Brokerages Anticipate Titan International, Inc. (TWI) to Announce $0.01 Earnings Per Share

Analysts expect that Titan International, Inc. (NYSE:TWI) will announce $0.01 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Titan International’s earnings, with estimates ranging from $0.00 to $0.02. Titan International posted earnings per share of ($0.18) in the same quarter last year, which would suggest a positive year-over-year growth rate of 105.6%. The business is expected to report its next earnings results on Thursday, November 2nd.

According to Zacks, analysts expect that Titan International will report full year earnings of ($0.26) per share for the current fiscal year, with EPS estimates ranging from ($0.30) to ($0.21). For the next year, analysts forecast that the company will post earnings of $0.33 per share, with EPS estimates ranging from $0.15 to $0.50. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that follow Titan International.

Titan International (NYSE:TWI) last posted its earnings results on Thursday, August 3rd. The industrial products company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.18). Titan International had a negative return on equity of 10.79% and a negative net margin of 3.23%. The business had revenue of $364.40 million for the quarter, compared to analysts’ expectations of $352.13 million. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. Titan International’s quarterly revenue was up 10.4% compared to the same quarter last year.

A number of equities research analysts have commented on the company. ValuEngine cut Titan International from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th. Zacks Investment Research cut Titan International from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. BidaskClub raised Titan International from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, TheStreet raised Titan International from a “d+” rating to a “c-” rating in a report on Friday, June 30th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $14.00.

Titan International (TWI) opened at 9.14 on Wednesday. The company’s 50-day moving average price is $9.83 and its 200 day moving average price is $10.82. The stock’s market capitalization is $545.66 million. Titan International has a 52-week low of $7.97 and a 52-week high of $14.23.

Several hedge funds have recently modified their holdings of TWI. Louisiana State Employees Retirement System increased its holdings in shares of Titan International by 12.5% in the first quarter. Louisiana State Employees Retirement System now owns 19,800 shares of the industrial products company’s stock worth $205,000 after purchasing an additional 2,200 shares during the last quarter. Strs Ohio bought a new stake in shares of Titan International in the first quarter worth about $587,000. Capital Fund Management S.A. bought a new stake in shares of Titan International in the first quarter worth about $819,000. Bank of New York Mellon Corp increased its holdings in shares of Titan International by 7.7% in the first quarter. Bank of New York Mellon Corp now owns 616,894 shares of the industrial products company’s stock worth $6,378,000 after purchasing an additional 44,300 shares during the last quarter. Finally, Comerica Bank increased its holdings in shares of Titan International by 4.3% in the first quarter. Comerica Bank now owns 48,382 shares of the industrial products company’s stock worth $527,000 after purchasing an additional 1,974 shares during the last quarter. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

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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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