Chemours (CC) Price Target Cut to $38.00

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Chemours (NYSE:CC) had its price objective cut by SunTrust Banks to $38.00 in a note issued to investors on Monday, The Fly reports. The firm currently has a “hold” rating on the specialty chemicals company’s stock. SunTrust Banks’ price objective indicates a potential upside of 11.83% from the stock’s current price. SunTrust Banks also issued estimates for Chemours’ Q4 2018 earnings at $1.13 EPS, FY2018 earnings at $5.75 EPS and FY2019 earnings at $5.04 EPS.

Other research analysts have also issued research reports about the company. Royal Bank of Canada began coverage on Chemours in a research report on Wednesday, July 18th. They set an “outperform” rating and a $60.00 price objective for the company. Zacks Investment Research lowered Chemours from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 11th. ValuEngine lowered Chemours from a “hold” rating to a “sell” rating in a research report on Tuesday, July 10th. Citigroup reduced their price objective on Chemours from $61.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, October 11th. Finally, BMO Capital Markets reduced their price objective on Chemours from $70.00 to $68.00 and set an “outperform” rating for the company in a research report on Monday, August 6th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $52.60.

Shares of CC opened at $33.98 on Monday. The company has a market capitalization of $6.08 billion, a PE ratio of 8.90, a PEG ratio of 0.39 and a beta of 2.74. The company has a quick ratio of 1.39, a current ratio of 2.03 and a debt-to-equity ratio of 3.48. Chemours has a 52 week low of $31.34 and a 52 week high of $54.62.

Chemours (NYSE:CC) last issued its earnings results on Thursday, November 1st. The specialty chemicals company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.42 by $0.07. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.71 billion. Chemours had a return on equity of 106.98% and a net margin of 16.02%. The business’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.12 EPS. Equities analysts expect that Chemours will post 5.7 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the business. Benjamin F. Edwards & Company Inc. raised its stake in Chemours by 24.7% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 5,806 shares of the specialty chemicals company’s stock valued at $258,000 after acquiring an additional 1,150 shares in the last quarter. Virginia Retirement Systems ET AL raised its stake in Chemours by 7.1% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 21,200 shares of the specialty chemicals company’s stock valued at $940,000 after acquiring an additional 1,400 shares in the last quarter. IFM Investors Pty Ltd raised its stake in Chemours by 17.6% during the 3rd quarter. IFM Investors Pty Ltd now owns 9,578 shares of the specialty chemicals company’s stock valued at $378,000 after acquiring an additional 1,431 shares in the last quarter. DnB Asset Management AS raised its stake in Chemours by 9.0% during the 2nd quarter. DnB Asset Management AS now owns 18,100 shares of the specialty chemicals company’s stock valued at $803,000 after acquiring an additional 1,500 shares in the last quarter. Finally, GWM Advisors LLC raised its stake in Chemours by 5.6% during the 2nd quarter. GWM Advisors LLC now owns 33,991 shares of the specialty chemicals company’s stock valued at $1,493,000 after acquiring an additional 1,788 shares in the last quarter. 76.33% 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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