BMO Capital Markets Boosts Chemours (NYSE:CC) Price Target to $32.00

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

A number of other brokerages have also recently issued reports on CC. UBS Group decreased their target price on Chemours from $30.00 to $28.00 and set a buy rating for the company in a research report on Tuesday, August 6th. The Goldman Sachs Group lowered their target price on shares of Chemours from $29.00 to $23.00 and set a neutral rating on the stock in a research note on Tuesday, September 3rd. Barclays cut their target price on shares of Chemours from $22.00 to $21.00 and set an equal weight rating for the company in a research report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. lowered their price target on Chemours from $25.00 to $18.00 and set a neutral rating on the stock in a research report on Tuesday, August 6th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $26.88.

Chemours Stock Up 0.6 %

Chemours stock opened at $19.78 on Monday. The company has a current ratio of 1.89, a quick ratio of 1.01 and a debt-to-equity ratio of 5.45. Chemours has a 1-year low of $15.10 and a 1-year high of $32.70. The firm’s fifty day simple moving average is $18.83 and its 200-day simple moving average is $23.23. The company has a market capitalization of $2.95 billion, a P/E ratio of -9.12 and a beta of 1.74.

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

Chemours Announces Dividend

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

Institutional Investors Weigh In On Chemours

Hedge funds have recently made changes to their positions in the stock. Matrix Trust Co bought a new position in Chemours during the third quarter valued at about $25,000. New Covenant Trust Company N.A. acquired a new position in shares of Chemours in the first quarter valued at $29,000. North Star Investment Management Corp. lifted its position in Chemours by 1,510.0% in the first quarter. North Star Investment Management Corp. now owns 1,288 shares of the specialty chemicals company’s stock worth $34,000 after purchasing an additional 1,208 shares during the period. Sunbelt Securities Inc. boosted its stake in Chemours by 1,969.7% during the first quarter. Sunbelt Securities Inc. now owns 1,366 shares of the specialty chemicals company’s stock worth $36,000 after buying an additional 1,300 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new stake in Chemours in the 4th quarter valued at $40,000. 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.