FY2017 EPS Estimates for Kronos Worldwide Inc (KRO) Lifted by SunTrust Banks
Kronos Worldwide Inc (NYSE:KRO) – Investment analysts at SunTrust Banks lifted their FY2017 earnings per share estimates for shares of Kronos Worldwide in a research report issued on Wednesday. SunTrust Banks analyst J. Sheehan now forecasts that the specialty chemicals company will post earnings per share of $1.63 for the year, up from their previous forecast of $1.61. SunTrust Banks currently has a “Hold” rating and a $24.00 target price on the stock. SunTrust Banks also issued estimates for Kronos Worldwide’s Q4 2017 earnings at $0.49 EPS and FY2018 earnings at $2.30 EPS.
Other analysts have also recently issued research reports about the company. ValuEngine upgraded Kronos Worldwide from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Zacks Investment Research cut Kronos Worldwide from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 27th. BidaskClub upgraded Kronos Worldwide from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. Finally, Barclays boosted their target price on Kronos Worldwide from $17.00 to $24.00 and gave the stock an “underweight” rating in a report on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $24.00.
Kronos Worldwide (NYSE:KRO) last announced its earnings results on Wednesday, November 8th. The specialty chemicals company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.21. The firm had revenue of $464.50 million during the quarter, compared to the consensus estimate of $448.00 million. Kronos Worldwide had a net margin of 20.52% and a return on equity of 31.38%. The firm’s revenue for the quarter was up 30.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.19 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, December 6th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Tuesday, December 5th. Kronos Worldwide’s payout ratio is 20.98%.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Kronos Worldwide by 3.2% in the first quarter. Vanguard Group Inc. now owns 1,624,570 shares of the specialty chemicals company’s stock worth $26,691,000 after buying an additional 50,903 shares during the period. Geode Capital Management LLC increased its position in Kronos Worldwide by 5.5% in the first quarter. Geode Capital Management LLC now owns 169,827 shares of the specialty chemicals company’s stock worth $2,790,000 after buying an additional 8,786 shares during the period. Morgan Stanley increased its position in Kronos Worldwide by 1.3% in the first quarter. Morgan Stanley now owns 204,942 shares of the specialty chemicals company’s stock worth $3,367,000 after buying an additional 2,650 shares during the period. Schwab Charles Investment Management Inc. increased its position in Kronos Worldwide by 5.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 87,535 shares of the specialty chemicals company’s stock worth $1,439,000 after buying an additional 4,617 shares during the period. Finally, Russell Investments Group Ltd. acquired a new stake in Kronos Worldwide in the second quarter worth $2,133,000. 16.18% of the stock is currently owned by institutional investors.
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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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