Titan International Inc (TWI) Expected to Post Earnings of $0.02 Per Share

Wall Street brokerages expect Titan International Inc (NYSE:TWI) to post earnings of $0.02 per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Titan International’s earnings, with the highest EPS estimate coming in at $0.05 and the lowest estimate coming in at ($0.01). Titan International reported earnings of ($0.09) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 122.2%. The firm is scheduled to issue its next quarterly earnings results on Thursday, November 1st.

On average, analysts expect that Titan International will report full year earnings of $0.23 per share for the current year, with EPS estimates ranging from $0.18 to $0.28. For the next year, analysts expect that the business will report earnings of $0.45 per share, with EPS estimates ranging from $0.25 to $0.65. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Titan International.

Titan International (NYSE:TWI) last released its quarterly earnings results on Friday, August 3rd. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.16). The company had revenue of $428.90 million for the quarter, compared to the consensus estimate of $427.32 million. Titan International had a negative net margin of 1.47% and a positive return on equity of 3.38%. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.17) EPS.

A number of equities analysts have recently weighed in on TWI shares. ValuEngine lowered Titan International from a “hold” rating to a “sell” rating in a research note on Thursday, June 21st. William Blair lowered Titan International from an “outperform” rating to a “market perform” rating and set a $21.00 price objective for the company. in a research note on Friday, August 3rd. Jefferies Financial Group dropped their price objective on Titan International from $12.00 to $8.50 and set a “hold” rating for the company in a research note on Tuesday, August 7th. Zacks Investment Research lowered Titan International from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 9th. Finally, TheStreet lowered Titan International from a “c” rating to a “d+” rating in a research note on Thursday, August 23rd. Two analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $14.50.

In other news, Director Maurice M. Taylor, Jr. bought 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The shares were bought at an average cost of $7.20 per share, for a total transaction of $720,000.00. Following the completion of the transaction, the director now owns 549,870 shares of the company’s stock, valued at $3,959,064. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David A. Martin bought 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The stock was purchased at an average price of $7.21 per share, for a total transaction of $144,200.00. The disclosure for this purchase can be found here. 17.30% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the stock. Bayesian Capital Management LP purchased a new stake in shares of Titan International in the first quarter worth about $130,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Titan International in the second quarter worth about $113,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Titan International in the first quarter worth about $141,000. OMERS ADMINISTRATION Corp purchased a new stake in Titan International during the first quarter valued at approximately $165,000. Finally, Paloma Partners Management Co purchased a new stake in Titan International during the second quarter valued at approximately $149,000. Institutional investors own 86.41% of the company’s stock.

Shares of NYSE TWI traded down $0.01 during mid-day trading on Wednesday, reaching $7.40. The company’s stock had a trading volume of 143,610 shares, compared to its average volume of 320,575. The firm has a market cap of $444.44 million, a price-to-earnings ratio of -15.06 and a beta of 1.52. The company has a quick ratio of 1.14, a current ratio of 2.05 and a debt-to-equity ratio of 1.37. Titan International has a 52 week low of $6.71 and a 52 week high of $14.53.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be given a $0.005 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.27%. Titan International’s dividend payout ratio is currently -4.08%.

Titan International Company Profile

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.

Read More: Average Daily Trade Volume – What You Need to Know

Get a free copy of the Zacks research report on Titan International (TWI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Titan International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Titan International and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply