Chemours (NYSE:CC) Price Target Cut to $27.00 by Analysts at BMO Capital Markets

Chemours (NYSE:CC) had its price objective decreased by BMO Capital Markets from $34.00 to $27.00 in a report published on Wednesday,Benzinga reports. BMO Capital Markets currently has an outperform rating on the specialty chemicals company’s stock.

A number of other research firms have also weighed in on CC. Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 price objective on shares of Chemours in a research note on Thursday, December 12th. Truist Financial initiated coverage on shares of Chemours in a research note on Tuesday, January 28th. They issued a “buy” rating and a $27.00 price objective for the company. Morgan Stanley reduced their price objective on shares of Chemours from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Barclays lifted their price objective on shares of Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Finally, Mizuho reduced their price objective on shares of Chemours from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Chemours has an average rating of “Hold” and an average price target of $23.56.

Chemours Trading Down 2.0 %

NYSE:CC opened at $17.13 on Wednesday. The company has a debt-to-equity ratio of 6.05, a quick ratio of 0.92 and a current ratio of 1.73. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of 34.26 and a beta of 1.81. Chemours has a 52 week low of $15.10 and a 52 week high of $29.83. The firm has a 50-day moving average price of $18.17 and a two-hundred day moving average price of $18.94.

Chemours (NYSE:CC) last issued its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. Chemours had a net margin of 1.34% and a return on equity of 29.48%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.37 billion. On average, equities analysts expect that Chemours will post 1.21 earnings per share for the current fiscal year.

Chemours Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.84%. The ex-dividend date of this dividend is Friday, February 28th. Chemours’s payout ratio is presently 200.00%.

Hedge Funds Weigh In On Chemours

A number of hedge funds have recently modified their holdings of CC. Creative Planning increased its position in shares of Chemours by 66.6% in the third quarter. Creative Planning now owns 44,228 shares of the specialty chemicals company’s stock valued at $899,000 after acquiring an additional 17,682 shares during the period. Blue Trust Inc. increased its position in shares of Chemours by 166.9% during the third quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 731 shares during the period. Signaturefd LLC increased its position in shares of Chemours by 163.7% during the third quarter. Signaturefd LLC now owns 1,959 shares of the specialty chemicals company’s stock valued at $40,000 after buying an additional 1,216 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Chemours during the third quarter valued at about $4,110,000. Finally, State of Alaska Department of Revenue increased its position in shares of Chemours by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 17,205 shares of the specialty chemicals company’s stock valued at $349,000 after buying an additional 1,175 shares during the period. Hedge funds and other 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.