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 KRO traded up $0.31 during mid-day trading on Friday, reaching $7.43. The company had a trading volume of 469,257 shares, compared to its average volume of 335,711. The stock has a market cap of $855.19 million, a price-to-earnings ratio of -22.51 and a beta of 1.11. The firm has a fifty day simple moving average of $7.90 and a 200-day simple moving average of $6.90. Kronos Worldwide has a fifty-two week low of $4.08 and a fifty-two week high of $9.17. The company has a current ratio of 3.30, a quick ratio of 1.55 and a debt-to-equity ratio of 0.76.

Kronos Worldwide Announces Dividend

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

Wall Street Analysts Forecast Growth

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