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

by · The Cerbat Gem

Chemours (NYSE:CC – Free Report) had its price objective lowered by Barclays from $19.00 to $16.00 in a report issued on Tuesday morning,Benzinga reports. Barclays currently has an equal weight rating on the specialty chemicals company’s stock.

Several other brokerages also recently issued reports on CC. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $25.00 price target on shares of Chemours in a report on Thursday, December 12th. Truist Financial initiated coverage on Chemours in a research note on Tuesday, January 28th. They issued a “buy” rating and a $27.00 target price on the stock. Mizuho raised Chemours from a “neutral” rating to an “outperform” rating and set a $19.00 price target for the company in a research report on Thursday, March 27th. Morgan Stanley reduced their price objective on Chemours from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Finally, The Goldman Sachs Group dropped their price objective on Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Chemours presently has a consensus rating of “Moderate Buy” and an average price target of $22.56.

Check Out Our Latest Analysis on Chemours

Chemours Stock Performance

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

Chemours (NYSE:CC – Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.37 billion. Chemours had a return on equity of 26.54% and a net margin of 1.51%. Sell-side analysts forecast that Chemours will post 2.03 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.76%. The ex-dividend date was Friday, February 28th. Chemours’s dividend payout ratio (DPR) is 175.44%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Chemours during the 4th quarter valued at $30,702,000. Vision One Management Partners LP acquired a new position in Chemours in the third quarter valued at $28,252,000. Bank of Montreal Can grew its position in Chemours by 1,496.4% during the fourth quarter. Bank of Montreal Can now owns 953,240 shares of the specialty chemicals company’s stock valued at $16,110,000 after acquiring an additional 893,530 shares during the period. Ameriprise Financial Inc. increased its stake in Chemours by 23.8% during the fourth quarter. Ameriprise Financial Inc. now owns 4,373,172 shares of the specialty chemicals company’s stock worth $73,907,000 after acquiring an additional 839,849 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Chemours by 44.6% in the 4th quarter. Millennium Management LLC now owns 2,507,262 shares of the specialty chemicals company’s stock worth $42,373,000 after purchasing an additional 773,537 shares during the period. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

About Chemours

(Get Free Report)

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.

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