Titan International, Inc. (TWI) Announces $0.01 Quarterly Dividend
Titan International, Inc. (NYSE:TWI) announced a quarterly dividend on Thursday, September 14th, Wall Street Journal reports. Stockholders of record on Friday, September 29th will be paid a dividend of 0.005 per share by the industrial products company on Friday, October 13th. This represents a $0.02 annualized dividend and a dividend yield of 0.21%. The ex-dividend date is Thursday, September 28th.
Titan International has a dividend payout ratio of -8.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Titan International to earn $0.27 per share next year, which means the company should continue to be able to cover its $0.02 annual dividend with an expected future payout ratio of 7.4%.
Shares of Titan International (NYSE:TWI) traded up 3.07% during mid-day trading on Thursday, hitting $9.74. The stock had a trading volume of 252,045 shares. The stock’s market cap is $581.48 million. Titan International has a 12-month low of $7.97 and a 12-month high of $14.23. The firm’s 50-day moving average price is $9.75 and its 200 day moving average price is $10.79.
Titan International (NYSE:TWI) last released its earnings results on Thursday, August 3rd. The industrial products company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.18). The firm had revenue of $364.40 million during the quarter, compared to analyst estimates of $352.13 million. Titan International had a negative net margin of 3.23% and a negative return on equity of 10.79%. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period last year, the business posted ($0.04) earnings per share. Equities analysts forecast that Titan International will post ($0.26) EPS for the current fiscal year.
A number of equities research analysts recently commented on the company. Zacks Investment Research raised Titan International from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research note on Friday, June 30th. TheStreet raised Titan International from a “d+” rating to a “c-” rating in a research note on Friday, June 30th. BidaskClub cut Titan International from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Finally, ValuEngine cut Titan International from a “hold” rating to a “sell” rating in a research note on Wednesday, August 16th. Three analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Titan International currently has an average rating of “Hold” and a consensus target price of $14.00.
TRADEMARK VIOLATION WARNING: “Titan International, Inc. (TWI) Announces $0.01 Quarterly Dividend” was first published by American Banking News and is owned by of American Banking News. If you are accessing this piece on another site, it was illegally copied and reposted in violation of United States and international trademark and copyright legislation. The original version of this piece can be viewed at https://www.americanbankingnews.com/2017/09/14/titan-international-inc-twi-announces-0-01-quarterly-dividend.html.
Titan International Company Profile
Titan International, Inc is a wheel, tire, and undercarriage industrial manufacturer and supplier. The Company’s segments are agricultural, earthmoving/construction, and consumer. The Company produces a range of products to meet the specifications of original equipment manufacturers (OEMs) and aftermarket customers in the agricultural, earthmoving/construction, and consumer markets.
Receive News & Ratings for Titan International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Titan International Inc. and related companies with MarketBeat.com's FREE daily email newsletter.