Kronos Worldwide (NYSE:KRO) Issues Quarterly Earnings Results

Kronos Worldwide (NYSE:KRO) issued its quarterly earnings results on Wednesday. The specialty chemicals company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.04), Zacks reports. Kronos Worldwide had a negative net margin of 1.50% and a negative return on equity of 3.13%. The firm had revenue of $500.50 million for the quarter, compared to analysts’ expectations of $504.19 million.

Kronos Worldwide Price Performance

Shares of KRO stock traded down $0.02 during mid-day trading on Friday, hitting $10.56. The company had a trading volume of 198,772 shares, compared to its average volume of 249,017. Kronos Worldwide has a 52-week low of $6.16 and a 52-week high of $14.50. The stock’s 50 day moving average price is $12.48 and its 200-day moving average price is $11.54. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.68 and a quick ratio of 1.90. The company has a market capitalization of $1.21 billion, a P/E ratio of -45.91 and a beta of 1.19.

Kronos Worldwide Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, September 6th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Friday, September 6th. Kronos Worldwide’s dividend payout ratio (DPR) is presently -86.96%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on KRO. StockNews.com raised shares of Kronos Worldwide from a “hold” rating to a “buy” rating in a report on Monday, May 13th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Kronos Worldwide from $12.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. The Goldman Sachs Group lifted their price target on shares of Kronos Worldwide from $9.00 to $11.00 and gave the company a “sell” rating in a report on Thursday, May 16th. Finally, Barclays boosted their target price on shares of Kronos Worldwide from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Wednesday, May 15th. Two investment analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $11.67.

Kronos Worldwide Company Profile

Kronos Worldwide, Inc produces and markets titanium dioxide pigments (TiO2) in Europe, North America, the Asia Pacific, and internationally. The company produces TiO2 in two crystalline forms, rutile and anatase to impart whiteness, brightness, opacity, and durability for various products, including paints, coatings, plastics, paper, fibers, and ceramics, as well as for various specialty products, such as inks, foods, and cosmetics.