Tronox (NYSE:TROX – Get Free Report) released its earnings results on Wednesday. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.13), Zacks reports. Tronox had a negative net margin of 15.86% and a negative return on equity of 24.24%. The business had revenue of $827.00 million during the quarter, compared to the consensus estimate of $854.43 million. During the same period last year, the business posted ($0.46) EPS. The firm’s revenue for the quarter was up 18.3% on a year-over-year basis.
Tronox Stock Performance
Shares of TROX traded down $0.10 during midday trading on Friday, reaching $2.52. The stock had a trading volume of 3,741,009 shares, compared to its average volume of 3,086,076. The firm has a 50 day simple moving average of $4.02 and a 200-day simple moving average of $6.56. Tronox has a one year low of $2.41 and a one year high of $10.59. The firm has a market cap of $401.65 million, a PE ratio of -0.80 and a beta of 0.98. The company has a current ratio of 2.55, a quick ratio of 0.81 and a debt-to-equity ratio of 2.62.
Tronox Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Monday, November 16th will be paid a $0.05 dividend. The ex-dividend date is Monday, November 16th. This represents a $0.20 dividend on an annualized basis and a yield of 8.0%. Tronox’s dividend payout ratio (DPR) is currently -6.31%.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the stock. The Goldman Sachs Group cut their price target on shares of Tronox from $6.50 to $4.00 and set a “sell” rating on the stock in a research report on Friday, October 9th. UBS Group lowered their target price on Tronox from $7.00 to $4.50 and set a “neutral” rating on the stock in a research report on Monday, October 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tronox in a research report on Wednesday. Mizuho dropped their target price on Tronox from $5.50 to $4.50 and set an “underperform” rating on the stock in a report on Wednesday, September 30th. Finally, JPMorgan Chase & Co. cut Tronox from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $7.00 to $5.00 in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, Tronox presently has a consensus rating of “Reduce” and a consensus price target of $5.33.
Check Out Our Latest Stock Report on Tronox
About Tronox
Tronox Holdings plc (NYSE:TROX) is a global producer of titanium dioxide pigment and other titanium products. Its titanium dioxide is used to provide whiteness, brightness and opacity in paints and coatings, plastics, paper, inks and related applications. The company also produces zircon and other mineral sands products used in ceramics, refractories, foundries and industrial applications.
Tronox operates an integrated business that includes the mining of mineral sands, production of titanium-bearing feedstocks, and manufacture of titanium dioxide pigment and specialty products.
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