Morgan Stanley Cuts Chemours (NYSE:CC) Price Target to $25.00

Chemours (NYSE:CC) had its target price reduced by Morgan Stanley from $30.00 to $25.00 in a report published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the specialty chemicals company’s stock.

Other analysts also recently issued research reports about the stock. Royal Bank of Canada lowered their price objective on shares of Chemours from $35.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, October 11th. Barclays lifted their price target on shares of Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday. UBS Group decreased their price objective on shares of Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. JPMorgan Chase & Co. lowered their target price on Chemours from $25.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Finally, The Goldman Sachs Group cut their price target on Chemours from $29.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 3rd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $24.88.

Chemours Price Performance

CC traded down $0.89 on Tuesday, hitting $19.56. 184,577 shares of the company were exchanged, compared to its average volume of 1,575,667. The business’s fifty day moving average is $19.03 and its 200 day moving average is $22.12. Chemours has a fifty-two week low of $15.10 and a fifty-two week high of $32.70. The company has a debt-to-equity ratio of 6.05, a quick ratio of 1.01 and a current ratio of 1.73. The firm has a market capitalization of $2.92 billion, a P/E ratio of 40.90 and a beta of 1.75.

Chemours (NYSE:CC) last posted its earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.44 billion. Chemours had a return on equity of 29.48% and a net margin of 1.34%. Chemours’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 earnings per share. As a group, sell-side analysts anticipate that Chemours will post 1.32 EPS for the current year.

Chemours Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 5.11%. Chemours’s dividend payout ratio is currently 200.00%.

Institutional Trading of Chemours

Several hedge funds have recently bought and sold shares of CC. Norden Group LLC bought a new stake in Chemours during the 1st quarter valued at $201,000. BNP Paribas Financial Markets lifted its stake in shares of Chemours by 53.0% in the 1st quarter. BNP Paribas Financial Markets now owns 14,340 shares of the specialty chemicals company’s stock worth $377,000 after acquiring an additional 4,965 shares during the period. Texas Permanent School Fund Corp increased its stake in shares of Chemours by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 129,762 shares of the specialty chemicals company’s stock valued at $3,408,000 after acquiring an additional 1,736 shares during the period. Quantbot Technologies LP acquired a new stake in Chemours in the first quarter worth approximately $1,471,000. Finally, Swiss National Bank increased its position in shares of Chemours by 0.4% during the 1st quarter. Swiss National Bank now owns 293,100 shares of the specialty chemicals company’s stock valued at $7,697,000 after purchasing an additional 1,300 shares during the period. 76.26% of the stock is currently owned by institutional investors.

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.