Chemours (NYSE:CC) Given New $17.00 Price Target at JPMorgan Chase & Co.

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

A number of other research firms have also recently issued reports on CC. Royal Bank Of Canada reiterated an “outperform” rating and issued a $18.00 target price on shares of Chemours in a research report on Friday, January 16th. BMO Capital Markets decreased their price target on shares of Chemours from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday. UBS Group upped their price objective on shares of Chemours from $18.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday. Mizuho set a $17.00 target price on shares of Chemours in a research report on Monday. Finally, Morgan Stanley boosted their target price on shares of Chemours from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Monday. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $17.60.

Chemours Stock Up 5.2%

Shares of CC opened at $17.93 on Monday. Chemours has a one year low of $9.13 and a one year high of $21.85. The company has a market cap of $2.69 billion, a P/E ratio of -7.23 and a beta of 1.63. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.78 and a quick ratio of 0.85. The firm has a 50 day simple moving average of $15.36 and a two-hundred day simple moving average of $14.51.

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

Chemours Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be issued a dividend of $0.0875 per share. This represents a $0.35 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, February 27th. Chemours’s payout ratio is -14.11%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Chemours by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 17,920,868 shares of the specialty chemicals company’s stock valued at $211,287,000 after buying an additional 490,778 shares during the last quarter. State Street Corp lifted its stake in shares of Chemours by 22.7% in the second quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company’s stock worth $70,009,000 after acquiring an additional 1,131,682 shares during the period. Ameriprise Financial Inc. boosted its holdings in Chemours by 13.8% in the third quarter. Ameriprise Financial Inc. now owns 4,796,153 shares of the specialty chemicals company’s stock valued at $75,971,000 after acquiring an additional 580,089 shares during the last quarter. UBS Group AG increased its position in Chemours by 0.3% during the 3rd quarter. UBS Group AG now owns 4,754,492 shares of the specialty chemicals company’s stock valued at $75,311,000 after purchasing an additional 14,865 shares during the period. Finally, Cooper Creek Partners Management LLC acquired a new stake in Chemours during the 3rd quarter valued at approximately $63,103,000. 76.26% of the stock is owned by institutional investors.

Chemours Company Profile

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.