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

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

Kronos Worldwide Trading Up 4.4%

Shares of KRO stock traded up $0.31 on Friday, hitting $7.43. 469,257 shares of the company’s stock traded hands, compared to its average volume of 335,711. The stock has a market capitalization of $855.19 million, a price-to-earnings ratio of -22.51 and a beta of 1.11. The company’s fifty day simple moving average is $7.90 and its 200 day simple moving average is $6.90. Kronos Worldwide has a one year low of $4.08 and a one year high of $9.17. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.55 and a current ratio of 3.30.

Kronos Worldwide Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Thursday, November 19th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $0.20 annualized dividend and a dividend yield of 2.7%. Kronos Worldwide’s dividend payout ratio (DPR) is currently -21.05%.

Wall Street Analysts Forecast Growth

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

Kronos Worldwide Company Profile

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.