Chemours (NYSE:CC) Price Target Raised to $29.00

Chemours (NYSE:CC) had its target price lifted by UBS Group from $23.00 to $29.00 in a research note issued to investors on Thursday morning, MarketBeat Ratings reports. The firm currently has a buy rating on the specialty chemicals company’s stock.

A number of other analysts have also weighed in on the stock. Truist Financial increased their price objective on shares of Chemours from $21.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. increased their price objective on shares of Chemours from $13.00 to $17.00 and gave the stock a “neutral” rating in a research report on Monday, February 23rd. Mizuho increased their price objective on shares of Chemours from $17.00 to $21.00 and gave the stock an “outperform” rating in a research report on Thursday, March 5th. Jefferies Financial Group reissued a “hold” rating and issued a $17.00 price objective on shares of Chemours in a research report on Monday, February 23rd. Finally, BMO Capital Markets reduced their price objective on shares of Chemours from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Monday, February 23rd. Five research 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. According to MarketBeat.com, Chemours presently has an average rating of “Hold” and an average target price of $20.40.

Chemours Stock Up 4.0%

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

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

Chemours Dividend Announcement

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

Hedge Funds Weigh In On Chemours

Hedge funds have recently added to or reduced their stakes in the stock. Atlas Capital Advisors Inc. bought a new position in Chemours in the 4th quarter worth about $26,000. Aster Capital Management DIFC Ltd bought a new position in Chemours in the 4th quarter worth about $28,000. Covestor Ltd grew its stake in Chemours by 204.7% in the 4th quarter. Covestor Ltd now owns 2,602 shares of the specialty chemicals company’s stock worth $31,000 after acquiring an additional 1,748 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new position in shares of Chemours during the fourth quarter valued at approximately $31,000. Finally, Rothschild Investment LLC boosted its stake in shares of Chemours by 87.0% during the fourth quarter. Rothschild Investment LLC now owns 2,698 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 1,255 shares in the last quarter. 76.26% of the stock is currently owned by institutional investors.

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.