FY2018 EPS Estimates for Titan International, Inc. (TWI) Decreased by Analyst
Titan International, Inc. (NYSE:TWI) – Jefferies Group dropped their FY2018 earnings per share estimates for shares of Titan International in a note issued to investors on Thursday. Jefferies Group analyst S. Volkmann now forecasts that the industrial products company will earn $0.10 per share for the year, down from their previous estimate of $0.15. Jefferies Group has a “Hold” rating and a $10.50 price target on the stock. Jefferies Group also issued estimates for Titan International’s FY2019 earnings at $0.40 EPS.
A number of other equities analysts have also weighed in on the stock. TheStreet upgraded shares of Titan International from a “d+” rating to a “c-” rating in a research report on Friday, June 30th. Zacks Investment Research lowered shares of Titan International from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. BidaskClub upgraded shares of Titan International from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Finally, ValuEngine lowered shares of Titan International from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $12.75.
Titan International (NYSE TWI) traded down 2.26% during mid-day trading on Friday, reaching $9.94. 63,047 shares of the company’s stock were exchanged. The stock’s market cap is $593.42 million. Titan International has a 52-week low of $7.97 and a 52-week high of $14.23. The company has a 50-day moving average of $9.31 and a 200-day moving average of $10.54.
Titan International (NYSE:TWI) last posted its quarterly earnings data on Thursday, August 3rd. The industrial products company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.18). The business had revenue of $364.40 million during the quarter, compared to the consensus estimate 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 for the quarter was up 10.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.04) EPS.
A number of large investors have recently modified their holdings of TWI. Bank of New York Mellon Corp boosted its position in Titan International by 7.7% during 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 period. Comerica Bank boosted its position in Titan International by 4.3% during 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 period. UBS Asset Management Americas Inc. bought a new position in Titan International during the first quarter worth about $170,000. Texas Permanent School Fund boosted its position in Titan International by 9.9% during the first quarter. Texas Permanent School Fund now owns 35,092 shares of the industrial products company’s stock worth $363,000 after purchasing an additional 3,157 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of Titan International by 6.7% in the first quarter. Ameriprise Financial Inc. now owns 787,731 shares of the industrial products company’s stock valued at $8,146,000 after acquiring an additional 49,641 shares during the period. Hedge funds and other institutional investors own 86.09% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be given a dividend of $0.005 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.02 dividend on an annualized basis and a yield of 0.20%. Titan International’s dividend payout ratio is presently -2.44%.
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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