Titan America (NYSE:TTAM) Announces Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Titan America (NYSE:TTAM) announced its earnings results on Tuesday. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.06), FiscalAI reports. Titan America had a return on equity of 18.35% and a net margin of 11.08%.The company had revenue of $470.63 million for the quarter.

Titan America Stock Performance

Titan America stock traded up $0.06 during mid-day trading on Tuesday, reaching $17.53. 305,067 shares of the company’s stock were exchanged, compared to its average volume of 302,784. The firm has a market capitalization of $3.23 billion, a PE ratio of 17.35, a P/E/G ratio of 1.10 and a beta of 0.97. The company has a quick ratio of 1.96, a current ratio of 2.99 and a debt-to-equity ratio of 0.41. The business’s fifty day simple moving average is $16.99 and its 200 day simple moving average is $16.85. Titan America has a one year low of $13.29 and a one year high of $19.57.

Titan America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Thursday, June 18th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Thursday, June 18th. Titan America’s dividend payout ratio (DPR) is presently 15.84%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TTAM. Millennium Management LLC bought a new stake in shares of Titan America in the first quarter valued at approximately $9,188,000. Woodline Partners LP purchased a new position in Titan America in the 1st quarter valued at approximately $2,028,000. Jane Street Group LLC bought a new stake in Titan America during the 1st quarter valued at $1,266,000. Geode Capital Management LLC purchased a new stake in shares of Titan America during the second quarter worth $3,591,000. Finally, JPMorgan Chase & Co. bought a new position in shares of Titan America in the second quarter worth $149,000.

Analysts Set New Price Targets

A number of research firms recently commented on TTAM. Zacks Research raised Titan America from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 21st. Citigroup raised their price target on shares of Titan America from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. HSBC lowered shares of Titan America from a “buy” rating to a “hold” rating and set a $18.50 price objective on the stock. in a research note on Thursday, May 7th. Finally, Wall Street Zen downgraded shares of Titan America from a “buy” rating to a “hold” rating in a research note on Monday, April 13th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Titan America currently has an average rating of “Hold” and an average price target of $19.38.

Titan America Company Profile

Titan America is a leading vertically integrated, multi-regional manufacturer and supplier of heavy building materials and services operating primarily on the Eastern Seaboard of the United States (the “Eastern Seaboard”). We are a leading provider of materials that contribute to lower carbon emissions than traditional building materials and/or beneficial reuse of waste materials. We are a leading provider of heavy building materials in Florida, the New York and New Jersey Metropolitan area (“Metro New York”), Virginia, North Carolina and South Carolina (Virginia and the Carolinas, together with Metro New York and their adjacent areas, the “Mid-Atlantic”).