Royal Bank of Canada Issues Pessimistic Forecast for Chemours (NYSE:CC) Stock Price

Chemours (NYSE:CC) had its price target lowered by Royal Bank of Canada from $28.00 to $25.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the specialty chemicals company’s stock.

A number of other equities analysts also recently commented on the company. Morgan Stanley cut their price objective on Chemours from $30.00 to $25.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. The Goldman Sachs Group dropped their price objective on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, September 3rd. UBS Group reduced their target price on shares of Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. JPMorgan Chase & Co. lowered their price target on Chemours from $25.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Finally, Barclays boosted their price objective on Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $24.88.

Chemours Stock Down 3.2 %

Shares of NYSE:CC opened at $19.79 on Wednesday. Chemours has a 12-month low of $15.10 and a 12-month high of $32.70. The stock’s 50-day moving average price is $19.04 and its two-hundred day moving average price is $22.04. The company has a current ratio of 1.73, a quick ratio of 1.01 and a debt-to-equity ratio of 6.05. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of 39.58 and a beta of 1.75.

Chemours (NYSE:CC) last issued its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.32 by $0.08. Chemours had a net margin of 1.34% and a return on equity of 29.48%. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the prior year, the business posted $0.64 earnings per share. Chemours’s revenue for the quarter was up .9% compared to the same quarter last year. On average, research analysts forecast that Chemours will post 1.35 EPS for the current year.

Chemours Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date is Friday, November 15th. Chemours’s payout ratio is 200.00%.

Institutional Investors Weigh In On Chemours

Hedge funds and other institutional investors have recently bought and sold shares of the business. Burney Co. lifted its position in shares of Chemours by 0.3% during the first quarter. Burney Co. now owns 197,046 shares of the specialty chemicals company’s stock worth $5,174,000 after purchasing an additional 601 shares during the last quarter. Lavaca Capital LLC grew its position in shares of Chemours by 2.7% in the 1st quarter. Lavaca Capital LLC now owns 24,658 shares of the specialty chemicals company’s stock worth $648,000 after acquiring an additional 641 shares in the last quarter. KBC Group NV increased its holdings in shares of Chemours by 19.5% in the 3rd quarter. KBC Group NV now owns 4,468 shares of the specialty chemicals company’s stock valued at $91,000 after acquiring an additional 728 shares during the last quarter. Blue Trust Inc. raised its position in shares of Chemours by 166.9% during the 3rd quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 731 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in Chemours by 2.1% in the second quarter. Arizona State Retirement System now owns 41,657 shares of the specialty chemicals company’s stock worth $940,000 after purchasing an additional 863 shares during the period. 76.26% of the stock is currently owned by hedge funds and other 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.