Brokerages Expect Titan International Inc (TWI) Will Post Earnings of $0.04 Per Share

Wall Street brokerages expect that Titan International Inc (NYSE:TWI) will announce $0.04 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Titan International’s earnings. The lowest EPS estimate is $0.02 and the highest is $0.05. Titan International posted earnings per share of ($0.18) during the same quarter last year, which suggests a positive year-over-year growth rate of 122.2%. The firm is expected to issue its next quarterly earnings results on Thursday, May 3rd.

On average, analysts expect that Titan International will report full year earnings of $0.35 per share for the current financial year, with EPS estimates ranging from $0.30 to $0.40. For the next financial year, analysts forecast that the firm will post earnings of $0.68 per share, with EPS estimates ranging from $0.65 to $0.70. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Titan International.

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Titan International (NYSE:TWI) last issued its earnings results on Friday, February 23rd. The industrial products company reported ($0.10) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.03. Titan International had a negative return on equity of 6.94% and a negative net margin of 4.31%. The firm had revenue of $376.03 million for the quarter, compared to analysts’ expectations of $364.77 million. During the same quarter last year, the business earned ($0.25) earnings per share. The company’s revenue was up 22.4% compared to the same quarter last year.

A number of equities analysts have issued reports on the company. Zacks Investment Research cut Titan International from a “hold” rating to a “sell” rating in a report on Tuesday, February 13th. William Blair restated an “outperform” rating on shares of Titan International in a report on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $14.00.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TWI. Nationwide Fund Advisors raised its position in shares of Titan International by 69.7% during the third quarter. Nationwide Fund Advisors now owns 64,040 shares of the industrial products company’s stock worth $650,000 after purchasing an additional 26,300 shares during the period. Principal Financial Group Inc. raised its position in shares of Titan International by 1.7% during the third quarter. Principal Financial Group Inc. now owns 373,688 shares of the industrial products company’s stock worth $3,793,000 after purchasing an additional 6,143 shares during the period. Swiss National Bank raised its position in shares of Titan International by 14.4% during the third quarter. Swiss National Bank now owns 84,800 shares of the industrial products company’s stock worth $861,000 after purchasing an additional 10,700 shares during the period. BNP Paribas Arbitrage SA raised its position in Titan International by 40.4% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 27,304 shares of the industrial products company’s stock valued at $277,000 after buying an additional 7,862 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Titan International by 3.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 558,943 shares of the industrial products company’s stock valued at $5,673,000 after buying an additional 16,746 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors.

NYSE:TWI traded up $0.20 during midday trading on Tuesday, reaching $12.61. 467,012 shares of the company were exchanged, compared to its average volume of 229,747. The company has a current ratio of 2.10, a quick ratio of 1.19 and a debt-to-equity ratio of 1.31. Titan International has a one year low of $7.97 and a one year high of $14.53. The stock has a market cap of $754.22, a P/E ratio of -25.73 and a beta of 1.69.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Thursday, March 29th will be given a dividend of $0.005 per share. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend is Wednesday, March 28th. Titan International’s dividend payout ratio is currently -4.08%.

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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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