Mizuho Cuts Chemours (NYSE:CC) Price Target to $25.00

Chemours (NYSE:CC) had its price target reduced by investment analysts at Mizuho from $30.00 to $25.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the specialty chemicals company’s stock. Mizuho’s target price indicates a potential upside of 21.76% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. UBS Group upped their price objective on shares of Chemours from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. JPMorgan Chase & Co. raised their target price on shares of Chemours from $17.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, May 21st. Truist Financial upped their price target on shares of Chemours from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Royal Bank Of Canada increased their price target on Chemours from $26.00 to $29.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Chemours in a research report on Monday, April 20th. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Chemours presently has an average rating of “Hold” and an average price target of $24.10.

Chemours Trading Up 1.3%

Shares of CC opened at $20.53 on Wednesday. The company has a debt-to-equity ratio of 18.98, a quick ratio of 0.87 and a current ratio of 1.82. Chemours has a 52-week low of $10.44 and a 52-week high of $28.67. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of -7.78 and a beta of 1.39. The business’s fifty day moving average is $22.76 and its 200-day moving average is $19.15.

Chemours (NYSE:CC) last released its earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.10. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Chemours had a positive return on equity of 52.49% and a negative net margin of 6.82%.The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.13 earnings per share. Equities analysts anticipate that Chemours will post 1.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Chemours

Several institutional investors and hedge funds have recently added to or reduced their stakes in CC. Baird Financial Group Inc. purchased a new position in shares of Chemours in the 1st quarter worth approximately $148,000. Royal Bank of Canada increased its position in shares of Chemours by 6.8% during the first quarter. Royal Bank of Canada now owns 585,702 shares of the specialty chemicals company’s stock valued at $7,926,000 after acquiring an additional 37,382 shares during the last quarter. AQR Capital Management LLC purchased a new stake in shares of Chemours during the first quarter valued at approximately $161,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Chemours by 149.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,243 shares of the specialty chemicals company’s stock worth $593,000 after acquiring an additional 25,899 shares during the period. Finally, Empowered Funds LLC purchased a new position in Chemours in the first quarter worth $403,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

About Chemours

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.