SunTrust Banks Weighs in on Kronos Worldwide, Inc.’s FY2017 Earnings (KRO)
Kronos Worldwide, Inc. (NYSE:KRO) – SunTrust Banks upped their FY2017 earnings estimates for Kronos Worldwide in a report released on Wednesday. SunTrust Banks analyst J. Sheehan now anticipates that the specialty chemicals company will post earnings per share of $1.41 for the year, up from their prior estimate of $1.10. SunTrust Banks also issued estimates for Kronos Worldwide’s Q4 2017 earnings at $0.33 EPS and FY2018 earnings at $1.27 EPS.
Kronos Worldwide (NYSE:KRO) last issued its quarterly earnings results on Monday, May 8th. The specialty chemicals company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.24 by $0.08. Kronos Worldwide had a negative return on equity of 0.07% and a negative net margin of 0.02%. The firm had revenue of $369.80 million during the quarter, compared to analysts’ expectations of $350 million. During the same period in the prior year, the firm posted ($0.03) earnings per share. The business’s quarterly revenue was up 16.1% compared to the same quarter last year.
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Several other equities analysts have also issued reports on the company. Zacks Investment Research raised Kronos Worldwide from a “hold” rating to a “strong-buy” rating and set a $18.00 target price for the company in a report on Friday, March 17th. Barclays PLC upped their target price on Kronos Worldwide from $7.00 to $12.00 and gave the company an “underweight” rating in a report on Tuesday, March 14th. Standpoint Research lowered Kronos Worldwide from a “buy” rating to a “hold” rating in a report on Tuesday, March 28th. Finally, TheStreet raised Kronos Worldwide from a “c” rating to a “b-” rating in a report on Wednesday, March 29th.
Shares of Kronos Worldwide (NYSE:KRO) traded down 2.56% on Monday, reaching $19.43. The company had a trading volume of 51,059 shares. The stock has a 50-day moving average price of $16.99 and a 200-day moving average price of $13.80. Kronos Worldwide has a 12 month low of $4.70 and a 12 month high of $19.96. The stock has a market cap of $2.25 billion, a PE ratio of 26.84 and a beta of 2.24.
Institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. purchased a new position in Kronos Worldwide during the fourth quarter valued at approximately $12,782,000. Acadian Asset Management LLC increased its position in Kronos Worldwide by 455.4% in the first quarter. Acadian Asset Management LLC now owns 363,801 shares of the specialty chemicals company’s stock valued at $5,978,000 after buying an additional 298,300 shares during the last quarter. AQR Capital Management LLC purchased a new position in Kronos Worldwide during the fourth quarter valued at approximately $184,000. Barrow Hanley Mewhinney & Strauss LLC increased its position in Kronos Worldwide by 0.3% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 320,775 shares of the specialty chemicals company’s stock valued at $3,830,000 after buying an additional 975 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Kronos Worldwide by 184.2% in the fourth quarter. Renaissance Technologies LLC now owns 647,100 shares of the specialty chemicals company’s stock valued at $7,726,000 after buying an additional 419,400 shares during the last quarter. Institutional investors and hedge funds own 13.80% of the company’s stock.
About Kronos Worldwide
Kronos Worldwide, Inc (Kronos) is a producer and marketer of titanium dioxide (TiO2) pigments, a base industrial product that is used in a range of applications. The Company, along with its distributors and agents, sells and provides technical services for its products with sales in Europe and North America.
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