Truist Financial Issues Pessimistic Forecast for Chemours (NYSE:CC) Stock Price

Chemours (NYSE:CC - Free Report) had its price objective decreased by Truist Financial from $27.00 to $22.00 in a research note issued to investors on Monday,Benzinga reports. Truist Financial currently has a buy rating on the specialty chemicals company's stock.

CC has been the topic of a number of other reports. The Goldman Sachs Group dropped their target price on shares of Chemours from $24.00 to $21.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Morgan Stanley dropped their price objective on Chemours from $25.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Monday, January 13th. Mizuho upgraded Chemours from a "neutral" rating to an "outperform" rating and set a $19.00 target price for the company in a research note on Thursday, March 27th. Barclays cut their price target on Chemours from $19.00 to $16.00 and set an "equal weight" rating for the company in a report on Tuesday, April 1st. Finally, BMO Capital Markets decreased their price objective on shares of Chemours from $34.00 to $27.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Chemours presently has a consensus rating of "Moderate Buy" and an average target price of $21.56.

Chemours Stock Up 3.1 %

Shares of NYSE CC traded up $0.35 during mid-day trading on Monday, hitting $11.37. The company had a trading volume of 1,640,388 shares, compared to its average volume of 1,834,480. The company has a current ratio of 1.68, a quick ratio of 0.92 and a debt-to-equity ratio of 6.70. The firm has a 50-day simple moving average of $13.83 and a two-hundred day simple moving average of $17.33. The company has a market capitalization of $1.70 billion, a PE ratio of 19.94 and a beta of 1.84. Chemours has a one year low of $9.33 and a one year high of $29.21.

Chemours (NYSE:CC - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. The company had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.37 billion. Chemours had a return on equity of 26.54% and a net margin of 1.51%. On average, equities analysts expect that Chemours will post 2.03 EPS for the current year.

Chemours Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.80%. The ex-dividend date of this dividend was Friday, February 28th. Chemours's dividend payout ratio (DPR) is 175.44%.

Hedge Funds Weigh In On Chemours

Several large investors have recently added to or reduced their stakes in CC. Norges Bank purchased a new stake in Chemours in the 4th quarter valued at $30,702,000. Bank of Montreal Can boosted its holdings in Chemours by 1,496.4% during the 4th quarter. Bank of Montreal Can now owns 953,240 shares of the specialty chemicals company's stock worth $16,110,000 after acquiring an additional 893,530 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Chemours by 23.8% in the 4th quarter. Ameriprise Financial Inc. now owns 4,373,172 shares of the specialty chemicals company's stock worth $73,907,000 after acquiring an additional 839,849 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Chemours by 44.6% in the fourth quarter. Millennium Management LLC now owns 2,507,262 shares of the specialty chemicals company's stock valued at $42,373,000 after purchasing an additional 773,537 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Chemours by 141.5% during the fourth quarter. Invesco Ltd. now owns 1,020,001 shares of the specialty chemicals company's stock valued at $17,238,000 after purchasing an additional 597,638 shares in the last quarter. Institutional investors own 76.26% of the company's stock.

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, 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.