Chemours (NYSE:CC) Price Target Lowered to $23.00 at The Goldman Sachs Group

Chemours (NYSE:CC) had its price objective trimmed by The Goldman Sachs Group from $29.00 to $23.00 in a research report sent to investors on Tuesday, Benzinga reports. The firm currently has a neutral rating on the specialty chemicals company’s stock.

Several other equities research analysts also recently issued reports on the company. UBS Group cut their price target on Chemours from $30.00 to $28.00 and set a buy rating for the company in a report on Tuesday, August 6th. BMO Capital Markets decreased their target price on Chemours from $35.00 to $30.00 and set an outperform rating on the stock in a research report on Tuesday, August 6th. Mizuho assumed coverage on Chemours in a research note on Friday, June 7th. They issued a neutral rating and a $25.00 price target for the company. JPMorgan Chase & Co. reduced their target price on shares of Chemours from $25.00 to $18.00 and set a neutral rating for the company in a research report on Tuesday, August 6th. Finally, Barclays dropped their price objective on shares of Chemours from $30.00 to $22.00 and set an equal weight rating for the company in a research note on Tuesday, August 6th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $26.75.

Chemours Trading Down 4.2 %

NYSE CC opened at $18.63 on Tuesday. The company has a market cap of $2.77 billion, a PE ratio of -8.59 and a beta of 1.80. Chemours has a 12 month low of $15.10 and a 12 month high of $34.51. The stock has a 50 day moving average of $21.34 and a 200-day moving average of $24.59. The company has a current ratio of 1.89, a quick ratio of 1.01 and a debt-to-equity ratio of 5.45.

Chemours (NYSE:CC) last issued its earnings results on Thursday, August 1st. The specialty chemicals company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.19). Chemours had a net margin of 2.16% and a return on equity of 33.21%. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the company posted $1.10 earnings per share. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. On average, equities research analysts anticipate that Chemours will post 1.33 EPS for the current fiscal year.

Chemours Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 15th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.37%. The ex-dividend date is Thursday, August 15th. Chemours’s dividend payout ratio (DPR) is currently -46.08%.

Institutional Trading of Chemours

Several institutional investors have recently modified their holdings of CC. William B. Walkup & Associates Inc. bought a new position in Chemours during the second quarter worth $107,000. Scientech Research LLC acquired a new stake in Chemours during the second quarter worth approximately $357,000. Mackenzie Financial Corp increased its holdings in Chemours by 16.4% in the second quarter. Mackenzie Financial Corp now owns 877,246 shares of the specialty chemicals company’s stock worth $19,799,000 after purchasing an additional 123,418 shares in the last quarter. AQR Capital Management LLC increased its holdings in Chemours by 28.1% in the second quarter. AQR Capital Management LLC now owns 158,585 shares of the specialty chemicals company’s stock worth $3,579,000 after purchasing an additional 34,817 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in Chemours in the second quarter valued at approximately $789,000. Institutional investors own 76.26% of the company’s stock.

About Chemours

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.