Tronox Holdings PLC (TROX) To Go Ex-Dividend on November 16th

Tronox Holdings PLC (NYSE:TROX) declared a quarterly dividend on Tuesday, November 3rd. Shareholders of record on Monday, November 16th will be paid a dividend of $0.05 per share on Friday, January 15th. This represents a $0.20 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date is Monday, November 16th.

Tronox has a dividend payout ratio of 25.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Tronox to earn ($0.49) per share next year, which means the company may not be able to cover its $0.20 annual dividend with an expected future payout ratio of -40.8%.

Tronox Stock Up 4.6%

NYSE:TROX opened at $3.56 on Thursday. The firm has a market capitalization of $567.73 million, a PE ratio of -1.03 and a beta of 0.98. The stock has a 50 day moving average of $4.08 and a 200-day moving average of $6.58. Tronox has a 52 week low of $2.86 and a 52 week high of $10.59. 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 (NYSE:TROX) last announced its quarterly earnings results on Wednesday, November 4th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.13). The company had revenue of $827.00 million during the quarter, compared to the consensus estimate of $854.43 million. Tronox had a negative return on equity of 24.34% and a negative net margin of 17.96%. The company’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period last year, the business posted ($0.46) EPS. Analysts predict that Tronox will post -1.49 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TROX shares. Zacks Research cut Tronox from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 15th. UBS Group reduced their price target on shares of Tronox from $7.00 to $4.50 and set a “neutral” rating for the company in a report on Monday, October 5th. The Goldman Sachs Group lowered their price target on shares of Tronox from $6.50 to $4.00 and set a “sell” rating for the company in a research report on Friday, October 9th. Mizuho dropped their price objective on shares of Tronox from $5.50 to $4.50 and set an “underperform” rating on the stock in a report on Wednesday, September 30th. Finally, Truist Financial cut their price objective on shares of Tronox from $7.00 to $4.00 and set a “hold” rating on the stock in a research report on Tuesday, October 20th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, Tronox presently has an average rating of “Reduce” and a consensus target price of $5.33.

About Tronox

Tronox Holdings plc (NYSE:TROX) is a global producer of titanium dioxide pigment and other titanium products. Its titanium dioxide is used to provide whiteness, brightness and opacity in paints and coatings, plastics, paper, inks and related applications. The company also produces zircon and other mineral sands products used in ceramics, refractories, foundries and industrial applications.

Tronox operates an integrated business that includes the mining of mineral sands, production of titanium-bearing feedstocks, and manufacture of titanium dioxide pigment and specialty products.