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.
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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