Wall Street brokerages expect Titan International Inc (NYSE:TWI) to report $356.24 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Titan International’s earnings. The lowest sales estimate is $355 million and the highest is $358.61 million. Titan International posted sales of $330.21 million in the same quarter last year, which suggests a positive year over year growth rate of 7.9%. The firm is scheduled to announce its next quarterly earnings results on Thursday, August 3rd.
On average, analysts expect that Titan International will report full year sales of $356.24 million for the current financial year, with estimates ranging from $1.28 billion to $1.38 billion. For the next year, analysts forecast that the firm will post sales of $1.45 billion per share, with estimates ranging from $1.35 billion to $1.56 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 announced its quarterly earnings data on Thursday, May 4th. The industrial products company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.09) by $0.09. Titan International had a negative return on equity of 12.49% and a negative net margin of 6.86%. The business had revenue of $357.50 million for the quarter, compared to the consensus estimate of $332.14 million. During the same quarter in the prior year, the company earned ($0.33) earnings per share. Titan International’s quarterly revenue was up 11.1% compared to the same quarter last year.
TWI has been the subject of several recent analyst reports. William Blair upgraded Titan International from a “market perform” rating to an “outperform” rating in a research report on Friday, January 27th. Zacks Investment Research upgraded Titan International from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Wednesday, February 1st. Feltl & Co. restated a “buy” rating on shares of Titan International in a research report on Thursday, March 16th. Jefferies Group LLC restated an “underperform” rating and set a $14.00 target price (up from $11.50) on shares of Titan International in a research report on Friday, April 14th. Finally, Sidoti upgraded Titan International from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $14.33.
Large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of Titan International by 19.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,281,067 shares of the industrial products company’s stock valued at $36,781,000 after buying an additional 527,385 shares during the period. BlackRock Fund Advisors raised its stake in shares of Titan International by 9.0% in the third quarter. BlackRock Fund Advisors now owns 3,218,690 shares of the industrial products company’s stock valued at $32,573,000 after buying an additional 265,269 shares during the period. Renaissance Technologies LLC raised its stake in shares of Titan International by 8.0% in the fourth quarter. Renaissance Technologies LLC now owns 2,606,000 shares of the industrial products company’s stock valued at $29,213,000 after buying an additional 193,200 shares during the period. Allianz Asset Management AG purchased a new stake in shares of Titan International during the fourth quarter valued at about $12,321,000. Finally, State Street Corp raised its stake in shares of Titan International by 7.0% in the fourth quarter. State Street Corp now owns 968,171 shares of the industrial products company’s stock valued at $10,852,000 after buying an additional 62,930 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.
Shares of Titan International (NYSE:TWI) traded up 0.94% during mid-day trading on Wednesday, hitting $10.71. The company had a trading volume of 45,382 shares. The company’s market capitalization is $638.93 million. Titan International has a one year low of $5.76 and a one year high of $14.23. The company’s 50-day moving average is $10.12 and its 200 day moving average is $11.30.
The company also recently declared a quarterly dividend, which was paid on Friday, April 14th. Shareholders of record on Friday, March 31st were paid a dividend of $0.005 per share. This represents a $0.02 annualized dividend and a yield of 0.19%. The ex-dividend date was Wednesday, March 29th. Titan International’s dividend payout ratio (DPR) is currently -1.23%.
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About Titan International
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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