Tronox Holdings plc (NYSE:TROX) Receives $18.00 Average Price Target from Brokerages

Shares of Tronox Holdings plc (NYSE:TROX) have been given a consensus recommendation of “Moderate Buy” by the five research firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $18.00.

Several analysts have recently issued reports on TROX shares. Barclays reduced their target price on shares of Tronox from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. The Goldman Sachs Group cut their price target 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. StockNews.com raised shares of Tronox from a “sell” rating to a “hold” rating in a report on Monday, August 5th. UBS Group raised shares of Tronox from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $17.00 to $19.00 in a report on Thursday, October 10th. Finally, BMO Capital Markets cut their price target on shares of Tronox from $21.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th.

Institutional Investors Weigh In On Tronox

Institutional investors have recently added to or reduced their stakes in the business. Driehaus Capital Management LLC lifted its holdings in shares of Tronox by 109.3% in the second quarter. Driehaus Capital Management LLC now owns 2,646,916 shares of the company’s stock worth $41,530,000 after buying an additional 1,381,975 shares in the last quarter. Capital World Investors purchased a new stake in shares of Tronox in the first quarter worth about $19,152,000. FMR LLC lifted its holdings in shares of Tronox by 4.7% in the third quarter. FMR LLC now owns 23,805,227 shares of the company’s stock worth $348,270,000 after buying an additional 1,073,674 shares in the last quarter. Boston Partners lifted its holdings in shares of Tronox by 160.2% in the first quarter. Boston Partners now owns 1,018,025 shares of the company’s stock worth $17,664,000 after buying an additional 626,744 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Tronox by 54.6% in the third quarter. Victory Capital Management Inc. now owns 1,537,723 shares of the company’s stock worth $22,497,000 after buying an additional 543,091 shares in the last quarter. 73.36% of the stock is owned by hedge funds and other institutional investors.

Tronox Stock Performance

NYSE TROX opened at $10.90 on Friday. Tronox has a 1 year low of $10.86 and a 1 year high of $20.70. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.72 and a quick ratio of 0.90. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of -22.70 and a beta of 1.66. The company has a fifty day moving average price of $13.03 and a 200-day moving average price of $15.46.

Tronox (NYSE:TROX) last posted its earnings results on Thursday, October 24th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.30). Tronox had a negative return on equity of 3.91% and a negative net margin of 2.40%. The firm had revenue of $804.00 million during the quarter, compared to the consensus estimate of $790.63 million. During the same quarter in the previous year, the company earned ($0.08) EPS. The business’s revenue was up 21.5% compared to the same quarter last year. As a group, equities research analysts predict that Tronox will post -0.04 EPS for the current fiscal year.

Tronox Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 11th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend is Friday, November 8th. Tronox’s dividend payout ratio (DPR) is presently -104.16%.

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.