Tronox Ltd (TROX) Expected to Announce Quarterly Sales of $414.80 Million

Equities research analysts predict that Tronox Ltd (NYSE:TROX) will announce $414.80 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Tronox’s earnings, with estimates ranging from $409.00 million to $420.60 million. Tronox posted sales of $442.00 million during the same quarter last year, which suggests a negative year over year growth rate of 6.2%. The company is scheduled to announce its next earnings report after the market closes on Thursday, May 9th.

According to Zacks, analysts expect that Tronox will report full-year sales of $2.65 billion for the current fiscal year, with estimates ranging from $2.51 billion to $2.80 billion. For the next fiscal year, analysts forecast that the business will report sales of $3.35 billion, with estimates ranging from $3.34 billion to $3.35 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Tronox.

Tronox (NYSE:TROX) last released its earnings results on Wednesday, February 27th. The company reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.02). The company had revenue of $429.00 million during the quarter, compared to analysts’ expectations of $423.07 million. Tronox had a negative net margin of 0.38% and a positive return on equity of 7.52%. The firm’s revenue was down 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.12 earnings per share.

A number of research analysts have weighed in on TROX shares. Barclays reiterated a “buy” rating and issued a $15.00 target price on shares of Tronox in a research note on Wednesday, March 13th. Zacks Investment Research upgraded shares of Tronox from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Wednesday, March 6th. ValuEngine upgraded shares of Tronox from a “strong sell” rating to a “sell” rating in a research note on Wednesday, March 20th. SunTrust Banks boosted their target price on shares of Tronox from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Finally, BMO Capital Markets set a $19.00 target price on shares of Tronox and gave the company a “buy” rating in a research note on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $20.00.

TROX opened at $14.90 on Friday. The company has a debt-to-equity ratio of 3.64, a quick ratio of 6.88 and a current ratio of 8.48. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 26.61 and a beta of 3.01. Tronox has a twelve month low of $6.46 and a twelve month high of $21.04.

In other Tronox news, Director Ginger M. Jones purchased 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average cost of $11.45 per share, for a total transaction of $229,000.00. Following the purchase, the director now owns 41,303 shares of the company’s stock, valued at approximately $472,919.35. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in TROX. Vanguard Group Inc lifted its stake in shares of Tronox by 0.3% during the 3rd quarter. Vanguard Group Inc now owns 8,318,340 shares of the company’s stock valued at $99,404,000 after buying an additional 27,035 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Tronox during the 3rd quarter valued at approximately $2,435,000. Legal & General Group Plc lifted its stake in shares of Tronox by 8.9% during the 3rd quarter. Legal & General Group Plc now owns 36,860 shares of the company’s stock valued at $440,000 after buying an additional 2,998 shares in the last quarter. Nordea Investment Management AB purchased a new stake in shares of Tronox during the 3rd quarter valued at approximately $3,727,000. Finally, Assenagon Asset Management S.A. bought a new stake in Tronox during the 4th quarter worth approximately $1,114,000. Institutional investors own 69.26% of the company’s stock.

About Tronox

Tronox Holdings plc engages in the mining, production, and marketing of inorganic minerals and chemicals in North America, South and Central America, Europe, the Middle East, Africa, and the Asia Pacific. It mines and processes titanium ore, zircon, and other minerals; and manufactures titanium dioxide pigments that add brightness and durability to paints, plastics, paper, and other everyday products.

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