Titan International, Inc. (TWI) Issues Quarterly Earnings Results, Beats Estimates By $0.03 EPS
Titan International, Inc. (NYSE:TWI) released its earnings results on Wednesday. The industrial products company reported ($0.09) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.03, Bloomberg Earnings reports. The firm had revenue of $370.99 million for the quarter, compared to the consensus estimate of $331.30 million. Titan International had a negative return on equity of 10.79% and a negative net margin of 3.23%. The firm’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.15) earnings per share.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 29th were issued a $0.005 dividend. The ex-dividend date was Thursday, September 28th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.21%. Titan International’s dividend payout ratio (DPR) is -2.44%.
A number of equities analysts have recently commented on TWI shares. Jefferies Group LLC restated a “hold” rating and issued a $10.50 price objective on shares of Titan International in a report on Friday, October 6th. Zacks Investment Research downgraded Titan International from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. BidaskClub upgraded Titan International from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, ValuEngine downgraded Titan International from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Titan International has a consensus rating of “Hold” and an average price target of $12.75.
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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