Chemours (NYSE:CC) Price Target Cut to $25.00 by Analysts at Morgan Stanley

Chemours (NYSE:CC) had its price target lowered by Morgan Stanley from $30.00 to $25.00 in a research report released on Tuesday, Benzinga reports. The brokerage currently has an equal weight rating on the specialty chemicals company’s stock.

CC has been the subject of a number of other reports. Barclays raised their price objective on Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday. Royal Bank of Canada cut their price objective on Chemours from $35.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, October 11th. The Goldman Sachs Group dropped their price target on Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, September 3rd. JPMorgan Chase & Co. dropped their price target on Chemours from $25.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Finally, BMO Capital Markets lifted their price target on Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $25.25.

Chemours Stock Down 3.4 %

Shares of CC stock opened at $19.88 on Tuesday. The firm has a fifty day moving average of $18.97 and a 200-day moving average of $22.19. The company has a quick ratio of 1.01, a current ratio of 1.89 and a debt-to-equity ratio of 5.45. Chemours has a 12-month low of $15.10 and a 12-month high of $32.70. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 39.75 and a beta of 1.75.

Chemours (NYSE:CC) last released its earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.44 billion. Chemours had a net margin of 2.16% and a return on equity of 33.21%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 earnings per share. As a group, equities research analysts predict that Chemours will post 1.32 earnings per share for the current fiscal year.

Chemours Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 5.03%. Chemours’s payout ratio is 200.00%.

Hedge Funds Weigh In On Chemours

Several hedge funds and other institutional investors have recently modified their holdings of the business. Khrom Capital Management LLC boosted its holdings in shares of Chemours by 156.7% during the 1st quarter. Khrom Capital Management LLC now owns 2,235,659 shares of the specialty chemicals company’s stock valued at $58,708,000 after acquiring an additional 1,364,634 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Chemours by 23.8% during the 2nd quarter. Marshall Wace LLP now owns 7,009,868 shares of the specialty chemicals company’s stock valued at $158,213,000 after acquiring an additional 1,347,710 shares in the last quarter. Forest Avenue Capital Management LP boosted its holdings in shares of Chemours by 236.9% during the 2nd quarter. Forest Avenue Capital Management LP now owns 845,728 shares of the specialty chemicals company’s stock valued at $19,088,000 after acquiring an additional 594,660 shares in the last quarter. American Century Companies Inc. lifted its holdings in Chemours by 26.7% during the 2nd quarter. American Century Companies Inc. now owns 1,811,957 shares of the specialty chemicals company’s stock worth $40,896,000 after buying an additional 382,100 shares during the period. Finally, Private Management Group Inc. lifted its holdings in Chemours by 72.0% during the 3rd quarter. Private Management Group Inc. now owns 785,809 shares of the specialty chemicals company’s stock worth $15,968,000 after buying an additional 329,037 shares during the period. 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.