Barclays Cuts Chemours (NYSE:CC) Price Target to $19.00

Chemours (NYSE:CC) had its target price cut by Barclays from $23.00 to $19.00 in a research report report published on Monday morning,Benzinga reports. They currently have an equal weight rating on the specialty chemicals company’s stock.

A number of other analysts also recently weighed in on CC. Mizuho decreased their price objective on Chemours from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. The Goldman Sachs Group decreased their price target on Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. BMO Capital Markets cut their price objective on Chemours from $34.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Morgan Stanley decreased their target price on shares of Chemours from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $25.00 price target on shares of Chemours in a research report on Thursday, December 12th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $23.11.

Chemours Trading Up 1.3 %

Shares of CC stock opened at $16.00 on Monday. Chemours has a twelve month low of $14.94 and a twelve month high of $29.44. The stock’s fifty day simple moving average is $17.96 and its 200 day simple moving average is $18.87. The company has a quick ratio of 0.92, a current ratio of 1.68 and a debt-to-equity ratio of 6.70. The firm has a market capitalization of $2.39 billion, a P/E ratio of 28.07 and a beta of 1.81.

Chemours (NYSE:CC) last released its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. Chemours had a return on equity of 26.54% and a net margin of 1.51%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.37 billion. As a group, sell-side analysts predict that Chemours will post 2.03 EPS for the current fiscal year.

Chemours Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.25%. The ex-dividend date is Friday, February 28th. Chemours’s dividend payout ratio (DPR) is 175.44%.

Institutional Investors Weigh In On Chemours

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. raised its stake in shares of Chemours by 166.9% in the third quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 731 shares during the last quarter. GAMMA Investing LLC grew its holdings in Chemours by 99.7% during the fourth quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 765 shares in the last quarter. Truvestments Capital LLC purchased a new stake in Chemours in the 3rd quarter valued at $35,000. Brooklyn Investment Group bought a new position in Chemours during the 3rd quarter valued at $37,000. Finally, Signaturefd LLC boosted its holdings in Chemours by 163.7% during the 3rd quarter. Signaturefd LLC now owns 1,959 shares of the specialty chemicals company’s stock worth $40,000 after acquiring an additional 1,216 shares during the last quarter. 76.26% of the stock is owned by 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, 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.