Chemours (NYSE:CC) Price Target Raised to $17.00

Chemours (NYSE:CC) had its price objective boosted by JPMorgan Chase & Co. from $13.00 to $17.00 in a report released on Monday,Benzinga reports. The firm currently has a neutral rating on the specialty chemicals company’s stock.

CC has been the subject of a number of other reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Chemours in a research report on Wednesday, January 21st. UBS Group raised their target price on shares of Chemours from $18.00 to $23.00 and gave the company a “buy” rating in a research report on Monday. Mizuho set a $17.00 price target on shares of Chemours in a research report on Monday. Truist Financial upped their price target on shares of Chemours from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Finally, Morgan Stanley raised their price objective on shares of Chemours from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Monday. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Chemours currently has an average rating of “Hold” and an average target price of $18.00.

Chemours Stock Down 2.1%

Shares of Chemours stock opened at $18.02 on Monday. The firm has a market cap of $2.70 billion, a PE ratio of -7.26 and a beta of 1.63. Chemours has a 52-week low of $9.13 and a 52-week high of $21.85. The business’s 50 day simple moving average is $15.63 and its 200 day simple moving average is $14.58. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.85 and a current ratio of 1.78.

Chemours (NYSE:CC) last posted its quarterly earnings results on Thursday, February 19th. The specialty chemicals company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. Chemours had a positive return on equity of 41.75% and a negative net margin of 6.41%.The business’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 EPS. On average, analysts predict that Chemours will post 2.03 earnings per share for the current fiscal year.

Chemours Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be paid a dividend of $0.0875 per share. The ex-dividend date is Friday, February 27th. This represents a $0.35 annualized dividend and a dividend yield of 1.9%. Chemours’s dividend payout ratio is presently -14.11%.

Hedge Funds Weigh In On Chemours

Several large investors have recently modified their holdings of CC. Entropy Technologies LP lifted its position in Chemours by 478.3% during the 2nd quarter. Entropy Technologies LP now owns 62,075 shares of the specialty chemicals company’s stock valued at $711,000 after acquiring an additional 51,341 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Chemours in the 3rd quarter worth approximately $2,124,000. Vision One Management Partners LP raised its holdings in Chemours by 10.4% in the 2nd quarter. Vision One Management Partners LP now owns 1,720,189 shares of the specialty chemicals company’s stock worth $19,696,000 after acquiring an additional 161,691 shares during the last quarter. Geode Capital Management LLC lifted its position in Chemours by 41.4% in the 2nd quarter. Geode Capital Management LLC now owns 3,484,416 shares of the specialty chemicals company’s stock valued at $39,901,000 after acquiring an additional 1,020,933 shares in the last quarter. Finally, Bryce Point Capital LLC purchased a new stake in Chemours during the 2nd quarter valued at $955,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

About Chemours

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours’ principal business activities are organized into three core segments.