Tronox Holdings plc to Issue Quarterly Dividend of $0.13 (NYSE:TROX)

Tronox Holdings plc (NYSE:TROX) announced a quarterly dividend on Wednesday, October 30th, Wall Street Journal reports. Stockholders of record on Monday, November 11th will be paid a dividend of 0.125 per share on Friday, December 13th. This represents a $0.50 annualized dividend and a dividend yield of 4.13%. The ex-dividend date is Friday, November 8th.

Tronox has increased its dividend payment by an average of 21.3% per year over the last three years. Tronox has a payout ratio of 39.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Tronox to earn $0.79 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 63.3%.

Tronox Stock Down 1.2 %

Shares of TROX stock opened at $12.12 on Friday. The firm’s 50 day moving average price is $13.42 and its two-hundred day moving average price is $15.80. The company has a quick ratio of 1.08, a current ratio of 2.72 and a debt-to-equity ratio of 1.42. Tronox has a 52-week low of $10.24 and a 52-week high of $20.70.

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

Analyst Upgrades and Downgrades

TROX has been the subject of several analyst reports. UBS Group upgraded Tronox from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $17.00 to $19.00 in a research report on Thursday, October 10th. StockNews.com upgraded shares of Tronox from a “sell” rating to a “hold” rating in a report on Monday, August 5th. BMO Capital Markets cut their target price on shares of Tronox from $21.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday. The Goldman Sachs Group reduced their price target on shares of Tronox from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. Finally, Barclays lowered their price objective on shares of Tronox from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Tronox currently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

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.