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

Chemours (NYSE:CC - Free Report) had its target price raised by Barclays from $21.00 to $23.00 in a research report report published on Tuesday morning, Benzinga reports. Barclays currently has an equal weight rating on the specialty chemicals company's stock.

Other equities analysts have also recently issued reports about the stock. The Goldman Sachs Group reduced their price objective on shares of Chemours from $29.00 to $23.00 and set a "neutral" rating for the company in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. dropped their target price on Chemours from $25.00 to $18.00 and set a "neutral" rating for the company in a report on Tuesday, August 6th. UBS Group dropped their target price on Chemours from $30.00 to $28.00 and set a "buy" rating for the company in a report on Tuesday, August 6th. Royal Bank of Canada dropped their target price on Chemours from $35.00 to $28.00 and set an "outperform" rating for the company in a report on Friday, October 11th. Finally, BMO Capital Markets lifted their target price on Chemours from $30.00 to $32.00 and gave the stock an "outperform" rating in a report on Monday, October 7th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Chemours has a consensus rating of "Hold" and a consensus price target of $25.25.

Chemours Stock Down 3.4 %

Shares of NYSE CC traded down $0.70 during midday trading on Tuesday, reaching $19.88. The company's stock had a trading volume of 2,168,320 shares, compared to its average volume of 1,575,375. The company has a current ratio of 1.89, a quick ratio of 1.01 and a debt-to-equity ratio of 5.45. Chemours has a fifty-two week low of $15.10 and a fifty-two week high of $32.70. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of 40.18 and a beta of 1.75. The stock has a 50 day simple moving average of $18.97 and a 200-day simple moving average of $22.19.

Chemours (NYSE:CC - Get Free Report) last released its earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.08. Chemours had a net margin of 2.16% and a return on equity of 33.21%. The business had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.44 billion. During the same period last year, the business earned $0.64 earnings per share. The firm's revenue was up .9% on a year-over-year basis. Equities research 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. Investors of record on Friday, November 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date is Friday, November 15th. Chemours's dividend payout ratio (DPR) is presently 200.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP lifted its holdings in shares of Chemours by 23.8% in the second quarter. Marshall Wace LLP now owns 7,009,868 shares of the specialty chemicals company's stock worth $158,213,000 after acquiring an additional 1,347,710 shares during the last quarter. Khrom Capital Management LLC lifted its holdings in shares of Chemours by 54.6% in the second quarter. Khrom Capital Management LLC now owns 3,456,626 shares of the specialty chemicals company's stock worth $78,016,000 after acquiring an additional 1,220,967 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Chemours by 6.8% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,824,301 shares of the specialty chemicals company's stock worth $63,744,000 after acquiring an additional 178,625 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Chemours by 26.7% in the second quarter. American Century Companies Inc. now owns 1,811,957 shares of the specialty chemicals company's stock worth $40,896,000 after acquiring an additional 382,100 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Chemours by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 1,606,453 shares of the specialty chemicals company's stock worth $36,258,000 after acquiring an additional 22,209 shares during the last quarter. Institutional investors and hedge funds 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.