Zacks: Brokerages Expect Titan International, Inc. (TWI) Will Announce Quarterly Sales of $330.45 Million
Wall Street analysts predict that Titan International, Inc. (NYSE:TWI) will post $330.45 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Titan International’s earnings. The highest sales estimate is $330.90 million and the lowest is $330.00 million. Titan International posted sales of $306.20 million in the same quarter last year, which would indicate a positive year over year growth rate of 7.9%. The firm is scheduled to announce its next earnings report on Thursday, November 2nd.
According to Zacks, 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 forecast that the company will post sales of $1.43 billion per share, with estimates ranging from $1.35 billion to $1.49 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Titan International.
Titan International (NYSE:TWI) last announced its earnings results on Thursday, August 3rd. The industrial products company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.18). The business had revenue of $364.40 million during the quarter, compared to analyst estimates of $352.13 million. Titan International had a negative net margin of 3.23% and a negative return on equity of 10.79%. The business’s revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.04) earnings per share.
Several research firms recently issued reports on TWI. ValuEngine lowered Titan International from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. BidaskClub lowered Titan International from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Zacks Investment Research lowered Titan International from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Finally, TheStreet raised Titan International from a “d+” rating to a “c-” rating in a research report on Friday, June 30th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $14.00.
Shares of Titan International (NYSE TWI) traded down 0.359% during trading on Friday, hitting $9.705. 161,546 shares of the stock were exchanged. Titan International has a 12-month low of $7.97 and a 12-month high of $14.23. The company’s market cap is $579.39 million. The firm has a 50 day moving average of $9.59 and a 200-day moving average of $10.77.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given a dividend of $0.005 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.21%. The ex-dividend date of this dividend is Thursday, September 28th. Titan International’s dividend payout ratio is currently -2.44%.
Several hedge funds have recently bought and sold shares of TWI. Louisiana State Employees Retirement System raised its position in shares of Titan International by 12.5% during the 1st quarter. Louisiana State Employees Retirement System now owns 19,800 shares of the industrial products company’s stock valued at $205,000 after acquiring an additional 2,200 shares in the last quarter. Strs Ohio acquired a new stake in Titan International in the first quarter worth $587,000. Bank of New York Mellon Corp increased its position in 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 buying an additional 44,300 shares during the period. Comerica Bank increased its position in 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 buying an additional 1,974 shares during the period. Finally, UBS Asset Management Americas Inc. acquired a new stake in Titan International in the first quarter worth $170,000. 86.09% of the stock is currently owned by institutional investors and hedge funds.
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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