three segments: Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.