Titan International, Inc. (NYSE:TWI) Expected to Announce Quarterly Sales of $355.05 Million
Equities analysts expect that Titan International, Inc. (NYSE:TWI) will announce sales of $355.05 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Titan International’s earnings, with the lowest sales estimate coming in at $355.00 million and the highest estimate coming in at $355.10 million. Titan International posted sales of $330.21 million during the same quarter last year, which would indicate a positive year over year growth rate of 7.5%. The business is scheduled to issue its next earnings report before the market opens on Thursday, August 3rd.
According to Zacks, analysts expect that Titan International will report full-year sales of $355.05 million for the current fiscal year, with estimates ranging from $1.28 billion to $1.37 billion. For the next financial year, analysts forecast that the firm will post sales of $1.41 billion per share, with estimates ranging from $1.35 billion to $1.46 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Titan International.
Titan International (NYSE:TWI) last announced its earnings results on Thursday, May 4th. The industrial products company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by $0.09. The business had revenue of $357.50 million for the quarter, compared to analysts’ expectations of $332.14 million. Titan International had a negative return on equity of 11.22% and a negative net margin of 3.12%. The business’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.33) earnings per share.
Several equities research analysts recently issued reports on TWI shares. Sidoti raised Titan International from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 18th. Jefferies Group LLC reissued an “underperform” rating and set a $14.00 price target (up from $11.50) on shares of Titan International in a research report on Friday, April 14th. Zacks Investment Research lowered Titan International from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. Finally, TheStreet raised Titan International from a “d+” rating to a “c-” rating in a research report on Friday, June 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $14.00.
Titan International (NYSE TWI) opened at 12.14 on Friday. Titan International has a 12 month low of $5.98 and a 12 month high of $14.23. The stock’s 50 day moving average is $11.90 and its 200-day moving average is $11.41. The stock’s market capitalization is $724.24 million.
The company also recently declared a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were given a dividend of $0.005 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.16%. The ex-dividend date was Wednesday, June 28th. Titan International’s dividend payout ratio is currently -2.78%.
A number of large investors have recently modified their holdings of the company. Russell Investments Group Ltd. bought a new stake in shares of Titan International during the fourth quarter valued at $580,000. Comerica Bank raised its stake in shares of Titan International by 5.2% in the fourth quarter. Comerica Bank now owns 46,408 shares of the industrial products company’s stock valued at $491,000 after buying an additional 2,310 shares in the last quarter. 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 in the last quarter. 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 in the last quarter. Finally, FMR LLC bought a new stake in shares of Titan International during the fourth quarter valued at $3,443,000. 85.16% of the stock is currently owned by hedge funds and other institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Titan International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Titan International Inc. and related companies with MarketBeat.com's FREE daily email newsletter.