Titan International, Inc. (NYSE:TWI) Expected to Post Q3 2024 Earnings of $0.33 Per Share

Titan International, Inc. (NYSE:TWI) – Equities research analysts at Zacks Small Cap cut their Q3 2024 earnings per share (EPS) estimates for shares of Titan International in a report released on Tuesday, May 7th. Zacks Small Cap analyst T. Kerr now expects that the industrial products company will post earnings of $0.33 per share for the quarter, down from their previous forecast of $0.36. The consensus estimate for Titan International’s current full-year earnings is $1.46 per share. Zacks Small Cap also issued estimates for Titan International’s Q4 2024 earnings at $0.32 EPS.

Titan International (NYSE:TWI) last posted its earnings results on Wednesday, May 1st. The industrial products company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.15). Titan International had a return on equity of 17.27% and a net margin of 3.20%. The firm had revenue of $482.21 million for the quarter, compared to analysts’ expectations of $537.32 million. During the same quarter in the previous year, the firm posted $0.53 earnings per share.

Separately, TheStreet downgraded shares of Titan International from a “b-” rating to a “c” rating in a report on Thursday, February 29th.

Titan International Price Performance

Titan International stock opened at $8.57 on Wednesday. The company has a quick ratio of 1.31, a current ratio of 2.33 and a debt-to-equity ratio of 0.88. The firm’s 50-day simple moving average is $11.89 and its 200 day simple moving average is $13.14. Titan International has a 52 week low of $8.49 and a 52 week high of $15.33. The firm has a market capitalization of $624.13 million, a PE ratio of 9.62 and a beta of 2.09.

Insider Transactions at Titan International

In related news, CAO Anthony Eheli sold 2,500 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $12.42, for a total value of $31,050.00. Following the completion of the transaction, the chief accounting officer now owns 52,918 shares of the company’s stock, valued at approximately $657,241.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 32.50% of the company’s stock.

Institutional Trading of Titan International

Several hedge funds and other institutional investors have recently bought and sold shares of the company. ProShare Advisors LLC acquired a new position in Titan International in the first quarter valued at $129,000. Empowered Funds LLC raised its stake in Titan International by 33.8% during the first quarter. Empowered Funds LLC now owns 261,660 shares of the industrial products company’s stock worth $3,260,000 after purchasing an additional 66,151 shares during the period. LSV Asset Management boosted its holdings in shares of Titan International by 3.4% in the 1st quarter. LSV Asset Management now owns 780,700 shares of the industrial products company’s stock valued at $9,728,000 after purchasing an additional 25,941 shares during the last quarter. Capital Investment Counsel Inc raised its position in shares of Titan International by 4.6% in the 1st quarter. Capital Investment Counsel Inc now owns 114,840 shares of the industrial products company’s stock worth $1,431,000 after buying an additional 5,057 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in Titan International by 51.0% in the first quarter. BNP Paribas Financial Markets now owns 40,001 shares of the industrial products company’s stock valued at $498,000 after acquiring an additional 13,507 shares during the last quarter. 80.39% of the stock is owned by hedge funds and other institutional investors.

Titan International Company Profile

Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in the United States and internationally. The company operates in Agricultural, Earthmoving/Construction, and Consumer segments. It offers wheels, tires, and undercarriage systems and components for various agricultural equipment, including tractors, combines, skidders, plows, planters, and irrigation equipment.