$350.80 Million in Sales Expected for Titan International Inc (TWI) This Quarter
Equities analysts expect Titan International Inc (NYSE:TWI) to report sales of $350.80 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Titan International’s earnings, with the highest sales estimate coming in at $367.00 million and the lowest estimate coming in at $334.60 million. Titan International reported sales of $307.29 million in the same quarter last year, which would indicate a positive year over year growth rate of 14.2%. The company is expected to report its next earnings results on Wednesday, March 21st.
On average, analysts expect that Titan International will report full year sales of $350.80 million for the current fiscal year, with estimates ranging from $1.43 billion to $1.46 billion. For the next fiscal year, analysts forecast that the company will post sales of $0.00 per share. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Titan International.
Titan International (NYSE:TWI) last posted its quarterly earnings data on Thursday, November 2nd. The industrial products company reported ($0.09) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.03. Titan International had a negative net margin of 3.19% and a negative return on equity of 9.22%. The business had revenue of $370.99 million for the quarter, compared to analyst estimates of $331.30 million. During the same quarter last year, the business earned ($0.15) earnings per share. The business’s revenue for the quarter was up 21.2% on a year-over-year basis.
TWI has been the topic of a number of research analyst reports. TheStreet upgraded shares of Titan International from a “d+” rating to a “c-” rating in a research note on Monday, November 6th. Zacks Investment Research upgraded shares of Titan International from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Jefferies Group reiterated a “hold” rating and set a $12.00 price objective on shares of Titan International in a research note on Sunday, November 5th. Finally, ValuEngine upgraded shares of Titan International from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $12.00.
In other Titan International news, CFO James M. Froisland purchased 5,000 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were purchased at an average price of $11.65 per share, for a total transaction of $58,250.00. Following the completion of the transaction, the chief financial officer now owns 5,000 shares in the company, valued at approximately $58,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Paul G. Reitz sold 22,000 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $10.82, for a total transaction of $238,040.00. The disclosure for this sale can be found here. Insiders own 17.80% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Fishman Jay A Ltd. MI boosted its stake in Titan International by 2.5% in the 3rd quarter. Fishman Jay A Ltd. MI now owns 2,903,062 shares of the industrial products company’s stock worth $29,466,000 after purchasing an additional 70,030 shares during the period. Pekin Singer Strauss Asset Management IL boosted its stake in Titan International by 3.1% in the 3rd quarter. Pekin Singer Strauss Asset Management IL now owns 618,129 shares of the industrial products company’s stock worth $6,274,000 after purchasing an additional 18,387 shares during the period. Swiss National Bank boosted its stake in Titan International by 14.4% in the 3rd quarter. Swiss National Bank now owns 84,800 shares of the industrial products company’s stock worth $861,000 after purchasing an additional 10,700 shares during the period. Franklin Resources Inc. boosted its stake in Titan International by 70.3% in the 2nd quarter. Franklin Resources Inc. now owns 3,157,500 shares of the industrial products company’s stock worth $37,922,000 after purchasing an additional 1,303,200 shares during the period. Finally, Citigroup Inc. boosted its stake in Titan International by 33.6% in the 2nd quarter. Citigroup Inc. now owns 74,229 shares of the industrial products company’s stock worth $891,000 after purchasing an additional 18,651 shares during the period. 87.15% of the stock is owned by hedge funds and other institutional investors.
Titan International (NYSE TWI) opened at $13.11 on Wednesday. Titan International has a 12 month low of $7.97 and a 12 month high of $14.23. The company has a current ratio of 2.22, a quick ratio of 1.28 and a debt-to-equity ratio of 1.17. The company has a market cap of $768.39, a P/E ratio of -15.80 and a beta of 1.82.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be given a $0.005 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.02 annualized dividend and a yield of 0.15%. Titan International’s dividend payout ratio (DPR) is -2.41%.
COPYRIGHT VIOLATION NOTICE: “$350.80 Million in Sales Expected for Titan International Inc (TWI) This Quarter” was first posted by Watch List News and is the property of of Watch List News. If you are accessing this piece of content on another site, it was stolen and republished in violation of international copyright and trademark law. The legal version of this piece of content can be accessed at https://www.watchlistnews.com/350-80-million-in-sales-expected-for-titan-international-inc-twi-this-quarter/1792474.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Titan International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Titan International and related companies with MarketBeat.com's FREE daily email newsletter.