Titan America (NYSE:TTAM) Hits New 1-Year Low - What's Next?

Key Points

• Titan America shares fell to a new 52-week low of $12.88, well below their 50-day and 200-day moving averages of $14.57 and $15.84, respectively.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $18.50; Citigroup cut its target to $18, while Stifel raised its target to $19.
• The company’s latest quarterly earnings missed expectations, reporting $0.23 in EPS versus $0.29 forecast, although revenue increased 9.6% year over year. Titan America also paid a quarterly dividend of $0.04, implying a 1.2% yield.

Titan America SA (NYSE:TTAM - Get Free Report) reached a new 52-week low on Wednesday. The stock traded as low as $12.88 and last traded at $13.0860, with a volume of 2,441 shares changing hands. The stock had previously closed at $13.10.

Wall Street Analysts Forecast Growth

TTAM has been the topic of several analyst reports. Weiss Ratings cut shares of Titan America from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, September 17th. Citigroup decreased their target price on shares of Titan America from $21.00 to $18.00 and set a "buy" rating for the company in a research report on Friday, October 2nd. Finally, Stifel Nicolaus raised their price target on shares of Titan America from $18.00 to $19.00 and gave the stock a "hold" rating in a report on Wednesday, July 29th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $18.50.

Titan America Price Performance

The company has a quick ratio of 1.17, a current ratio of 2.08 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of 13.60, a price-to-earnings-growth ratio of 1.14 and a beta of 1.10. The business has a 50-day moving average price of $14.57 and a two-hundred day moving average price of $15.84.

Titan America (NYSE:TTAM - Get Free Report) last posted its earnings results on Tuesday, July 28th. The company reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($0.06). Titan America had a net margin of 10.35% and a return on equity of 17.03%. The company had revenue of $470.63 million during the quarter. During the same quarter in the previous year, the company earned $0.28 EPS. The firm's quarterly revenue was up 9.6% on a year-over-year basis. As a group, research analysts anticipate that Titan America SA will post 1.07 EPS for the current year.

Titan America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Thursday, October 1st were given a $0.04 dividend. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $0.16 annualized dividend and a yield of 1.2%. Titan America's payout ratio is currently 16.67%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TTAM. Renaissance Technologies LLC bought a new position in Titan America during the first quarter worth about $1,489,000. Lazard Asset Management LLC bought a new stake in shares of Titan America in the first quarter valued at approximately $1,452,000. Squarepoint Ops LLC bought a new stake in shares of Titan America in the second quarter valued at approximately $915,000. Principal Financial Group Inc. purchased a new stake in shares of Titan America during the 1st quarter valued at approximately $1,167,000. Finally, Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of Titan America during the 2nd quarter valued at approximately $7,623,000.

Titan America Company Profile

Titan America NYSE: TTAM is a building materials company serving the construction industry in the United States. The company produces and supplies cement, ready-mix concrete, aggregates, concrete blocks and related construction materials for infrastructure, commercial, residential and industrial projects.

Titan America operates across the eastern and southeastern United States, with activities that include cement manufacturing, aggregate extraction and processing, ready-mix concrete production and distribution.

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