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

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

Kronos Worldwide Trading Up 4.4%

Shares of NYSE KRO traded up $0.31 during midday trading on Friday, reaching $7.43. 469,257 shares of the stock were exchanged, compared to its average volume of 335,711. The stock has a 50 day moving average price of $7.90 and a 200-day moving average price of $6.90. The company has a current ratio of 3.30, a quick ratio of 1.55 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $855.19 million, a P/E ratio of -22.51 and a beta of 1.11. Kronos Worldwide has a 52-week low of $4.08 and a 52-week high of $9.17.

Kronos Worldwide Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Thursday, November 19th will be issued a dividend of $0.05 per share. The ex-dividend date is Thursday, November 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.7%. Kronos Worldwide’s payout ratio is -21.05%.

Analysts Set New Price Targets

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