Chemours (NYSE:CC) Given New $25.00 Price Target at Royal Bank of Canada

Chemours (NYSE:CC) had its price target decreased by Royal Bank of Canada from $28.00 to $25.00 in a research report released on Wednesday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the specialty chemicals company’s stock.

CC has been the topic of a number of other research reports. The Goldman Sachs Group lowered their price target on Chemours from $29.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, September 3rd. Barclays boosted their target price on Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Morgan Stanley lowered their price objective on shares of Chemours from $30.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. UBS Group cut their price objective on shares of Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Chemours from $25.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $24.88.

Chemours Price Performance

Shares of CC opened at $19.79 on Wednesday. The firm has a fifty day moving average price of $19.04 and a 200 day moving average price of $22.04. The stock has a market cap of $2.96 billion, a PE ratio of 39.58 and a beta of 1.75. Chemours has a 1-year low of $15.10 and a 1-year high of $32.70. The company has a debt-to-equity ratio of 6.05, a current ratio of 1.73 and a quick ratio of 1.01.

Chemours (NYSE:CC) last posted its earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.08. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.44 billion. Chemours had a return on equity of 29.48% and a net margin of 1.34%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business earned $0.64 EPS. As a group, sell-side analysts anticipate that Chemours will post 1.35 EPS for the current year.

Chemours Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date is Friday, November 15th. Chemours’s dividend payout ratio is currently 200.00%.

Hedge Funds Weigh In On Chemours

Several hedge funds and other institutional investors have recently bought and sold shares of CC. Khrom Capital Management LLC raised its position in Chemours by 156.7% during the first quarter. Khrom Capital Management LLC now owns 2,235,659 shares of the specialty chemicals company’s stock worth $58,708,000 after acquiring an additional 1,364,634 shares during the last quarter. Marshall Wace LLP grew its holdings in Chemours by 23.8% during the 2nd quarter. Marshall Wace LLP now owns 7,009,868 shares of the specialty chemicals company’s stock valued at $158,213,000 after buying an additional 1,347,710 shares during the last quarter. Forest Avenue Capital Management LP increased its position in Chemours by 236.9% during the second quarter. Forest Avenue Capital Management LP now owns 845,728 shares of the specialty chemicals company’s stock worth $19,088,000 after buying an additional 594,660 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Chemours by 26.7% in the second quarter. American Century Companies Inc. now owns 1,811,957 shares of the specialty chemicals company’s stock worth $40,896,000 after acquiring an additional 382,100 shares during the last quarter. Finally, Private Management Group Inc. lifted its position in shares of Chemours by 72.0% in the third quarter. Private Management Group Inc. now owns 785,809 shares of the specialty chemicals company’s stock valued at $15,968,000 after acquiring an additional 329,037 shares in the last quarter. 76.26% of the stock is owned by institutional investors and hedge funds.

About Chemours

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.