Tronox (NYSE:TROX) Price Target Cut to $18.00

Tronox (NYSE:TROX) had its target price trimmed by Barclays from $19.00 to $18.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

TROX has been the subject of several other research reports. UBS Group lowered their price target on shares of Tronox from $19.00 to $18.00 and set a neutral rating for the company in a report on Tuesday, July 9th. Mizuho assumed coverage on shares of Tronox in a research note on Friday, June 7th. They set a neutral rating and a $22.00 target price for the company. The Goldman Sachs Group dropped their target price on shares of Tronox from $18.00 to $16.00 and set a buy rating on the stock in a report on Thursday, September 19th. Finally, StockNews.com upgraded Tronox from a sell rating to a hold rating in a report on Monday, August 5th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of Hold and an average target price of $18.17.

Tronox Price Performance

Shares of NYSE:TROX opened at $14.50 on Wednesday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.08 and a current ratio of 2.98. Tronox has a 52 week low of $10.08 and a 52 week high of $20.70. The firm has a market cap of $2.29 billion, a PE ratio of -6.50, a price-to-earnings-growth ratio of 25.62 and a beta of 1.64. The firm’s fifty day moving average is $13.68 and its 200-day moving average is $16.30.

Tronox (NYSE:TROX) last announced its earnings results on Thursday, August 1st. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.11). The company had revenue of $820.00 million for the quarter, compared to analyst estimates of $848.04 million. Tronox had a negative return on equity of 3.40% and a negative net margin of 2.14%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.16 earnings per share. Sell-side analysts predict that Tronox will post 0.44 earnings per share for the current year.

Tronox Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, August 26th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend was Monday, August 26th. Tronox’s dividend payout ratio (DPR) is currently -22.42%.

Institutional Trading of Tronox

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TROX. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Tronox in the second quarter valued at approximately $76,000. Headlands Technologies LLC acquired a new stake in Tronox in the 2nd quarter valued at $83,000. TFO Wealth Partners LLC increased its stake in Tronox by 260,833.3% during the 4th quarter. TFO Wealth Partners LLC now owns 7,828 shares of the company’s stock valued at $111,000 after purchasing an additional 7,825 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Tronox in the second quarter valued at $121,000. Finally, SG Americas Securities LLC bought a new position in shares of Tronox in the first quarter valued at $124,000. 73.36% of the stock is owned by institutional investors.

About Tronox

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.