Brokerages forecast that Titan International Inc (NYSE:TWI) will announce $378.65 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Titan International’s earnings. The highest sales estimate is $379.30 million and the lowest is $378.00 million. Titan International reported sales of $376.03 million during the same quarter last year, which indicates a positive year over year growth rate of 0.7%. The firm is expected to announce its next earnings report on Friday, February 22nd.
According to Zacks, analysts expect that Titan International will report full year sales of $1.62 billion for the current financial year. For the next financial year, analysts forecast that the business will post sales of $1.71 billion, with estimates ranging from $1.70 billion to $1.72 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow Titan International.
Titan International (NYSE:TWI) last announced its quarterly earnings data on Friday, November 2nd. The industrial products company reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.03. The firm had revenue of $384.70 million during the quarter, compared to analyst estimates of $398.71 million. Titan International had a negative net margin of 1.06% and a positive return on equity of 4.56%. Titan International’s revenue was up 3.7% on a year-over-year basis. During the same period last year, the firm posted ($0.09) EPS.
A number of equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Titan International from a “hold” rating to a “strong-buy” rating and set a $8.75 price target for the company in a research report on Thursday, November 8th. TheStreet lowered shares of Titan International from a “c” rating to a “d+” rating in a research report on Thursday, August 23rd. Finally, ValuEngine raised shares of Titan International from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $12.75.
TWI opened at $5.74 on Friday. Titan International has a 12-month low of $5.69 and a 12-month high of $14.53. The company has a quick ratio of 1.11, a current ratio of 2.11 and a debt-to-equity ratio of 1.42. The company has a market cap of $375.08 million, a price-to-earnings ratio of -11.71 and a beta of 1.37.
Institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Asset Management L.P. purchased a new position in Titan International during the 3rd quarter worth approximately $111,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Titan International during the 2nd quarter worth approximately $113,000. PNC Financial Services Group Inc. raised its position in Titan International by 3,853.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 18,425 shares of the industrial products company’s stock worth $137,000 after buying an additional 17,959 shares during the last quarter. Paloma Partners Management Co acquired a new stake in shares of Titan International during the 2nd quarter worth approximately $149,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Titan International during the 2nd quarter worth approximately $189,000. 83.86% of the stock is owned by institutional investors.
About Titan International
Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, wheel and tire assemblies, and undercarriage systems and components for off-highway vehicles in the United States and internationally. It operates in three segments: Agricultural, Earthmoving/Construction, and Consumer.
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