Chemours (NYSE:CC) Price Target Cut to $16.00 by Analysts at Barclays

Chemours (NYSE:CC) had its target price reduced by Barclays from $19.00 to $16.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Barclays currently has an equal weight rating on the specialty chemicals company’s stock.

Other equities analysts have also recently issued research reports about the stock. Mizuho raised shares of Chemours from a “neutral” rating to an “outperform” rating and set a $19.00 price objective for the company in a research note on Thursday, March 27th. Truist Financial initiated coverage on shares of Chemours in a research report on Tuesday, January 28th. They set a “buy” rating and a $27.00 price target for the company. BMO Capital Markets lowered their price objective on Chemours from $34.00 to $27.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Royal Bank of Canada reissued an “outperform” rating and set a $25.00 price objective on shares of Chemours in a research note on Thursday, December 12th. Finally, Morgan Stanley decreased their target price on Chemours from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Chemours currently has a consensus rating of “Moderate Buy” and an average price target of $22.56.

Chemours Stock Down 4.2 %

CC opened at $12.96 on Tuesday. Chemours has a 12 month low of $12.73 and a 12 month high of $29.21. The company has a market cap of $1.94 billion, a PE ratio of 22.73 and a beta of 2.00. The company has a current ratio of 1.68, a quick ratio of 0.92 and a debt-to-equity ratio of 6.70. The company has a 50 day moving average of $16.15 and a 200 day moving average of $18.15.

Chemours (NYSE:CC) last posted its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. Chemours had a return on equity of 26.54% and a net margin of 1.51%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.37 billion. On average, sell-side analysts expect that Chemours will post 2.03 EPS for the current year.

Chemours Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.72%. The ex-dividend date was Friday, February 28th. Chemours’s payout ratio is currently 175.44%.

Hedge Funds Weigh In On Chemours

Large investors have recently modified their holdings of the company. Corient Private Wealth LLC raised its position in Chemours by 4.7% in the 4th quarter. Corient Private Wealth LLC now owns 13,428 shares of the specialty chemicals company’s stock worth $227,000 after purchasing an additional 604 shares during the period. GAMMA Investing LLC increased its holdings in shares of Chemours by 99.7% in 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 during the period. HUB Investment Partners LLC increased its holdings in shares of Chemours by 1.4% in the fourth quarter. HUB Investment Partners LLC now owns 58,250 shares of the specialty chemicals company’s stock worth $984,000 after buying an additional 821 shares during the period. Itau Unibanco Holding S.A. lifted its stake in shares of Chemours by 39.3% in the 4th quarter. Itau Unibanco Holding S.A. now owns 3,554 shares of the specialty chemicals company’s stock valued at $60,000 after acquiring an additional 1,003 shares during the last quarter. Finally, ARGA Investment Management LP boosted its holdings in Chemours by 0.7% during the 4th quarter. ARGA Investment Management LP now owns 148,614 shares of the specialty chemicals company’s stock valued at $2,512,000 after acquiring an additional 1,032 shares during the period. 76.26% of the stock is owned by hedge funds and other 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.