Barclays Cuts Chemours (NYSE:CC) Price Target to $16.00

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

A number of other analysts have also weighed in on the stock. Mizuho upgraded shares of Chemours from a “neutral” rating to an “outperform” rating and set a $19.00 price objective on the stock in a research note on Thursday, March 27th. The Goldman Sachs Group reduced their price objective on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. BMO Capital Markets reduced their target price on Chemours from $34.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Morgan Stanley decreased their price target on shares of Chemours from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Finally, Truist Financial began coverage on Chemours in a research note on Tuesday, January 28th. They set a “buy” rating and a $27.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.56.

Chemours Stock Down 12.6 %

Shares of CC stock opened at $11.42 on Tuesday. The stock’s fifty day moving average price is $15.85 and its 200 day moving average price is $18.07. The company has a debt-to-equity ratio of 6.70, a current ratio of 1.68 and a quick ratio of 0.92. Chemours has a 1-year low of $11.34 and a 1-year high of $29.21. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 20.03 and a beta of 1.84.

Chemours (NYSE:CC) last released its earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.37 billion. Chemours had a net margin of 1.51% and a return on equity of 26.54%. On average, research analysts expect that Chemours will post 2.03 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.25 per share. The ex-dividend date was Friday, February 28th. This represents a $1.00 annualized dividend and a dividend yield of 8.76%. Chemours’s dividend payout ratio is currently 175.44%.

Hedge Funds Weigh In On Chemours

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

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.