Chemours (NYSE:CC) Price Target Raised to $18.00

Chemours (NYSE:CC) had its price target raised by The Goldman Sachs Group from $14.00 to $18.00 in a report released on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the specialty chemicals company’s stock.

A number of other research firms also recently commented on CC. JPMorgan Chase & Co. raised their target price on shares of Chemours from $13.00 to $17.00 and gave the company a “neutral” rating in a research report on Monday, February 23rd. UBS Group lifted their price objective on shares of Chemours from $18.00 to $23.00 and gave the company a “buy” rating in a report on Monday. BMO Capital Markets lowered their target price on Chemours from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Monday. Morgan Stanley lifted their price target on Chemours from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Monday. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $18.00 target price on shares of Chemours in a research note on Friday, January 16th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $18.00.

Chemours Price Performance

Shares of CC stock opened at $18.27 on Wednesday. The company has a market capitalization of $2.74 billion, a P/E ratio of -7.36 and a beta of 1.63. The company’s 50-day simple moving average is $15.86 and its two-hundred day simple moving average is $14.64. Chemours has a one year low of $9.13 and a one year high of $21.85. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.78 and a quick ratio of 0.85.

Chemours (NYSE:CC) last posted its quarterly earnings results on Thursday, February 19th. The specialty chemicals company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.04. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. Chemours had a negative net margin of 6.41% and a positive return on equity of 41.75%. The company’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 earnings per share. As a group, equities analysts anticipate that Chemours will post 2.03 EPS for the current year.

Chemours Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be issued a dividend of $0.0875 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.9%. Chemours’s payout ratio is -14.11%.

Institutional Trading of Chemours

Large investors have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund boosted its holdings in Chemours by 1.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 34,300 shares of the specialty chemicals company’s stock valued at $404,000 after purchasing an additional 600 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of Chemours by 1.7% in the 3rd quarter. Amalgamated Bank now owns 43,528 shares of the specialty chemicals company’s stock valued at $689,000 after buying an additional 740 shares during the period. PFG Investments LLC boosted its stake in shares of Chemours by 7.6% in the fourth quarter. PFG Investments LLC now owns 12,494 shares of the specialty chemicals company’s stock worth $147,000 after buying an additional 883 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in Chemours by 1.2% during the fourth quarter. State of Alaska Department of Revenue now owns 76,257 shares of the specialty chemicals company’s stock worth $899,000 after acquiring an additional 932 shares during the period. Finally, Man Group plc raised its position in Chemours by 0.4% during the second quarter. Man Group plc now owns 271,108 shares of the specialty chemicals company’s stock valued at $3,104,000 after acquiring an additional 979 shares in the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

Chemours Company Profile

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours’ principal business activities are organized into three core segments.