Chemours (NYSE:CC) PT Lowered to $23.00 at The Goldman Sachs Group

Chemours (NYSE:CC) had its price target lowered by The Goldman Sachs Group from $29.00 to $23.00 in a research note released on Tuesday, Benzinga reports. The brokerage currently has a neutral rating on the specialty chemicals company’s stock.

A number of other equities analysts also recently weighed in on CC. Barclays decreased their target price on shares of Chemours from $30.00 to $22.00 and set an equal weight rating for the company in a research note on Tuesday, August 6th. JPMorgan Chase & Co. decreased their target price on shares of Chemours from $25.00 to $18.00 and set a neutral rating for the company in a research note on Tuesday, August 6th. UBS Group decreased their target price on shares of Chemours from $30.00 to $28.00 and set a buy rating for the company in a research note on Tuesday, August 6th. Mizuho initiated coverage on shares of Chemours in a research note on Friday, June 7th. They set a neutral rating and a $25.00 target price for the company. Finally, BMO Capital Markets reduced their price target on shares of Chemours from $35.00 to $30.00 and set an outperform rating for the company in a research report on Tuesday, August 6th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Chemours has an average rating of Hold and an average price target of $26.75.

Chemours Price Performance

CC stock opened at $17.47 on Tuesday. Chemours has a 1 year low of $15.10 and a 1 year high of $33.17. The company has a market cap of $2.60 billion, a P/E ratio of -8.05 and a beta of 1.80. The firm has a 50-day moving average of $21.05 and a 200 day moving average of $24.43. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.89 and a quick ratio of 1.01.

Chemours (NYSE:CC) last released its quarterly earnings results on Thursday, August 1st. The specialty chemicals company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.19). Chemours had a return on equity of 33.21% and a net margin of 2.16%. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the company earned $1.10 earnings per share. Chemours’s quarterly revenue was down 6.4% on a year-over-year basis. On average, sell-side analysts forecast that Chemours will post 1.33 EPS for the current year.

Chemours Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.72%. The ex-dividend date of this dividend is Thursday, August 15th. Chemours’s dividend payout ratio is currently -46.08%.

Institutional Investors Weigh In On Chemours

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. New Covenant Trust Company N.A. purchased a new stake in Chemours in the first quarter worth approximately $29,000. Neo Ivy Capital Management purchased a new position in shares of Chemours during the 4th quarter worth $40,000. North Star Investment Management Corp. boosted its stake in shares of 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 worth $34,000 after acquiring an additional 1,208 shares during the last quarter. Sunbelt Securities Inc. boosted its stake in shares of Chemours by 1,969.7% during the 1st quarter. Sunbelt Securities Inc. now owns 1,366 shares of the specialty chemicals company’s stock worth $36,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Chemours during the 1st quarter worth $42,000. Hedge funds and other 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.