ValuEngine Lowers Tronox (NYSE:TROX) to Sell

ValuEngine downgraded shares of Tronox (NYSE:TROX) from a hold rating to a sell rating in a research note published on Tuesday morning, ValuEngine reports.

A number of other brokerages have also recently issued reports on TROX. BMO Capital Markets set a $18.00 price objective on Tronox and gave the stock a buy rating in a report on Monday, August 12th. TheStreet lowered Tronox from a c- rating to a d+ rating in a research note on Friday, October 11th. Finally, Zacks Investment Research cut Tronox from a buy rating to a hold rating in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. Tronox has an average rating of Hold and an average price target of $14.64.

Shares of NYSE TROX traded down $0.30 during mid-day trading on Tuesday, reaching $10.75. 87,679 shares of the company were exchanged, compared to its average volume of 1,090,643. The stock has a market capitalization of $1.61 billion, a P/E ratio of 19.21 and a beta of 3.37. The company has a quick ratio of 1.62, a current ratio of 3.26 and a debt-to-equity ratio of 3.80. The company’s 50-day simple moving average is $8.94 and its 200-day simple moving average is $9.94. Tronox has a twelve month low of $6.46 and a twelve month high of $15.50.

Tronox (NYSE:TROX) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.06. The business had revenue of $768.00 million for the quarter, compared to analyst estimates of $797.64 million. Tronox had a negative net margin of 4.79% and a positive return on equity of 6.56%. Tronox’s quarterly revenue was up 68.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.17 EPS. As a group, equities research analysts expect that Tronox will post 0.45 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 19th will be given a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Monday, November 18th. Tronox’s dividend payout ratio is 32.14%.

A number of institutional investors have recently modified their holdings of the business. BBVA USA Bancshares Inc. grew its holdings in shares of Tronox by 8.1% during the 3rd quarter. BBVA USA Bancshares Inc. now owns 16,414 shares of the company’s stock worth $136,000 after purchasing an additional 1,223 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Tronox by 26.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,882 shares of the company’s stock valued at $75,000 after acquiring an additional 1,244 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in Tronox in the second quarter valued at approximately $43,000. Swiss National Bank raised its position in Tronox by 2.2% during the second quarter. Swiss National Bank now owns 175,300 shares of the company’s stock valued at $2,240,000 after purchasing an additional 3,700 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Tronox by 111.3% during the third quarter. Tower Research Capital LLC TRC now owns 7,078 shares of the company’s stock valued at $58,000 after purchasing an additional 3,728 shares in the last quarter. Institutional investors and hedge funds own 57.92% of the company’s stock.

Tronox Company Profile

Tronox Holdings plc engages in the mining, production, and marketing of inorganic minerals and chemicals in North America, South and Central America, Europe, the Middle East, Africa, and the Asia Pacific. It mines and processes titanium ore, zircon, and other minerals; and manufactures titanium dioxide pigments that add brightness and durability to paints, plastics, paper, and other everyday products.

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Analyst Recommendations for Tronox (NYSE:TROX)

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