Royal Bank of Canada Trims Chemours (CC) Target Price to $43.00

Chemours (NYSE:CC) had its target price decreased by Royal Bank of Canada to $43.00 in a report released on Monday, The Fly reports. Royal Bank of Canada currently has an outperform rating on the specialty chemicals company’s stock.

CC has been the subject of a number of other research reports. ValuEngine lowered Chemours from a sell rating to a strong sell rating in a research note on Wednesday, May 1st. HSBC started coverage on Chemours in a research note on Tuesday, January 8th. They set a buy rating and a $52.00 price objective for the company. Zacks Investment Research upgraded Chemours from a sell rating to a hold rating in a research note on Monday, March 18th. SunTrust Banks raised their price objective on Chemours to $40.00 and gave the company a hold rating in a research note on Tuesday, February 19th. Finally, Susquehanna Bancshares reaffirmed a neutral rating and set a $37.00 target price on shares of Chemours in a report on Tuesday, February 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $46.00.

Shares of NYSE CC opened at $31.61 on Monday. Chemours has a fifty-two week low of $25.17 and a fifty-two week high of $53.25. The company has a quick ratio of 1.04, a current ratio of 1.81 and a debt-to-equity ratio of 5.18. The company has a market cap of $5.68 billion, a price-to-earnings ratio of 5.57, a price-to-earnings-growth ratio of 0.49 and a beta of 2.20.

Chemours (NYSE:CC) last issued its quarterly earnings data on Thursday, May 2nd. The specialty chemicals company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.30). Chemours had a net margin of 12.60% and a return on equity of 87.75%. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the business earned $1.41 EPS. Chemours’s revenue for the quarter was down 20.5% compared to the same quarter last year. Equities analysts expect that Chemours will post 4.52 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Thursday, May 16th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Wednesday, May 15th. Chemours’s dividend payout ratio (DPR) is 17.64%.

In related news, VP Mark Newman sold 59,210 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $38.26, for a total value of $2,265,374.60. Following the sale, the vice president now owns 94,261 shares of the company’s stock, valued at approximately $3,606,425.86. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Amy Trojanowski sold 13,536 shares of Chemours stock in a transaction on Friday, March 1st. The shares were sold at an average price of $38.63, for a total value of $522,895.68. Following the sale, the vice president now directly owns 54,367 shares in the company, valued at approximately $2,100,197.21. The disclosure for this sale can be found here. In the last three months, insiders sold 101,924 shares of company stock worth $3,924,730. Company insiders own 2.34% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Live Your Vision LLC raised its stake in Chemours by 6.3% during the 1st quarter. Live Your Vision LLC now owns 4,993 shares of the specialty chemicals company’s stock valued at $198,000 after acquiring an additional 295 shares in the last quarter. Financial Architects Inc raised its stake in Chemours by 39.2% during the 4th quarter. Financial Architects Inc now owns 1,421 shares of the specialty chemicals company’s stock valued at $40,000 after acquiring an additional 400 shares in the last quarter. Gulf International Bank UK Ltd raised its stake in Chemours by 1.0% during the 1st quarter. Gulf International Bank UK Ltd now owns 40,350 shares of the specialty chemicals company’s stock valued at $1,499,000 after acquiring an additional 400 shares in the last quarter. TCI Wealth Advisors Inc. raised its stake in Chemours by 27.5% during the 1st quarter. TCI Wealth Advisors Inc. now owns 1,916 shares of the specialty chemicals company’s stock valued at $71,000 after acquiring an additional 413 shares in the last quarter. Finally, Crossmark Global Holdings Inc. raised its stake in Chemours by 2.2% during the 1st quarter. Crossmark Global Holdings Inc. now owns 23,040 shares of the specialty chemicals company’s stock valued at $856,000 after acquiring an additional 500 shares in the last quarter. 81.32% of the stock is currently owned by hedge funds and other institutional investors.

Chemours Company Profile

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, Fluoroproducts, and Chemical Solutions. The Titanium Technologies segment manufactures and sells titanium dioxide under the Ti-Pure and BaiMax brands for various applications in architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride window profiles, laminate papers used for furniture and building materials, and coated papers and paperboards used for packaging.

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Analyst Recommendations for Chemours (NYSE:CC)

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