Royal Bank of Canada Issues Pessimistic Forecast for Chemours (NYSE:CC) Stock Price

Chemours (NYSE:CC) had its price target cut by Royal Bank of Canada from $28.00 to $25.00 in a research note published on Wednesday,Benzinga reports. They currently have an outperform rating on the specialty chemicals company’s stock.

Several other research analysts have also recently issued reports on CC. JPMorgan Chase & Co. dropped their target price on shares of Chemours from $25.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. BMO Capital Markets increased their price objective on shares of Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. The Goldman Sachs Group reduced their price objective on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, September 3rd. Morgan Stanley dropped their target price on Chemours from $30.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, UBS Group reduced their price target on Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $24.88.

Chemours Trading Down 0.6 %

Shares of NYSE:CC traded down $0.13 during trading on Wednesday, reaching $20.59. 408,674 shares of the company were exchanged, compared to its average volume of 1,576,663. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.89 and a quick ratio of 1.01. The firm has a market capitalization of $3.07 billion, a PE ratio of 41.46 and a beta of 1.75. The business’s fifty day simple moving average is $19.01 and its 200-day simple moving average is $22.13. Chemours has a 12-month low of $15.10 and a 12-month high of $32.70.

Chemours (NYSE:CC) last issued its earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. Chemours had a return on equity of 33.21% and a net margin of 2.16%. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the previous year, the company posted $0.64 EPS. Chemours’s revenue was up .9% on a year-over-year basis. On average, research analysts anticipate that Chemours will post 1.32 EPS for the current year.

Chemours Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.86%. Chemours’s payout ratio is 200.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CC. Burney Co. lifted its holdings in shares of Chemours by 0.3% during the first quarter. Burney Co. now owns 197,046 shares of the specialty chemicals company’s stock worth $5,174,000 after purchasing an additional 601 shares during the period. Lavaca Capital LLC boosted its holdings in shares of Chemours by 2.7% in the 1st quarter. Lavaca Capital LLC now owns 24,658 shares of the specialty chemicals company’s stock valued at $648,000 after acquiring an additional 641 shares during the last quarter. KBC Group NV increased its stake in shares of Chemours by 19.5% in the third quarter. KBC Group NV now owns 4,468 shares of the specialty chemicals company’s stock worth $91,000 after acquiring an additional 728 shares during the period. Blue Trust Inc. raised its holdings 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 worth $26,000 after purchasing an additional 731 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in Chemours by 2.1% during the second quarter. Arizona State Retirement System now owns 41,657 shares of the specialty chemicals company’s stock valued at $940,000 after purchasing an additional 863 shares during the period. Institutional investors and hedge funds 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.