BMO Capital Markets Cuts Chemours (NYSE:CC) Price Target to $27.00

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

Several other analysts have also recently commented on the stock. Truist Financial assumed coverage on shares of Chemours in a research note on Tuesday, January 28th. They issued a “buy” rating and a $27.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $25.00 target price on shares of Chemours in a report on Thursday, December 12th. Barclays boosted their target price on shares of Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Morgan Stanley reduced their target price on shares of Chemours from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Finally, Mizuho reduced their target price on shares of Chemours from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Chemours presently has a consensus rating of “Hold” and a consensus price target of $23.56.

Chemours Trading Down 4.1 %

NYSE:CC opened at $16.77 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 0.92 and a debt-to-equity ratio of 6.70. Chemours has a 12 month low of $15.10 and a 12 month high of $29.83. The company has a market cap of $2.51 billion, a PE ratio of 29.42 and a beta of 1.81. The company has a 50 day simple moving average of $18.09 and a two-hundred day simple moving average of $18.91.

Chemours (NYSE:CC) last posted its earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. Chemours had a net margin of 1.51% and a return on equity of 26.54%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.37 billion. Research analysts forecast that Chemours will post 2.06 earnings per share for the current year.

Chemours Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.96%. Chemours’s dividend payout ratio is currently 175.44%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Planning increased its stake 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 worth $899,000 after acquiring an additional 17,682 shares during the period. Blue Trust Inc. lifted its holdings in 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 purchasing an additional 731 shares in the last quarter. Signaturefd LLC lifted its holdings in 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 purchasing an additional 1,216 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Chemours in the third quarter worth about $4,110,000. Finally, State of Alaska Department of Revenue lifted its stake in shares of Chemours by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 17,205 shares of the specialty chemicals company’s stock worth $349,000 after buying an additional 1,175 shares in the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

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.