Kronos Worldwide (KRO) to Release Quarterly Earnings on Wednesday

Key Points

• Kronos Worldwide is scheduled to release its quarterly earnings on August 6th, with analysts projecting earnings of $0.23 per share and revenue of $508.47 million.
• The company reported earnings of $0.16 per share for the previous quarter, missing estimates, while revenue exceeded expectations at $489.80 million.
• Recent institutional trading shows increases in holdings, with Goldman Sachs growing its position by 11.1%, highlighting growing investor interest in Kronos Worldwide despite recent cuts to price targets by analysts.

Kronos Worldwide (NYSE:KRO - Get Free Report) is projected to announce its earnings results after the market closes on Wednesday, August 6th. Analysts expect the company to announce earnings of $0.23 per share and revenue of $508.47 million for the quarter.

Kronos Worldwide (NYSE:KRO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The specialty chemicals company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). Kronos Worldwide had a net margin of 5.07% and a return on equity of 11.71%. The company had revenue of $489.80 million during the quarter, compared to the consensus estimate of $466.56 million.

Kronos Worldwide Stock Performance

NYSE:KRO traded down $0.15 during mid-day trading on Friday, reaching $5.20. 301,819 shares of the company's stock were exchanged, compared to its average volume of 233,965. Kronos Worldwide has a one year low of $5.11 and a one year high of $12.98. The firm has a market capitalization of $598.21 million, a PE ratio of 6.27 and a beta of 1.10. The business's fifty day simple moving average is $6.31 and its two-hundred day simple moving average is $7.45. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 2.62.

Kronos Worldwide Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 9th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Monday, June 9th. Kronos Worldwide's dividend payout ratio (DPR) is currently 24.10%.

Institutional Investors Weigh In On Kronos Worldwide

Hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC boosted its position in Kronos Worldwide by 20.3% during the 1st quarter. Jane Street Group LLC now owns 24,368 shares of the specialty chemicals company's stock worth $182,000 after buying an additional 4,104 shares during the period. Goldman Sachs Group Inc. boosted its position in Kronos Worldwide by 11.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 220,663 shares of the specialty chemicals company's stock worth $1,651,000 after buying an additional 22,046 shares during the period. Finally, AQR Capital Management LLC boosted its position in Kronos Worldwide by 478.7% during the 1st quarter. AQR Capital Management LLC now owns 125,969 shares of the specialty chemicals company's stock worth $942,000 after buying an additional 104,202 shares during the period. 15.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KRO has been the topic of a number of analyst reports. Barclays reduced their price objective on shares of Kronos Worldwide from $10.00 to $7.00 and set an "underweight" rating on the stock in a research note on Wednesday, May 28th. The Goldman Sachs Group reduced their price objective on shares of Kronos Worldwide from $11.00 to $8.50 and set a "sell" rating on the stock in a research note on Wednesday, May 14th. Finally, Wall Street Zen downgraded shares of Kronos Worldwide from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th.

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.