Barclays Trims Chemours (NYSE:CC) Target Price to $21.00

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

Other analysts have also recently issued reports about the company. The Goldman Sachs Group cut 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. BMO Capital Markets reduced their price target on Chemours from $35.00 to $30.00 and set an outperform rating on the stock in a research note on Tuesday, August 6th. JPMorgan Chase & Co. decreased their price objective on Chemours from $25.00 to $18.00 and set a neutral rating for the company in a report on Tuesday, August 6th. Mizuho initiated coverage on shares of Chemours in a report on Friday, June 7th. They set a neutral rating and a $25.00 target price on the stock. Finally, UBS Group decreased their price target on shares of Chemours from $30.00 to $28.00 and set a buy rating for the company in a research note on Tuesday, August 6th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $26.63.

Chemours Price Performance

CC opened at $20.71 on Wednesday. The stock’s 50 day moving average price is $19.57 and its 200-day moving average price is $23.69. Chemours has a 52-week low of $15.10 and a 52-week high of $32.70. The stock has a market capitalization of $3.08 billion, a PE ratio of -9.54 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 issued its quarterly earnings data on Thursday, August 1st. The specialty chemicals company reported $0.38 EPS 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 the consensus estimate of $1.53 billion. Chemours had a return on equity of 33.21% and a net margin of 2.16%. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.10 earnings per share. On average, equities research analysts predict that Chemours will post 1.33 EPS for the current year.

Chemours Announces Dividend

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

Institutional Trading of Chemours

A number of institutional investors and hedge funds have recently bought and sold shares of CC. Norges Bank purchased a new stake in Chemours during the 4th quarter valued at $39,171,000. Corient Private Wealth LLC boosted its position in shares of Chemours by 32.1% during the fourth quarter. Corient Private Wealth LLC now owns 20,004 shares of the specialty chemicals company’s stock valued at $631,000 after buying an additional 4,866 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Chemours during the fourth quarter valued at $1,376,000. United Services Automobile Association increased its holdings in Chemours by 12.6% in the 4th quarter. United Services Automobile Association now owns 12,760 shares of the specialty chemicals company’s stock worth $402,000 after buying an additional 1,432 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its position in Chemours by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 65,924 shares of the specialty chemicals company’s stock worth $2,079,000 after buying an additional 640 shares during the last quarter. 76.26% of the stock is currently owned by institutional investors.

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.