Titan International, Inc. (TWI) to Issue $0.01 Quarterly Dividend
Titan International, Inc. (NYSE:TWI) declared a quarterly dividend on Thursday, September 14th, Wall Street Journal reports. Stockholders of record on Friday, September 29th will be given 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 of this dividend is Thursday, September 28th.
Titan International has a payout ratio of -8.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Titan International to earn $0.33 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 6.1%.
Titan International (NYSE TWI) opened at 9.74 on Friday. 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 stock has a 50 day moving average price of $9.59 and a 200 day moving average price of $10.77.
Titan International (NYSE:TWI) last announced its earnings results on Thursday, August 3rd. The industrial products company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.18). The business had revenue of $364.40 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.04) earnings per share. On average, analysts forecast that Titan International will post ($0.26) earnings per share for the current fiscal year.
A number of analysts recently weighed in on the stock. ValuEngine lowered shares of Titan International from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. Zacks Investment Research lowered shares of Titan International from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. BidaskClub raised shares of Titan International from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Finally, TheStreet raised shares of Titan International from a “d+” rating to a “c-” rating in a research report on Friday, June 30th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $14.00.
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.
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