Zacks: Analysts Expect Titan International Inc (NYSE:TWI) Will Announce Quarterly Sales of $443.75 Million

Wall Street analysts expect that Titan International Inc (NYSE:TWI) will report sales of $443.75 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Titan International’s earnings, with estimates ranging from $438.00 million to $449.50 million. Titan International posted sales of $428.90 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.5%. The business is scheduled to announce its next quarterly earnings results on Friday, August 2nd.

According to Zacks, analysts expect that Titan International will report full-year sales of $1.65 billion for the current fiscal year, with estimates ranging from $1.64 billion to $1.67 billion. For the next fiscal year, analysts expect that the company will report sales of $1.73 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Titan International.

Titan International (NYSE:TWI) last issued its quarterly earnings results on Friday, May 3rd. The industrial products company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.13). Titan International had a negative net margin of 0.77% and a negative return on equity of 2.44%. The company had revenue of $410.40 million for the quarter, compared to the consensus estimate of $429.30 million. During the same quarter in the previous year, the business earned $0.23 earnings per share. Titan International’s revenue was down 3.5% compared to the same quarter last year.

Several equities research analysts recently commented on the company. Zacks Investment Research cut Titan International from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. Sidoti set a $8.00 price objective on Titan International and gave the company a “buy” rating in a research report on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $10.94.

Large investors have recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of Titan International by 1.8% during the 4th quarter. BlackRock Inc. now owns 7,792,235 shares of the industrial products company’s stock valued at $36,311,000 after buying an additional 134,853 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Titan International by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,351,692 shares of the industrial products company’s stock valued at $20,279,000 after buying an additional 31,199 shares in the last quarter. Fishman Jay A Ltd. MI lifted its position in shares of Titan International by 1.4% during the 1st quarter. Fishman Jay A Ltd. MI now owns 2,816,972 shares of the industrial products company’s stock valued at $16,817,000 after buying an additional 38,450 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its position in shares of Titan International by 18.5% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 1,090,000 shares of the industrial products company’s stock valued at $6,507,000 after buying an additional 170,000 shares in the last quarter. Finally, Rutabaga Capital Management LLC MA purchased a new position in shares of Titan International during the 1st quarter valued at about $5,997,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Shares of Titan International stock traded down $0.03 during trading on Wednesday, hitting $4.30. 6,558 shares of the company’s stock traded hands, compared to its average volume of 447,068. The company has a quick ratio of 0.97, a current ratio of 1.91 and a debt-to-equity ratio of 1.49. Titan International has a 1 year low of $3.82 and a 1 year high of $11.00. The stock has a market cap of $259.80 million, a PE ratio of 15.93 and a beta of 2.08. The stock has a 50-day simple moving average of $4.48.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.005 dividend. The ex-dividend date is Thursday, June 27th. This represents a $0.02 annualized dividend and a yield of 0.47%. Titan International’s payout ratio is 7.41%.

Titan International Company Profile

Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in North America, Europe, Latin America, the Commonwealth of Independent States region, and internationally. The company operates in three segments: Agricultural, Earthmoving/Construction, and Consumer.

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