Shares of Titan America SA (NYSE:TTAM) have garnered an average recommendation of “Moderate Buy” from nine ratings firms currently monitoring the stock, according to Marketbeat Ratings. This consensus reflects a mix of opinions, with four analysts recommending a hold, four suggesting a buy, and one advocating for a strong buy.
The average twelve-month target price set by these brokerages stands at $17.29. Recent reports from research analysts indicate varying perspectives on the stock’s valuation. For instance, Stifel Nicolaus lowered its price target from $16.00 to $15.00, while maintaining a “buy” rating in a report released on April 21, 2024. Similarly, Bank of America adjusted its target from $16.50 to $15.50 and issued a “neutral” rating on March 27, 2024. In another adjustment, The Goldman Sachs Group reduced its price target from $19.00 to $16.50, also providing a “neutral” rating in a report dated March 28, 2024.
Current Trading Status and Financial Performance
Trading activity for Titan America has shown a slight increase, with shares rising by 0.5% to open at $14.08 on Tuesday. The company’s 50-day simple moving average currently stands at $13.57. Over the past year, Titan America’s shares have fluctuated, reaching a low of $10.80 and a high of $17.78. Key financial ratios indicate a quick ratio of 1.36, a current ratio of 2.30, and a debt-to-equity ratio of 0.45.
Titan America recently reported its quarterly earnings on May 5, 2024, achieving $0.19 earnings per share (EPS). This figure surpasses analysts’ consensus estimates of $0.17 by $0.02. The company’s revenue for the quarter reached $392.44 million, slightly above the expected $391.96 million, although it represents a 1.9% decline compared to the same period last year.
Dividend Announcement and Company Overview
In addition to its earnings report, Titan America announced a dividend of $0.04 per share, which was paid on June 25, 2024. Investors of record on June 4, 2024, received this dividend, with the ex-dividend date also occurring on the same day.
Titan America is recognized as a prominent vertically integrated manufacturer and supplier of heavy building materials and services, primarily operating along the Eastern Seaboard of the United States. The company is noted for providing materials that contribute to lower carbon emissions compared to traditional building materials, as well as facilitating the beneficial reuse of waste materials.
Investors and analysts alike continue to monitor Titan America’s performance closely, given its strategic importance in the building materials sector and its commitment to sustainability.
