Tronox Holdings PLC (NYSE:TROX) Given Average Recommendation of “Reduce” by Brokerages

Tronox Holdings PLC (NYSE:TROX) has received a consensus rating of “Reduce” from the nine analysts that are presently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $7.0833.

A number of analysts recently issued reports on TROX shares. Wall Street Zen cut shares of Tronox from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Truist Financial raised Tronox from a “sell” rating to a “hold” rating and set a $7.00 price target on the stock in a research note on Thursday, June 11th. JPMorgan Chase & Co. cut Tronox from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $7.00 to $5.00 in a report on Thursday, August 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tronox in a research report on Friday, August 7th. Finally, The Goldman Sachs Group dropped their target price on Tronox from $9.00 to $6.50 and set a “sell” rating for the company in a research note on Wednesday, July 22nd.

Tronox Price Performance

NYSE:TROX opened at $4.30 on Tuesday. Tronox has a 12-month low of $2.86 and a 12-month high of $10.59. The firm has a market cap of $686.71 million, a price-to-earnings ratio of -1.24 and a beta of 0.79. The company’s 50-day moving average is $5.55 and its two-hundred day moving average is $7.15. 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 (NYSE:TROX) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.13). The firm had revenue of $868.00 million for the quarter, compared to analysts’ expectations of $832.59 million. Tronox had a negative return on equity of 24.34% and a negative net margin of 17.96%.The business’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.28) earnings per share. Research analysts expect that Tronox will post -1.37 EPS for the current year.

Tronox Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Monday, August 10th will be issued a $0.05 dividend. The ex-dividend date is Monday, August 10th. This represents a $0.20 annualized dividend and a yield of 4.7%. Tronox’s payout ratio is -5.78%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TROX. Marnell Management LLC acquired a new stake in shares of Tronox in the fourth quarter worth approximately $83,000. Alpine Global Management LLC increased its position in Tronox by 897.4% during the fourth quarter. Alpine Global Management LLC now owns 21,531 shares of the company’s stock worth $90,000 after purchasing an additional 24,231 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Tronox during the second quarter worth approximately $114,000. Abel Hall LLC purchased a new position in Tronox during the first quarter worth approximately $121,000. Finally, Banque Cantonale Vaudoise purchased a new position in Tronox during the fourth quarter worth approximately $122,000. Institutional investors and hedge funds own 73.36% of the company’s stock.

About Tronox

Tronox Holdings plc (NYSE:TROX) is a global producer of titanium dioxide (TiO2) pigment, a material used to provide whiteness, brightness, and opacity in paints and coatings, plastics, paper, and other products. The company also produces titanium feedstocks, zircon, and other mineral-sands products used in pigment manufacturing and a range of industrial applications.

Tronox operates an integrated business model that includes the exploration and mining of mineral sands, processing and upgrading titanium-bearing ores, manufacturing TiO2 pigment, and producing related specialty materials.