Analysts Expect Titan International, Inc. (TWI) Will Announce Quarterly Sales of $330.45 Million
Brokerages expect Titan International, Inc. (NYSE:TWI) to post $330.45 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Titan International’s earnings. The highest sales estimate is $330.90 million and the lowest is $330.00 million. Titan International reported sales of $306.20 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 7.9%. The firm is scheduled to announce its next earnings results on Thursday, November 2nd.
On average, analysts expect that Titan International will report full year sales of $330.45 million for the current year, with estimates ranging from $1.28 billion to $1.38 billion. For the next year, analysts expect that the firm will report sales of $1.43 billion per share, with estimates ranging from $1.35 billion to $1.49 billion. Zacks’ sales averages are an 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 Thursday, August 3rd. The industrial products company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 10.79% and a negative net margin of 3.23%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.04) EPS.
Several equities analysts have recently commented on the stock. BidaskClub cut shares of Titan International from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. ValuEngine cut shares of Titan International from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th. Jefferies Group LLC restated a “hold” rating and set a $10.50 price target on shares of Titan International in a report on Friday. Zacks Investment Research cut shares of Titan International from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Finally, TheStreet upgraded shares of Titan International from a “d+” rating to a “c-” rating in a report on Friday, June 30th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $12.75.
Institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue grew its holdings in shares of Titan International by 94.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 9,447 shares of the industrial products company’s stock valued at $113,000 after acquiring an additional 4,597 shares in the last quarter. Mason Street Advisors LLC grew its holdings in shares of Titan International by 17.7% during the 1st quarter. Mason Street Advisors LLC now owns 11,264 shares of the industrial products company’s stock valued at $116,000 after acquiring an additional 1,696 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of Titan International by 0.9% during the 1st quarter. Stifel Financial Corp now owns 11,363 shares of the industrial products company’s stock valued at $119,000 after acquiring an additional 104 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of Titan International during the 2nd quarter valued at $125,000. Finally, IndexIQ Advisors LLC grew its holdings in shares of Titan International by 0.6% during the 2nd quarter. IndexIQ Advisors LLC now owns 11,723 shares of the industrial products company’s stock valued at $141,000 after acquiring an additional 66 shares in the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.
Shares of Titan International (NYSE:TWI) traded down 2.65% on Tuesday, hitting $9.90. The company had a trading volume of 154,606 shares. The company has a 50 day moving average of $9.31 and a 200-day moving average of $10.54. The company’s market cap is $591.03 million. Titan International has a 12-month low of $7.97 and a 12-month high of $14.23.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.005 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend is Thursday, September 28th. Titan International’s dividend payout ratio is currently -2.44%.
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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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