Chemours (NYSE:CC) Price Target Raised to $27.00

Chemours (NYSE:CC) had its target price boosted by Truist Financial from $21.00 to $27.00 in a research note released on Thursday morning, MarketBeat.com reports. The brokerage currently has a buy rating on the specialty chemicals company’s stock.

CC has been the subject of several other research reports. JPMorgan Chase & Co. raised their price objective on shares of Chemours from $13.00 to $17.00 and gave the stock a “neutral” rating in a report on Monday, February 23rd. 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 report on Monday, February 23rd. BMO Capital Markets dropped their price objective on shares of Chemours from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Monday, February 23rd. UBS Group raised their price objective on shares of Chemours from $18.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $17.00 price objective on shares of Chemours in a report on Monday, February 23rd. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $20.40.

Chemours Stock Performance

NYSE:CC opened at $22.72 on Thursday. Chemours has a 12-month low of $9.13 and a 12-month high of $22.99. The company has a quick ratio of 0.85, a current ratio of 1.78 and a debt-to-equity ratio of 16.33. The firm has a market capitalization of $3.41 billion, a PE ratio of -9.16 and a beta of 1.41. The firm has a 50-day moving average price of $19.24 and a 200 day moving average price of $15.45.

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

Chemours Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were paid a dividend of $0.0875 per share. This represents a $0.35 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, February 27th. Chemours’s dividend payout ratio is -14.11%.

Institutional Trading of Chemours

Several hedge funds have recently modified their holdings of CC. Cooper Creek Partners Management LLC bought a new stake in shares of Chemours during the third quarter valued at approximately $63,103,000. Scopia Capital Management LP grew its stake in shares of Chemours by 71.7% during the second quarter. Scopia Capital Management LP now owns 3,355,261 shares of the specialty chemicals company’s stock valued at $38,418,000 after purchasing an additional 1,401,539 shares during the last quarter. State Street Corp grew its stake in shares of Chemours by 22.7% during the second quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company’s stock valued at $70,009,000 after purchasing an additional 1,131,682 shares during the last quarter. Wolf Hill Capital Management LP bought a new stake in shares of Chemours during the third quarter valued at approximately $17,025,000. Finally, Sona Asset Management US LLC grew its stake in shares of Chemours by 176.9% during the fourth quarter. Sona Asset Management US LLC now owns 1,651,275 shares of the specialty chemicals company’s stock valued at $19,469,000 after purchasing an additional 1,055,000 shares during the last quarter. 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.