Kronos Worldwide (NYSE:KRO) Issues Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Key Points

• Kronos Worldwide reported quarterly EPS of $0.30, beating the $0.19 analyst consensus by $0.11; revenue of $541.1 million also exceeded estimates of $537.4 million. The company nevertheless reported a negative net margin of 1.85%.
• The company declared a quarterly dividend of $0.05 per share, equivalent to $0.20 annually and a 2.7% yield.
• Analyst sentiment was mixed, with MarketBeat reporting a consensus rating of “Reduce” and an average price target of $8.50.

Kronos Worldwide (NYSE:KRO - Get Free Report) announced its quarterly earnings data on Thursday. The specialty chemicals company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.11, FiscalAI reports. Kronos Worldwide had a negative return on equity of 5.02% and a negative net margin of 1.85%. The firm had revenue of $541.10 million during the quarter, compared to analyst estimates of $537.40 million.

Kronos Worldwide Stock Performance

Shares of Kronos Worldwide stock traded up $0.31 during trading on Friday, hitting $7.43. 469,257 shares of the stock were exchanged, compared to its average volume of 335,711. The company has a current ratio of 3.30, a quick ratio of 1.55 and a debt-to-equity ratio of 0.76. The company has a fifty day moving average price of $7.90 and a 200-day moving average price of $6.90. The stock has a market capitalization of $855.19 million, a price-to-earnings ratio of -22.51 and a beta of 1.11. Kronos Worldwide has a 1-year low of $4.08 and a 1-year high of $9.17.

Kronos Worldwide Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Thursday, November 19th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Thursday, November 19th. Kronos Worldwide's payout ratio is presently -21.05%.

Analyst Upgrades and Downgrades

KRO has been the topic of several research analyst reports. Zacks Research downgraded Kronos Worldwide from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 14th. Wall Street Zen cut Kronos Worldwide from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Weiss Ratings restated a "sell (d+)" rating on shares of Kronos Worldwide in a report on Tuesday, October 6th. The Goldman Sachs Group reaffirmed a "sell" rating and set a $8.00 price target on shares of Kronos Worldwide in a research report on Thursday, August 13th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Kronos Worldwide from $6.00 to $9.00 and gave the stock a "buy" rating in a research report on Tuesday, August 25th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average target price of $8.50.

About Kronos Worldwide

Kronos Worldwide, Inc NYSE: KRO is a global producer and marketer of titanium dioxide (TiO2) pigments. Its products are sold primarily under the KRONOS brand and are used to provide whiteness, opacity, brightness and protection in paints and coatings, plastics, paper and other manufactured products.

The company also produces certain specialty chemicals, including iron-based products and related inorganic chemicals. Kronos serves industrial customers through manufacturing and distribution operations in North America and Europe, with products marketed to customers in markets around the world.

Kronos Worldwide traces its roots to the early development of commercial titanium dioxide production and is part of the Valhi, Inc corporate family.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.