Titan International Inc (NYSE:TWI) announced a quarterly dividend on Monday, June 11th, Wall Street Journal reports. Shareholders of record on Friday, June 29th will be given a dividend of 0.005 per share by the industrial products company on Monday, July 16th. This represents a $0.02 annualized dividend and a yield of 0.18%. The ex-dividend date of this dividend is Thursday, June 28th.
Titan International has a dividend payout ratio of -3.2% indicating that 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 $0.82 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 2.4%.
Titan International traded down $0.02, hitting $11.09, on Wednesday, according to Marketbeat. 100 shares of the company’s stock were exchanged, compared to its average volume of 245,857. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.06 and a quick ratio of 1.17. Titan International has a 52 week low of $7.97 and a 52 week high of $14.53. The stock has a market capitalization of $657.45 million, a PE ratio of -22.67 and a beta of 1.73.
Titan International (NYSE:TWI) last released its earnings results on Friday, May 4th. The industrial products company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.19. Titan International had a positive return on equity of 1.24% and a negative net margin of 2.31%. The firm had revenue of $425.38 million during the quarter, compared to analysts’ expectations of $407.27 million. During the same period in the prior year, the company earned ($0.18) earnings per share. The company’s quarterly revenue was up 19.0% on a year-over-year basis. sell-side analysts expect that Titan International will post 0.6 earnings per share for the current year.
TWI has been the subject of a number of research reports. Zacks Investment Research upgraded Titan International from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Wednesday, February 28th. ValuEngine upgraded Titan International from a “sell” rating to a “hold” rating in a research note on Friday, May 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $13.00.
About Titan International
Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, wheel and tire assemblies, and undercarriage systems and components for off-highway vehicles in the United States and internationally. It operates in three segments: Agricultural, Earthmoving/Construction, and Consumer.
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