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

Chemours (NYSE:CC) had its target price dropped by equities researchers at Mizuho from $30.00 to $25.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the specialty chemicals company’s stock. Mizuho’s price objective indicates a potential upside of 21.76% from the company’s previous close.

CC has been the subject of several other reports. Morgan Stanley increased their price objective on Chemours from $17.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Royal Bank Of Canada upped their price target on Chemours from $26.00 to $29.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. UBS Group increased their price target on Chemours from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. JPMorgan Chase & Co. lifted their price objective on Chemours from $17.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, May 21st. Finally, Alembic Global Advisors reaffirmed an “overweight” rating and set a $30.00 price objective on shares of Chemours in a report on Wednesday, May 13th. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $24.10.

Chemours Stock Up 1.3%

CC opened at $20.53 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 1.82 and a debt-to-equity ratio of 18.98. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of -7.78 and a beta of 1.39. Chemours has a twelve month low of $10.44 and a twelve month high of $28.67. The company’s 50-day moving average price is $22.76 and its two-hundred day moving average price is $19.15.

Chemours (NYSE:CC) last issued its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.10. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.40 billion. Chemours had a negative net margin of 6.82% and a positive return on equity of 52.49%. Chemours’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 EPS. As a group, equities analysts expect that Chemours will post 1.07 earnings per share for the current year.

Hedge Funds Weigh In On Chemours

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Chemours by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 17,920,868 shares of the specialty chemicals company’s stock valued at $211,287,000 after purchasing an additional 490,778 shares during the period. State Street Corp grew its holdings in Chemours by 22.7% during the 2nd quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company’s stock valued at $70,009,000 after buying an additional 1,131,682 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Chemours by 13.8% during the third quarter. Ameriprise Financial Inc. now owns 4,796,153 shares of the specialty chemicals company’s stock valued at $75,971,000 after buying an additional 580,089 shares during the period. UBS Group AG increased its position in shares of Chemours by 0.3% during the third quarter. UBS Group AG now owns 4,754,492 shares of the specialty chemicals company’s stock valued at $75,311,000 after buying an additional 14,865 shares during the period. Finally, Cooper Creek Partners Management LLC purchased a new stake in shares of Chemours in the third quarter worth about $63,103,000. 76.26% of the stock is owned by institutional investors.

Chemours Company Profile

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.