Tronox Holdings PLC (NYSE:TROX) Receives $7.08 Consensus PT from Analysts

Tronox Holdings PLC (NYSE:TROX) has been given a consensus rating of “Reduce” by the nine analysts that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $7.0833.

Several brokerages recently weighed in on TROX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tronox in a research report on Friday, August 7th. Wall Street Zen downgraded Tronox from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. The Goldman Sachs Group dropped their target price on Tronox from $9.00 to $6.50 and set a “sell” rating on the stock in a report on Wednesday, July 22nd. Truist Financial raised Tronox from a “sell” rating to a “hold” rating and set a $7.00 target price on the stock in a research report on Thursday, June 11th. Finally, JPMorgan Chase & Co. downgraded Tronox from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $7.00 to $5.00 in a report on Thursday, August 13th.

Tronox Stock Performance

NYSE TROX opened at $4.26 on Tuesday. The company has a market cap of $681.12 million, a P/E ratio of -1.23 and a beta of 0.79. The company has a fifty day simple moving average of $5.62 and a 200 day simple moving average of $7.20. The company has a current ratio of 2.55, a quick ratio of 0.81 and a debt-to-equity ratio of 2.62. Tronox has a 12-month low of $2.86 and a 12-month high of $10.59.

Tronox (NYSE:TROX) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.13). The business had revenue of $868.00 million during the quarter, compared to the consensus estimate of $832.59 million. Tronox had a negative net margin of 17.96% and a negative return on equity of 24.34%. The firm’s quarterly revenue was up 18.7% on a year-over-year basis. During the same period last year, the business posted ($0.28) earnings per share. Sell-side analysts predict that Tronox will post -1.37 earnings per share for the current fiscal year.

Tronox Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Monday, August 10th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Monday, August 10th. Tronox’s payout ratio is currently -5.78%.

Institutional Trading of Tronox

Several institutional investors and hedge funds have recently made changes to their positions in TROX. Abel Hall LLC purchased a new position in Tronox during the first quarter worth about $121,000. R Squared Ltd bought a new position in shares of Tronox during the 1st quarter worth approximately $155,000. Public Employees Retirement System of Ohio purchased a new position in shares of Tronox in the 2nd quarter worth approximately $114,000. Marnell Management LLC purchased a new position in shares of Tronox in the 4th quarter worth approximately $83,000. Finally, Alpine Global Management LLC boosted its stake in shares of Tronox by 897.4% in the 4th quarter. Alpine Global Management LLC now owns 21,531 shares of the company’s stock worth $90,000 after buying an additional 24,231 shares during the last quarter. Hedge funds and other institutional investors own 73.36% of the company’s stock.

Tronox Company Profile

Tronox Holdings plc (NYSE:TROX) is a global producer of titanium dioxide (TiO2) pigment, a material used to provide whiteness, brightness, and opacity in paints and coatings, plastics, paper, and other products. The company also produces titanium feedstocks, zircon, and other mineral-sands products used in pigment manufacturing and a range of industrial applications.

Tronox operates an integrated business model that includes the exploration and mining of mineral sands, processing and upgrading titanium-bearing ores, manufacturing TiO2 pigment, and producing related specialty materials.