Tronox Holdings PLC (NYSE:TROX) Receives Consensus Rating of “Reduce” from Analysts

Tronox Holdings PLC (NYSE:TROX) has received a consensus recommendation of “Reduce” from the ten brokerages that are presently covering the stock, Marketbeat reports. Four analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $6.9286.

A number of research firms have issued reports on TROX. JPMorgan Chase & Co. lowered 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. Wall Street Zen downgraded Tronox from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. The Goldman Sachs Group cut their target price on shares of Tronox from $9.00 to $6.50 and set a “sell” rating on the stock in a research note on Wednesday, July 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tronox in a report on Friday, August 7th. Finally, Deutsche Bank Aktiengesellschaft set a $10.00 price target on shares of Tronox in a research note on Wednesday, May 20th.

Tronox Stock Up 0.4%

Tronox stock opened at $5.49 on Friday. Tronox has a twelve month low of $2.86 and a twelve month high of $10.59. The stock’s fifty day simple moving average is $6.16 and its 200-day simple moving average is $7.49. The company has a current ratio of 2.55, a quick ratio of 0.81 and a debt-to-equity ratio of 2.62. The firm has a market capitalization of $876.75 million, a P/E ratio of -1.59 and a beta of 0.82.

Tronox (NYSE:TROX) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.13). The company had revenue of $868.00 million during the quarter, compared to analyst estimates of $832.59 million. Tronox had a negative net margin of 17.96% and a negative return on equity of 24.34%. The firm’s revenue was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.28) earnings per share. As a group, equities analysts expect that Tronox will post -1.37 earnings per share for the current fiscal year.

Tronox Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Monday, August 10th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.6%. Tronox’s dividend payout ratio is currently -5.78%.

Institutional Investors Weigh In On Tronox

Institutional investors have recently modified their holdings of the company. AQR Capital Management LLC purchased a new position in Tronox in the first quarter valued at $1,188,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Tronox by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 70,574 shares of the company’s stock valued at $497,000 after buying an additional 3,042 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Tronox by 12.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 366,203 shares of the company’s stock worth $2,578,000 after buying an additional 41,092 shares during the last quarter. Jane Street Group LLC lifted its holdings in Tronox by 93.2% during the 1st quarter. Jane Street Group LLC now owns 118,637 shares of the company’s stock worth $835,000 after buying an additional 57,237 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new stake in Tronox during the 2nd quarter worth about $79,000. 73.36% of the stock is owned by hedge funds and other institutional investors.

Tronox Company Profile

Tronox Holdings plc is a vertically integrated global producer of titanium dioxide (TiO?) pigment and specialty materials. The company’s operations encompass the full supply chain for TiO?, 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 TiO?, 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.