Shares of Titan America SA (NYSE: TTAM) have received a consensus recommendation of “Moderate Buy” from nine ratings firms currently covering the stock, according to Marketbeat Ratings. The analysts’ assessments include four hold ratings, four buy ratings, and one strong buy recommendation. The average twelve-month target price set by these brokerages is $17.29.
Recent reports from several research analysts have highlighted changes in their price objectives for Titan America. On April 21, Stifel Nicolaus lowered its price target from $16.00 to $15.00, maintaining a buy rating for the company. Similarly, on March 27, Bank of America adjusted its price objective from $16.50 to $15.50, issuing a neutral rating. Following this trend, The Goldman Sachs Group revised their price target on March 28 from $19.00 to $16.50, also assigning a neutral rating.
Recent Trading Activity and Financial Performance
Titan America’s shares opened at $14.08 on Tuesday, reflecting a modest increase of 0.5%. The company’s 50-day simple moving average stands at $13.57. Over the past year, Titan America has experienced a low of $10.80 and a high of $17.78. Financially, Titan America reported a quick ratio of 1.36, a current ratio of 2.30, and a debt-to-equity ratio of 0.45.
On May 5, 2024, Titan America announced its quarterly earnings, reporting earnings per share (EPS) of $0.19, surpassing analysts’ expectations of $0.17 by $0.02. The company’s revenue for the quarter reached $392.44 million, slightly exceeding the forecast of $391.96 million. Despite this positive performance, revenue was down by 1.9% compared to the same quarter last year.
Dividend Announcement
In addition to its earnings report, Titan America recently declared a dividend of $0.04 per share, which was paid on June 25, 2024. Shareholders of record on June 4, 2024, received this dividend, with the ex-dividend date also marked on June 4.
Titan America is a prominent vertically integrated manufacturer and supplier of heavy building materials, primarily operating along the Eastern Seaboard of the United States. The company emphasizes providing materials that contribute to reduced carbon emissions compared to traditional building materials, along with promoting the beneficial reuse of waste materials.
Investors and analysts remain attentive to Titan America’s performance and market position as it navigates the evolving landscape of the construction materials industry. For ongoing updates, stakeholders can subscribe to a daily newsletter from MarketBeat.com, delivering concise summaries of news and ratings related to Titan America and similar companies.
