Brokers Issue Forecasts for Kronos Worldwide Inc’s Q3 2017 Earnings (KRO)
Kronos Worldwide Inc (NYSE:KRO) – Analysts at SunTrust Banks lifted their Q3 2017 earnings estimates for shares of Kronos Worldwide in a note issued to investors on Tuesday. SunTrust Banks analyst J. Sheehan now anticipates that the specialty chemicals company will post earnings per share of $0.45 for the quarter, up from their previous forecast of $0.42. SunTrust Banks currently has a “Hold” rating and a $24.00 target price on the stock. SunTrust Banks also issued estimates for Kronos Worldwide’s Q4 2017 earnings at $0.42 EPS and FY2017 earnings at $1.51 EPS.
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Several other research analysts have also recently issued reports on KRO. BidaskClub cut shares of Kronos Worldwide from a “buy” rating to a “hold” rating in a report on Saturday, June 17th. Zacks Investment Research cut shares of Kronos Worldwide from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 12th. Barclays PLC increased their price target on shares of Kronos Worldwide from $15.00 to $17.00 and gave the stock an “underweight” rating in a report on Thursday, August 10th. Finally, ValuEngine raised shares of Kronos Worldwide from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Kronos Worldwide presently has an average rating of “Hold” and an average target price of $21.67.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 21st. Investors of record on Tuesday, September 5th were issued a dividend of $0.15 per share. The ex-dividend date was Thursday, August 31st. This represents a $0.60 annualized dividend and a yield of 2.41%. Kronos Worldwide’s dividend payout ratio is currently 24.90%.
A number of hedge funds and other institutional investors have recently bought and sold shares of KRO. Nationwide Fund Advisors raised its holdings in Kronos Worldwide by 10.0% during the first quarter. Nationwide Fund Advisors now owns 14,573 shares of the specialty chemicals company’s stock worth $239,000 after purchasing an additional 1,326 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Kronos Worldwide by 347.2% during the first quarter. Wells Fargo & Company MN now owns 143,076 shares of the specialty chemicals company’s stock worth $2,351,000 after purchasing an additional 111,079 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Kronos Worldwide by 2.9% during the first quarter. Bank of New York Mellon Corp now owns 1,141,042 shares of the specialty chemicals company’s stock worth $18,747,000 after purchasing an additional 31,669 shares in the last quarter. Karp Capital Management Corp purchased a new position in Kronos Worldwide during the first quarter worth about $517,000. Finally, Parametric Portfolio Associates LLC raised its holdings in Kronos Worldwide by 9.3% during the first quarter. Parametric Portfolio Associates LLC now owns 119,679 shares of the specialty chemicals company’s stock worth $1,966,000 after purchasing an additional 10,148 shares in the last quarter. 15.41% of the stock is owned by hedge funds and other institutional investors.
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.
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