UBS Group Has Lowered Expectations for Chemours (NYSE:CC) Stock Price

Chemours (NYSE:CC) had its price objective decreased by UBS Group from $18.00 to $17.00 in a research note released on Wednesday morning, Marketbeat reports. UBS Group currently has a buy rating on the specialty chemicals company’s stock.

A number of other equities research analysts have also issued reports on the stock. Mizuho set a $15.00 target price on shares of Chemours in a research note on Tuesday, April 15th. Morgan Stanley reduced their target price on Chemours from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. The Goldman Sachs Group lowered their price target on Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. BMO Capital Markets reduced their price objective on Chemours from $34.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Finally, Truist Financial lowered their target price on shares of Chemours from $27.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, April 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $19.11.

Chemours Stock Performance

NYSE:CC opened at $11.12 on Wednesday. The firm has a 50-day moving average of $12.55 and a two-hundred day moving average of $16.54. The company has a debt-to-equity ratio of 6.70, a current ratio of 1.68 and a quick ratio of 0.92. The stock has a market cap of $1.66 billion, a P/E ratio of 19.51 and a beta of 1.76. Chemours has a 1-year low of $9.33 and a 1-year high of $29.21.

Chemours (NYSE:CC) last issued its quarterly earnings data on Tuesday, May 6th. The specialty chemicals company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). Chemours had a net margin of 1.51% and a return on equity of 26.54%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the business earned $0.32 EPS. Chemours’s revenue for the quarter was up .4% compared to the same quarter last year. On average, research analysts expect that Chemours will post 2.03 earnings per share for the current fiscal year.

Chemours Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.25 per share. The ex-dividend date was Friday, February 28th. This represents a $1.00 dividend on an annualized basis and a yield of 8.99%. Chemours’s dividend payout ratio (DPR) is presently 500.00%.

Institutional Investors Weigh In On Chemours

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in Chemours by 99.7% during the 4th quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 765 shares during the period. FNY Investment Advisers LLC bought a new position in shares of Chemours in the first quarter valued at approximately $27,000. UMB Bank n.a. increased its stake in shares of Chemours by 73.9% during the first quarter. UMB Bank n.a. now owns 2,231 shares of the specialty chemicals company’s stock valued at $30,000 after acquiring an additional 948 shares during the period. Farther Finance Advisors LLC raised its holdings in Chemours by 170.7% during the first quarter. Farther Finance Advisors LLC now owns 2,290 shares of the specialty chemicals company’s stock worth $30,000 after purchasing an additional 1,444 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its position in Chemours by 100.4% in the fourth quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company’s stock worth $38,000 after purchasing an additional 1,119 shares during the period. 76.26% of the stock is currently owned by institutional investors.

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.