Royal Bank of Canada Trims Chemours (NYSE:CC) Target Price to $35.00

Chemours (NYSE:CCGet Rating) had its price objective reduced by Royal Bank of Canada from $48.00 to $35.00 in a research note issued to investors on Thursday, The Fly reports.

A number of other brokerages have also weighed in on CC. Citigroup boosted their price objective on shares of Chemours to $36.00 in a report on Tuesday, August 9th. UBS Group boosted their price objective on shares of Chemours from $35.00 to $37.00 and gave the stock a neutral rating in a report on Friday, July 29th. StockNews.com upgraded shares of Chemours from a buy rating to a strong-buy rating in a report on Thursday, September 15th. Finally, Bank of America lowered shares of Chemours from a buy rating to a neutral rating and lowered their price objective for the stock from $48.00 to $44.00 in a report on Tuesday, June 14th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $36.67.

Chemours Trading Down 5.3 %

Shares of Chemours stock opened at $26.65 on Thursday. Chemours has a 1 year low of $22.56 and a 1 year high of $44.95. The firm has a market cap of $4.13 billion, a PE ratio of 4.97, a PEG ratio of 0.38 and a beta of 1.80. The company has a debt-to-equity ratio of 3.01, a current ratio of 1.91 and a quick ratio of 1.27. The company has a 50 day simple moving average of $34.36 and a two-hundred day simple moving average of $34.56.

Chemours (NYSE:CCGet Rating) last announced its earnings results on Thursday, July 28th. The specialty chemicals company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.47. The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.84 billion. Chemours had a net margin of 12.72% and a return on equity of 79.77%. Chemours’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.20 earnings per share. Analysts expect that Chemours will post 5.6 earnings per share for the current fiscal year.

Chemours Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Monday, August 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend was Friday, August 12th. Chemours’s payout ratio is 18.66%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Spire Wealth Management increased its stake in shares of Chemours by 29.6% in the first quarter. Spire Wealth Management now owns 3,674 shares of the specialty chemicals company’s stock worth $116,000 after buying an additional 840 shares during the period. 180 Wealth Advisors LLC increased its stake in shares of Chemours by 15.6% in the first quarter. 180 Wealth Advisors LLC now owns 11,881 shares of the specialty chemicals company’s stock worth $420,000 after buying an additional 1,603 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in Chemours by 8.3% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,804,090 shares of the specialty chemicals company’s stock valued at $56,793,000 after purchasing an additional 138,945 shares during the period. JPMorgan Chase & Co. increased its position in Chemours by 56.5% during the 4th quarter. JPMorgan Chase & Co. now owns 445,700 shares of the specialty chemicals company’s stock valued at $14,957,000 after purchasing an additional 160,996 shares during the period. Finally, Prospera Financial Services Inc purchased a new position in Chemours during the 1st quarter valued at $29,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Chemours Company Profile

(Get Rating)

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through four segments: Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials, and Chemical Solutions. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure and BaiMax brands for delivering whiteness, brightness, opacity, 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.

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