Chemours (NYSE:CC) Price Target Increased to $32.00 by Analysts at BMO Capital Markets

Chemours (NYSE:CC) had its target price boosted by BMO Capital Markets from $30.00 to $32.00 in a report published on Monday morning, Benzinga reports. They currently have an outperform rating on the specialty chemicals company’s stock.

A number of other research firms have also recently issued reports on CC. Barclays reduced their price target on shares of Chemours from $22.00 to $21.00 and set an equal weight rating on the stock in a research report on Wednesday, September 25th. UBS Group decreased their price target on shares of Chemours from $30.00 to $28.00 and set a buy rating on the stock in a research note on Tuesday, August 6th. JPMorgan Chase & Co. dropped their price objective on shares of Chemours from $25.00 to $18.00 and set a neutral rating for the company in a research report on Tuesday, August 6th. Finally, The Goldman Sachs Group decreased their price objective on Chemours from $29.00 to $23.00 and set a neutral rating on the stock in a research report on Tuesday, September 3rd. 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 stock currently has an average rating of Hold and an average price target of $26.88.

Chemours Stock Performance

NYSE CC opened at $19.78 on Monday. Chemours has a 1-year low of $15.10 and a 1-year high of $32.70. The company has a 50 day moving average of $18.83 and a 200-day moving average of $23.23. The company has a current ratio of 1.89, a quick ratio of 1.01 and a debt-to-equity ratio of 5.45. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of -9.12 and a beta of 1.74.

Chemours (NYSE:CC) last released its quarterly earnings results on Thursday, August 1st. The specialty chemicals company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.19). The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Chemours had a net margin of 2.16% and a return on equity of 33.21%. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.10 earnings per share. On average, equities analysts forecast that Chemours will post 1.33 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date of this dividend was Thursday, August 15th. Chemours’s dividend payout ratio (DPR) is currently -46.08%.

Institutional Investors Weigh In On Chemours

A number of institutional investors have recently made changes to their positions in CC. Mitsubishi UFJ Trust & Banking Corp increased its stake in Chemours by 169.3% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 35,105 shares of the specialty chemicals company’s stock valued at $1,009,000 after purchasing an additional 22,067 shares in the last quarter. Khrom Capital Management LLC raised its stake in Chemours by 54.6% during the 2nd quarter. Khrom Capital Management LLC now owns 3,456,626 shares of the specialty chemicals company’s stock worth $78,016,000 after buying an additional 1,220,967 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in Chemours during the first quarter worth about $1,764,000. Edgestream Partners L.P. acquired a new position in Chemours in the first quarter valued at about $1,228,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Chemours in the second quarter worth about $789,000. 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.