Tronox Holdings plc (NYSE:TROX) Receives Average Rating of “Moderate Buy” from Brokerages

Tronox Holdings plc (NYSE:TROX) has been given a consensus rating of “Moderate Buy” by the five brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $18.00.

Several equities analysts have commented on TROX shares. BMO Capital Markets lowered their price objective on Tronox from $21.00 to $17.00 and set an “outperform” rating for the company in a research report on Tuesday, October 29th. The Goldman Sachs Group lowered their price target on shares of Tronox from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. Barclays cut their price objective on shares of Tronox from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Finally, UBS Group upgraded shares of Tronox from a “neutral” rating to a “buy” rating and lifted their target price for the company from $17.00 to $19.00 in a report on Thursday, October 10th.

Tronox Stock Down 2.6 %

Shares of Tronox stock opened at $10.13 on Friday. The company has a current ratio of 2.72, a quick ratio of 0.90 and a debt-to-equity ratio of 1.42. Tronox has a 12-month low of $9.99 and a 12-month high of $20.70. The company has a market cap of $1.60 billion, a P/E ratio of -21.10 and a beta of 1.59. The company’s fifty day simple moving average is $11.63 and its two-hundred day simple moving average is $13.73.

Tronox (NYSE:TROX) last announced its quarterly earnings results on Thursday, October 24th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.30). The company had revenue of $804.00 million for the quarter, compared to analysts’ expectations of $790.63 million. Tronox had a negative net margin of 2.40% and a negative return on equity of 3.91%. Tronox’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.08) EPS. Research analysts anticipate that Tronox will post -0.04 EPS for the current year.

Tronox Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, November 11th were issued a $0.125 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.50 annualized dividend and a yield of 4.94%. Tronox’s dividend payout ratio (DPR) is presently -104.17%.

Hedge Funds Weigh In On Tronox

A number of hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio purchased a new position in Tronox in the 3rd quarter worth about $66,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Tronox during the second quarter valued at approximately $76,000. Headlands Technologies LLC bought a new position in Tronox during the second quarter valued at approximately $83,000. nVerses Capital LLC purchased a new stake in Tronox in the second quarter worth approximately $121,000. Finally, Entropy Technologies LP bought a new stake in Tronox in the 3rd quarter worth approximately $190,000. 73.36% of the stock is currently owned by hedge funds and other institutional investors.

Tronox Company Profile

Tronox Holdings plc operates as a vertically integrated manufacturer of TiO2 pigment in North America, South and Central America, Europe, the Middle East, Africa, and the Asia Pacific. The company operates titanium-bearing mineral sand mines; and engages in beneficiation and smelting operations. It offers TiO2 pigment; ultrafine specialty TiO2; zircon; feedstock; pig iron; monazite; titanium tetrachloride; and other products.