Tronox (NYSE:TROX) Releases Earnings Results, Misses Expectations By $0.13 EPS

Tronox (NYSE:TROXGet Free Report) issued its quarterly earnings data on Wednesday. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.13), Zacks reports. Tronox had a negative net margin of 15.82% and a negative return on equity of 19.93%. The company’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.28) earnings per share.

Tronox Price Performance

Tronox stock traded down $0.05 during midday trading on Wednesday, hitting $5.89. The company’s stock had a trading volume of 4,586,492 shares, compared to its average volume of 3,352,622. The company has a quick ratio of 0.66, a current ratio of 2.42 and a debt-to-equity ratio of 2.36. The stock’s 50-day moving average price is $6.79 and its 200-day moving average price is $7.55. Tronox has a 12 month low of $2.86 and a 12 month high of $10.59. The company has a market capitalization of $939.41 million, a PE ratio of -2.02 and a beta of 0.82.

Tronox Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Monday, August 10th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Monday, August 10th. Tronox’s payout ratio is presently -6.85%.

Hedge Funds Weigh In On Tronox

Several hedge funds have recently made changes to their positions in TROX. PNC Financial Services Group Inc. lifted its stake in Tronox by 292.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,715 shares of the company’s stock valued at $36,000 after purchasing an additional 6,493 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Tronox in the third quarter worth approximately $37,000. Headlands Technologies LLC bought a new position in shares of Tronox in the second quarter valued at $38,000. Aigen Investment Management LP bought a new position in shares of Tronox in the fourth quarter valued at $43,000. Finally, Vise Technologies Inc. acquired a new stake in shares of Tronox during the 4th quarter valued at $47,000. Institutional investors and hedge funds own 73.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft set a $10.00 price target on shares of Tronox in a research note on Wednesday, May 20th. The Goldman Sachs Group decreased their price objective on Tronox from $9.00 to $6.50 and set a “sell” rating for the company in a report on Wednesday, July 22nd. Truist Financial upgraded Tronox from a “sell” rating to a “hold” rating and set a $7.00 target price on the stock in a research report on Thursday, June 11th. UBS Group lifted their target price on Tronox from $7.50 to $9.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Finally, Weiss Ratings lowered Tronox from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $6.79.

Read Our Latest Stock Report on TROX

About Tronox

(Get Free Report)

Tronox Holdings plc is a vertically integrated global producer of titanium dioxide (TiO₂) pigment and specialty materials. The company’s operations encompass the full supply chain for TiO₂, from mining and processing titanium-bearing ores—such as ilmenite and rutile—to the production of high-purity pigment for use in paints, coatings, plastics, paper and other industrial applications. In addition to TiO₂, Tronox’s product portfolio includes zircon, rare earth byproducts and other specialty minerals that serve a range of industrial markets.

Tronox operates a network of mines, processing facilities and pigment plants located across North America, Europe, the Middle East, Australia and South Africa.

See Also

Earnings History for Tronox (NYSE:TROX)

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