Chemours (NYSE:CC) Price Target Raised to $23.00

Chemours (NYSE:CC) had its target price increased by Barclays from $21.00 to $23.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the specialty chemicals company’s stock.

A number of other research analysts have also recently issued reports on the stock. UBS Group lowered their price target on shares of Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Royal Bank of Canada cut their price target on Chemours from $35.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, October 11th. JPMorgan Chase & Co. dropped their target price on 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 raised their price target on Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Finally, The Goldman Sachs Group cut their price objective on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 3rd. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $24.88.

Chemours Trading Down 4.4 %

NYSE:CC traded down $0.89 during mid-day trading on Tuesday, reaching $19.56. 184,577 shares of the company’s stock traded hands, compared to its average volume of 1,575,667. The company has a debt-to-equity ratio of 6.05, a current ratio of 1.73 and a quick ratio of 1.01. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of 40.90 and a beta of 1.75. The company has a 50 day moving average price of $19.03 and a 200-day moving average price of $22.12. Chemours has a 12-month low of $15.10 and a 12-month high of $32.70.

Chemours (NYSE:CC) last issued its quarterly earnings results 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. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Chemours had a return on equity of 29.48% and a net margin of 1.34%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 earnings per share. On average, sell-side analysts predict that Chemours will post 1.32 earnings per share for the current year.

Chemours Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.11%. Chemours’s dividend payout ratio is presently 200.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Matrix Trust Co purchased a new position in Chemours in the third quarter worth about $25,000. Blue Trust Inc. grew its position in Chemours by 166.9% during the third quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 731 shares during the period. New Covenant Trust Company N.A. purchased a new stake in Chemours during the first quarter valued at approximately $29,000. Signaturefd LLC boosted its stake in shares of Chemours by 163.7% during the 3rd quarter. Signaturefd LLC now owns 1,959 shares of the specialty chemicals company’s stock worth $40,000 after acquiring an additional 1,216 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Chemours during the 1st quarter valued at $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.