Chemours (NYSE:CC) PT Lowered to $22.00 at Barclays

Chemours (NYSE:CC) had its target price lowered by Barclays from $30.00 to $22.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has an equal weight rating on the specialty chemicals company’s stock.

A number of other brokerages have also recently commented on CC. BMO Capital Markets dropped their target price on Chemours from $35.00 to $30.00 and set an outperform rating for the company in a report on Tuesday. UBS Group raised shares of Chemours from a neutral rating to a buy rating and lifted their price objective for the stock from $28.00 to $30.00 in a research note on Tuesday, July 9th. Finally, Mizuho initiated coverage on shares of Chemours in a research report on Friday, June 7th. They set a neutral rating and a $25.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Chemours currently has a consensus rating of Hold and a consensus target price of $27.63.

Chemours Price Performance

CC traded down $0.14 during trading hours on Tuesday, hitting $18.12. The company’s stock had a trading volume of 1,865,996 shares, compared to its average volume of 1,629,186. Chemours has a 12 month low of $15.10 and a 12 month high of $36.05. The company has a current ratio of 1.61, a quick ratio of 0.99 and a debt-to-equity ratio of 5.26. The business’s 50-day moving average price is $23.05 and its 200-day moving average price is $25.98. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of -8.35 and a beta of 1.80.

Chemours (NYSE:CC) last announced its earnings results on Thursday, August 1st. The specialty chemicals company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.19). The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Chemours had a net margin of 2.16% and a return on equity of 32.93%. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.10 earnings per share. Sell-side analysts expect that Chemours will post 1.81 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 15th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.52%. The ex-dividend date of this dividend is Thursday, August 15th. Chemours’s payout ratio is presently -46.08%.

Institutional Investors Weigh In On Chemours

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC purchased a new stake in shares of Chemours in the 4th quarter worth $25,000. New Covenant Trust Company N.A. bought a new position in Chemours during the 1st quarter worth about $29,000. North Star Investment Management Corp. increased its position in Chemours by 1,510.0% during the 1st quarter. North Star Investment Management Corp. now owns 1,288 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 1,208 shares during the period. Morton Brown Family Wealth LLC purchased a new position in Chemours during the 4th quarter valued at about $35,000. Finally, Sunbelt Securities Inc. raised its holdings in shares of Chemours by 1,969.7% in the 1st quarter. Sunbelt Securities Inc. now owns 1,366 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 1,300 shares in the last quarter. Institutional investors 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.