Chemours (NYSE:CC) Price Target Cut to $28.00 by Analysts at Royal Bank of Canada

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

CC has been the topic of several other reports. Barclays cut their target price on shares of Chemours from $22.00 to $21.00 and set an equal weight rating on the stock in a research note on Wednesday, September 25th. BMO Capital Markets increased their price objective 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. 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. 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 note on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. decreased their price objective on Chemours from $25.00 to $18.00 and set a neutral rating for the company in a report on Tuesday, August 6th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $25.38.

Chemours Trading Up 3.1 %

NYSE:CC opened at $20.39 on Friday. Chemours has a 52 week low of $15.10 and a 52 week high of $32.70. The firm’s fifty day moving average is $18.82 and its 200-day moving average is $23.17. The firm has a market cap of $3.04 billion, a P/E ratio of 25.17 and a beta of 1.74. The company has a debt-to-equity ratio of 5.45, a quick ratio of 1.01 and a current ratio of 1.89.

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

Chemours Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders 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 dividend yield of 4.90%. Chemours’s dividend payout ratio is presently 123.46%.

Hedge Funds Weigh In On Chemours

Hedge funds have recently bought and sold shares of the company. Matrix Trust Co purchased a new position in shares of Chemours in the 3rd quarter worth approximately $25,000. New Covenant Trust Company N.A. purchased a new stake in shares of Chemours during the first quarter valued at approximately $29,000. North Star Investment Management Corp. lifted its holdings in Chemours by 1,510.0% during the first quarter. North Star Investment Management Corp. now owns 1,288 shares of the specialty chemicals company’s stock worth $34,000 after acquiring an additional 1,208 shares during the period. Sunbelt Securities Inc. boosted its position in 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 purchasing an additional 1,300 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new position in Chemours in the 4th quarter valued at $40,000. 76.26% of the stock is owned by hedge funds and other institutional investors.

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.