Chemours (NYSE:CC) Price Target Cut to $19.00 by Analysts at Barclays

Chemours (NYSE:CC) had its price objective lowered by Barclays from $23.00 to $19.00 in a report published on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the specialty chemicals company’s stock.

Several other research analysts also recently commented on the stock. The Goldman Sachs Group lowered their price objective on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Mizuho dropped their price objective on Chemours from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Truist Financial started coverage on Chemours in a research note on Tuesday, January 28th. They issued a “buy” rating and a $27.00 price objective on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $25.00 target price on shares of Chemours in a research note on Thursday, December 12th. Finally, Morgan Stanley reduced their price target on shares of Chemours from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Chemours has a consensus rating of “Hold” and a consensus target price of $23.11.

Chemours Stock Performance

NYSE:CC opened at $16.19 on Monday. The company has a market cap of $2.42 billion, a price-to-earnings ratio of 28.40 and a beta of 1.81. Chemours has a fifty-two week low of $15.10 and a fifty-two week high of $29.59. The company has a debt-to-equity ratio of 6.70, a quick ratio of 0.92 and a current ratio of 1.68. The stock has a fifty day moving average price of $18.03 and a 200-day moving average price of $18.91.

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

Chemours Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, February 28th. This represents a $1.00 annualized dividend and a yield of 6.18%. Chemours’s dividend payout ratio is presently 175.44%.

Hedge Funds Weigh In On Chemours

Several large investors have recently modified their holdings of CC. Strategic Financial Concepts LLC acquired a new stake in Chemours in the fourth quarter valued at $357,000. Vision One Management Partners LP bought a new stake in shares of Chemours in the 3rd quarter valued at about $28,252,000. Two Sigma Advisers LP increased its stake in shares of Chemours by 9.4% in the third quarter. Two Sigma Advisers LP now owns 503,100 shares of the specialty chemicals company’s stock valued at $10,223,000 after buying an additional 43,200 shares during the period. Entropy Technologies LP bought a new position in shares of Chemours during the fourth quarter worth about $266,000. Finally, Twelve Points Wealth Management LLC lifted its stake in shares of Chemours by 42.8% in the fourth quarter. Twelve Points Wealth Management LLC now owns 78,325 shares of the specialty chemicals company’s stock worth $1,324,000 after acquiring an additional 23,490 shares during the period. 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.