Chemours (NYSE:CC) Price Target Raised to $18.00 at The Goldman Sachs Group

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

Other analysts also recently issued research reports about the stock. Mizuho set a $17.00 price target on shares of Chemours in a research note on Monday. UBS Group raised their price objective on Chemours from $18.00 to $23.00 and gave the stock a “buy” rating in a report on Monday. Morgan Stanley upped their target price on Chemours from $15.00 to $17.00 and gave the stock an “equal weight” rating in a report on Monday. Royal Bank Of Canada reissued an “outperform” rating and set a $18.00 price target on shares of Chemours in a research report on Friday, January 16th. Finally, BMO Capital Markets cut their price target on Chemours from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Chemours currently has an average rating of “Hold” and a consensus price target of $18.00.

Chemours Stock Down 2.1%

NYSE:CC opened at $18.02 on Wednesday. The company has a market cap of $2.70 billion, a price-to-earnings ratio of -7.26 and a beta of 1.63. Chemours has a twelve month low of $9.13 and a twelve month high of $21.85. The company has a current ratio of 1.78, a quick ratio of 0.85 and a debt-to-equity ratio of 16.33. The stock has a fifty day simple moving average of $15.63 and a 200-day simple moving average of $14.58.

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

Chemours Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be given a $0.0875 dividend. This represents a $0.35 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, February 27th. Chemours’s payout ratio is presently -14.11%.

Institutional Investors Weigh In On Chemours

A number of institutional investors have recently added to or reduced their stakes in CC. Oregon Public Employees Retirement Fund raised 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 worth $404,000 after purchasing an additional 600 shares in the last quarter. Amalgamated Bank grew its position 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 worth $689,000 after buying an additional 740 shares during the last quarter. PFG Investments LLC raised its stake in shares of Chemours by 7.6% during the 4th quarter. PFG Investments LLC now owns 12,494 shares of the specialty chemicals company’s stock worth $147,000 after acquiring an additional 883 shares in the last quarter. State of Alaska Department of Revenue lifted its position 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 valued at $899,000 after acquiring an additional 932 shares during the last quarter. Finally, Man Group plc boosted its stake in Chemours by 0.4% in 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. Institutional investors own 76.26% of the company’s stock.

About Chemours

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.