Tronox (NYSE:TROX) PT Lowered to $18.00 at The Goldman Sachs Group

Tronox (NYSE:TROX) had its price target trimmed by The Goldman Sachs Group from $21.00 to $18.00 in a report published on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also recently commented on TROX. UBS Group dropped their price target on Tronox from $19.00 to $18.00 and set a neutral rating for the company in a research report on Tuesday, July 9th. StockNews.com upgraded shares of Tronox from a sell rating to a hold rating in a research report on Monday, August 5th. Mizuho began coverage on shares of Tronox in a research note on Friday, June 7th. They issued a neutral rating and a $22.00 price target on the stock. Finally, Barclays dropped their price objective on shares of Tronox from $22.00 to $19.00 and set an overweight rating for the company in a research note on Tuesday, August 6th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $18.67.

Tronox Stock Down 2.3 %

Tronox stock opened at $12.64 on Tuesday. The company has a debt-to-equity ratio of 1.44, a current ratio of 2.98 and a quick ratio of 1.08. The stock has a market capitalization of $2.00 billion, a PE ratio of -5.67, a price-to-earnings-growth ratio of 26.01 and a beta of 1.64. The business has a 50 day simple moving average of $14.81 and a 200-day simple moving average of $16.56. Tronox has a 12 month low of $10.08 and a 12 month high of $20.70.

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

Tronox Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Monday, August 26th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date is Monday, August 26th. Tronox’s dividend payout ratio is presently -22.42%.

Hedge Funds Weigh In On Tronox

A number of hedge funds have recently modified their holdings of TROX. GAMMA Investing LLC purchased a new position in shares of Tronox during the 4th quarter worth approximately $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Tronox during the second quarter worth $76,000. Headlands Technologies LLC purchased a new position in shares of Tronox during the second quarter worth $83,000. SG Americas Securities LLC acquired a new stake in shares of Tronox in the first quarter valued at $124,000. Finally, nVerses Capital LLC purchased a new stake in shares of Tronox in the 2nd quarter valued at $121,000. 73.36% of the stock is currently owned by hedge funds and other institutional investors.

Tronox Company Profile

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.