Kronos Worldwide, Inc. (NYSE:KRO) announced a quarterly dividend on Wednesday, August 8th, Wall Street Journal reports. Stockholders of record on Tuesday, September 4th will be paid a dividend of 0.17 per share by the specialty chemicals company on Thursday, September 13th. This represents a $0.68 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Friday, August 31st.
Kronos Worldwide has a dividend payout ratio of 26.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Kronos Worldwide to earn $2.41 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 28.2%.
Shares of NYSE:KRO opened at $20.46 on Thursday. The company has a market capitalization of $2.41 billion, a P/E ratio of 10.88, a PEG ratio of 1.60 and a beta of 2.44. Kronos Worldwide has a fifty-two week low of $19.07 and a fifty-two week high of $29.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.08 and a current ratio of 4.64.
Kronos Worldwide (NYSE:KRO) last issued its earnings results on Tuesday, August 7th. The specialty chemicals company reported $0.67 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.10). The firm had revenue of $471.80 million during the quarter. Kronos Worldwide had a net margin of 14.81% and a return on equity of 40.78%. analysts predict that Kronos Worldwide will post 2.6 earnings per share for the current fiscal year.
Several brokerages recently weighed in on KRO. Deutsche Bank raised shares of Kronos Worldwide from a “hold” rating to a “buy” rating and raised their target price for the company from $8.00 to $28.00 in a report on Wednesday, May 23rd. Zacks Investment Research cut shares of Kronos Worldwide from a “buy” rating to a “sell” rating in a report on Wednesday, May 16th. ValuEngine downgraded Kronos Worldwide from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th. SunTrust Banks reaffirmed a “hold” rating and set a $24.00 price target on shares of Kronos Worldwide in a research note on Friday, July 20th. Finally, Barclays lowered their price target on Kronos Worldwide from $26.00 to $24.00 and set an “underweight” rating for the company in a report on Monday, August 13th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. Kronos Worldwide has an average rating of “Hold” and a consensus target price of $25.50.
About Kronos Worldwide
Kronos Worldwide, Inc produces and markets titanium dioxide pigments (TiO2) in Europe, North America, the Asia Pacific, and internationally. It produces TiO2 in two crystalline forms, rutile and anatase to impart whiteness, brightness, opacity, and durability for various products, such as paints, coatings, plastics, paper, fibers, and ceramics, as well as for various specialty products, such as inks, food, and cosmetics.
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