Barclays Forecasts Strong Price Appreciation for Chemours (NYSE:CC) Stock

Chemours (NYSE:CC) had its target price boosted by Barclays from $21.00 to $23.00 in a report issued on Tuesday, Benzinga reports. They currently have an equal weight rating on the specialty chemicals company’s stock.

CC has been the topic of several other reports. UBS Group lowered their price objective on shares of Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. BMO Capital Markets boosted their price target on shares of Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Royal Bank of Canada lowered their price target on shares of Chemours from $35.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, October 11th. JPMorgan Chase & Co. lowered 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. Finally, The Goldman Sachs Group lowered their price target on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, September 3rd. Five 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 has a consensus rating of “Hold” and a consensus price target of $25.25.

Chemours Trading Down 3.4 %

Chemours stock opened at $19.88 on Tuesday. Chemours has a 1 year low of $15.10 and a 1 year high of $32.70. The company has a debt-to-equity ratio of 5.45, a quick ratio of 1.01 and a current ratio of 1.89. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 39.75 and a beta of 1.75. The firm’s 50 day moving average price is $18.97 and its two-hundred day moving average price is $22.19.

Chemours (NYSE:CC) last posted its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.08. Chemours had a net margin of 2.16% and a return on equity of 33.21%. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the previous year, the company posted $0.64 EPS. The company’s quarterly revenue was up .9% compared to the same quarter last year. On average, research analysts predict that Chemours will post 1.32 EPS for the current fiscal year.

Chemours Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date of this dividend is Friday, November 15th. Chemours’s dividend payout ratio is 200.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp lifted its position in Chemours by 169.3% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 35,105 shares of the specialty chemicals company’s stock worth $1,009,000 after acquiring an additional 22,067 shares during the last quarter. Khrom Capital Management LLC lifted its position in Chemours by 54.6% during the 2nd quarter. Khrom Capital Management LLC now owns 3,456,626 shares of the specialty chemicals company’s stock worth $78,016,000 after acquiring an additional 1,220,967 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Chemours during the 1st quarter worth $1,764,000. Edgestream Partners L.P. acquired a new position in Chemours during the 1st quarter worth $1,228,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of Chemours during the 2nd quarter worth about $789,000. Institutional investors and hedge funds 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.