Chemours (NYSE:CC) Given New $21.00 Price Target at Barclays

Chemours (NYSE:CC) had its price target reduced by Barclays from $22.00 to $21.00 in a research note released on Wednesday, Benzinga reports. Barclays currently has an equal weight rating on the specialty chemicals company’s stock.

Several other research firms have also issued reports on CC. Mizuho started coverage on Chemours in a research report on Friday, June 7th. They issued a neutral rating and a $25.00 price target for the company. UBS Group decreased their target price on shares of Chemours from $30.00 to $28.00 and set a buy rating for the company in a report on Tuesday, August 6th. JPMorgan Chase & Co. cut their price target on shares of Chemours from $25.00 to $18.00 and set a neutral rating on the stock in a report on Tuesday, August 6th. BMO Capital Markets reduced their price target on shares of Chemours from $35.00 to $30.00 and set an outperform rating for the company in a research report on Tuesday, August 6th. Finally, The Goldman Sachs Group lowered their price objective on Chemours from $29.00 to $23.00 and set a neutral rating on the stock in a research report on Tuesday, September 3rd. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $26.63.

Chemours Price Performance

Shares of CC opened at $20.72 on Wednesday. Chemours has a fifty-two week low of $15.10 and a fifty-two week high of $32.70. The firm’s 50-day simple moving average is $19.57 and its two-hundred day simple moving average is $23.68. The stock has a market cap of $3.09 billion, a PE ratio of -9.55 and a beta of 1.74. The company has a debt-to-equity ratio of 5.45, a quick ratio of 1.01 and a current ratio of 1.89.

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

Chemours Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 4.83%. Chemours’s dividend payout ratio is presently -46.08%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. New Covenant Trust Company N.A. purchased a new stake in shares of Chemours during the 1st quarter valued at about $29,000. North Star Investment Management Corp. increased its holdings in Chemours by 1,510.0% during the first quarter. North Star Investment Management Corp. now owns 1,288 shares of the specialty chemicals company’s stock valued at $34,000 after buying an additional 1,208 shares during the last quarter. Sunbelt Securities Inc. raised its position in Chemours by 1,969.7% in the first quarter. Sunbelt Securities Inc. now owns 1,366 shares of the specialty chemicals company’s stock worth $36,000 after acquiring an additional 1,300 shares during the period. Neo Ivy Capital Management bought a new position in Chemours in the fourth quarter worth approximately $40,000. Finally, Headlands Technologies LLC purchased a new position in shares of Chemours during the 1st quarter worth $42,000. Institutional investors own 76.26% of the company’s stock.

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.