Kronos Worldwide, Inc. (KRO) Posts Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Kronos Worldwide, Inc. (NYSE:KRO) issued its earnings results on Monday. The specialty chemicals company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.08. Kronos Worldwide had a negative net margin of 0.02% and a negative return on equity of 0.07%. The company had revenue of $369.80 million during the quarter, compared to analysts’ expectations of $350 million. During the same period last year, the company posted ($0.03) earnings per share. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year.

Shares of Kronos Worldwide (NYSE:KRO) traded up 1.61% during trading on Friday, hitting $19.58. 349,349 shares of the company’s stock were exchanged. The firm has a market capitalization of $2.27 billion, a PE ratio of 27.04 and a beta of 2.24. The stock’s 50 day moving average is $17.25 and its 200 day moving average is $13.96. Kronos Worldwide has a 1-year low of $4.70 and a 1-year high of $19.96.

Earnings History for Kronos Worldwide (NYSE:KRO)

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Tuesday, June 6th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, June 2nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.11%. Kronos Worldwide’s dividend payout ratio (DPR) is presently -5,994.01%.

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Several hedge funds have recently bought and sold shares of KRO. Schwab Charles Investment Management Inc. increased its stake in Kronos Worldwide by 5.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 87,535 shares of the specialty chemicals company’s stock valued at $1,439,000 after buying an additional 4,617 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Kronos Worldwide by 5.5% in the first quarter. Geode Capital Management LLC now owns 169,827 shares of the specialty chemicals company’s stock valued at $2,790,000 after buying an additional 8,786 shares in the last quarter. Morgan Stanley boosted its stake in Kronos Worldwide by 1.3% in the first quarter. Morgan Stanley now owns 204,942 shares of the specialty chemicals company’s stock valued at $3,367,000 after buying an additional 2,650 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Kronos Worldwide by 3.2% in the first quarter. Vanguard Group Inc. now owns 1,624,570 shares of the specialty chemicals company’s stock valued at $26,691,000 after buying an additional 50,903 shares during the last quarter. 13.80% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have issued reports on KRO. Barclays PLC increased their target price on shares of Kronos Worldwide from $7.00 to $12.00 and gave the company an “underweight” rating in a report on Tuesday, March 14th. Zacks Investment Research upgraded shares of Kronos Worldwide from a “hold” rating to a “strong-buy” rating and set a $18.00 price target on the stock in a research report on Friday, March 17th. Standpoint Research lowered shares of Kronos Worldwide from a “buy” rating to a “hold” rating in a research report on Tuesday, March 28th. Finally, TheStreet upgraded shares of Kronos Worldwide from a “c” rating to a “b-” rating in a research report on Wednesday, March 29th.

About Kronos Worldwide

Kronos Worldwide, Inc (Kronos) is a producer and marketer of titanium dioxide (TiO2) pigments, a base industrial product that is used in a range of applications. The Company, along with its distributors and agents, sells and provides technical services for its products with sales in Europe and North America.

12 Month Chart for NYSE:KRO

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