Kronos Worldwide (NYSE:KRO) Releases Earnings Results, Beats Estimates By $0.11 EPS

Kronos Worldwide (NYSE:KRO) issued its quarterly earnings results on Thursday. The specialty chemicals company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.11, FiscalAI reports. Kronos Worldwide had a negative return on equity of 5.02% and a negative net margin of 1.85%. The company had revenue of $541.10 million for the quarter, compared to analysts’ expectations of $537.40 million.

Kronos Worldwide Trading Up 4.4%

KRO traded up $0.31 during trading on Friday, hitting $7.43. The company’s stock had a trading volume of 469,257 shares, compared to its average volume of 335,711. The firm has a market capitalization of $855.19 million, a P/E ratio of -22.51 and a beta of 1.11. Kronos Worldwide has a twelve month low of $4.08 and a twelve month high of $9.17. The stock’s fifty day moving average price is $7.90 and its 200-day moving average price is $6.90. The company has a quick ratio of 1.55, a current ratio of 3.30 and a debt-to-equity ratio of 0.76.

Kronos Worldwide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Thursday, November 19th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Thursday, November 19th. Kronos Worldwide’s payout ratio is currently -21.05%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wall Street Zen downgraded Kronos Worldwide from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Weiss Ratings restated a “sell (d+)” rating on shares of Kronos Worldwide in a research note on Tuesday, October 6th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Kronos Worldwide from $6.00 to $9.00 and gave the company a “buy” rating in a report on Tuesday, August 25th. The Goldman Sachs Group reiterated a “sell” rating and set a $8.00 price objective on shares of Kronos Worldwide in a research report on Thursday, August 13th. Finally, Zacks Research cut shares of Kronos Worldwide from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 14th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Kronos Worldwide presently has an average rating of “Reduce” and a consensus price target of $8.50.

About Kronos Worldwide

Kronos Worldwide, Inc (NYSE:KRO) is a global producer and marketer of titanium dioxide (TiO2) pigments. Its products are sold primarily under the KRONOS brand and are used to provide whiteness, opacity, brightness and protection in paints and coatings, plastics, paper and other manufactured products.

The company also produces certain specialty chemicals, including iron-based products and related inorganic chemicals. Kronos serves industrial customers through manufacturing and distribution operations in North America and Europe, with products marketed to customers in markets around the world.

Kronos Worldwide traces its roots to the early development of commercial titanium dioxide production and is part of the Valhi, Inc corporate family.