Venator Materials (VNTR) Stock Price Down 7.4% on Disappointing Earnings

Shares of Venator Materials PLC (NYSE:VNTR) traded down 7.4% on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $18.68 and last traded at $19.55. 3,194,238 shares changed hands during trading, an increase of 249% from the average session volume of 916,106 shares. The stock had previously closed at $21.12.

The company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.05). The business had revenue of $528.00 million for the quarter, compared to the consensus estimate of $539.36 million. The business’s quarterly revenue was up 7.5% compared to the same quarter last year.

A number of research firms have recently weighed in on VNTR. Citigroup boosted their target price on shares of Venator Materials from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, October 31st. Alembic Global Advisors restated a “buy” rating and issued a $32.00 target price on shares of Venator Materials in a report on Monday, November 20th. JPMorgan Chase & Co. boosted their target price on shares of Venator Materials from $23.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, October 30th. UBS Group boosted their target price on shares of Venator Materials from $22.00 to $27.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. Finally, Jefferies Group boosted their target price on shares of Venator Materials from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, November 7th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $27.31.

In related news, major shareholder Corp Huntsman sold 21,764,800 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $21.66, for a total transaction of $471,425,568.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Large investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. bought a new position in Venator Materials during the 3rd quarter valued at about $1,501,000. Highbridge Capital Management LLC bought a new position in Venator Materials during the 3rd quarter valued at about $3,013,000. JPMorgan Chase & Co. bought a new position in Venator Materials during the 3rd quarter valued at about $6,632,000. Engineers Gate Manager LP bought a new position in Venator Materials during the 3rd quarter valued at about $1,533,000. Finally, Jennison Associates LLC grew its holdings in Venator Materials by 47.5% during the 4th quarter. Jennison Associates LLC now owns 3,116,076 shares of the company’s stock valued at $68,928,000 after purchasing an additional 1,003,972 shares during the last quarter. Institutional investors own 27.84% of the company’s stock.

The company has a quick ratio of 1.25, a current ratio of 2.03 and a debt-to-equity ratio of 0.74.

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About Venator Materials

Venator Materials PLC is a manufacturer and marketer of chemical products. The Company is engaged in manufacturing titanium dioxide (TiO2), functional additives, color pigments, timber treatment and water treatment products. It operates through two segments: Titanium Dioxide and Performance Additives.

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