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

Tronox (NYSE:TROX) issued its earnings results on Wednesday. The company reported ($0.34) earnings per share (EPS) 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 firm had revenue of $827.00 million during the quarter, compared to the consensus estimate of $854.43 million. During the same period in the previous year, the company posted ($0.46) earnings per share. The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year.

Tronox Stock Performance

Shares of TROX stock traded down $0.09 on Friday, hitting $2.52. The company’s stock had a trading volume of 4,300,288 shares, compared to its average volume of 3,089,158. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.81 and a current ratio of 2.55. The stock’s 50 day moving average is $4.02 and its 200-day moving average is $6.56. Tronox has a fifty-two week low of $2.41 and a fifty-two week high of $10.59. The company has a market capitalization of $403.24 million, a PE ratio of -0.80 and a beta of 0.98.

Tronox Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Monday, November 16th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date of this dividend is Monday, November 16th. Tronox’s payout ratio is presently -6.31%.

Analysts Set New Price Targets

TROX has been the topic of several research analyst reports. Truist Financial dropped their price objective on Tronox from $7.00 to $4.00 and set a “hold” rating on the stock in a research note on Tuesday, October 20th. Zacks Research downgraded Tronox from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 15th. UBS Group decreased their target price on Tronox from $7.00 to $4.50 and set a “neutral” rating on the stock in a report on Monday, October 5th. JPMorgan Chase & Co. cut Tronox from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $7.00 to $5.00 in a research note on Thursday, August 13th. Finally, The Goldman Sachs Group dropped their price target on Tronox from $6.50 to $4.00 and set a “sell” rating on the stock in a research note on Friday, October 9th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $5.33.

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.