Zacks: Brokerages Anticipate Titan International Inc (NYSE:TWI) to Announce -$0.19 EPS

Brokerages forecast that Titan International Inc (NYSE:TWI) will report ($0.19) earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have made estimates for Titan International’s earnings, with the lowest EPS estimate coming in at ($0.35) and the highest estimate coming in at ($0.10). Titan International posted earnings per share of ($0.12) during the same quarter last year, which would suggest a negative year-over-year growth rate of 58.3%. The company is scheduled to report its next quarterly earnings report on Thursday, August 6th.

According to Zacks, analysts expect that Titan International will report full year earnings of ($1.03) per share for the current fiscal year, with EPS estimates ranging from ($1.10) to ($0.95). For the next year, analysts expect that the business will report earnings of ($0.27) per share, with EPS estimates ranging from ($0.40) to ($0.15). Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Titan International.

Titan International (NYSE:TWI) last posted its quarterly earnings data on Thursday, May 7th. The industrial products company reported ($0.18) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.01. The company had revenue of $341.50 million for the quarter, compared to the consensus estimate of $365.75 million. Titan International had a negative return on equity of 24.72% and a negative net margin of 5.58%.

TWI has been the topic of a number of recent research reports. ValuEngine upgraded Titan International from a “hold” rating to a “buy” rating in a research note on Sunday, March 29th. Zacks Investment Research upgraded Titan International from a “hold” rating to a “buy” rating and set a $1.75 target price on the stock in a research note on Thursday, June 18th.

Shares of TWI stock traded down $0.01 on Tuesday, reaching $1.54. 3,132 shares of the company’s stock traded hands, compared to its average volume of 1,232,863. Titan International has a 12-month low of $1.05 and a 12-month high of $5.00. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.97 and a current ratio of 1.87. The company has a market capitalization of $91.51 million, a P/E ratio of -1.20 and a beta of 1.79. The business’s 50 day moving average price is $1.39 and its two-hundred day moving average price is $2.15.

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its stake in shares of Titan International by 2.3% in the 1st quarter. BlackRock Inc. now owns 8,622,559 shares of the industrial products company’s stock valued at $13,365,000 after purchasing an additional 194,279 shares during the period. Renaissance Technologies LLC grew its position in Titan International by 4.9% during the 4th quarter. Renaissance Technologies LLC now owns 3,485,840 shares of the industrial products company’s stock worth $12,619,000 after acquiring an additional 162,140 shares during the last quarter. Fishman Jay A Ltd. MI grew its position in Titan International by 17.5% during the 1st quarter. Fishman Jay A Ltd. MI now owns 2,816,972 shares of the industrial products company’s stock worth $16,817,000 after acquiring an additional 420,040 shares during the last quarter. State Street Corp grew its position in Titan International by 8.2% during the 1st quarter. State Street Corp now owns 1,522,246 shares of the industrial products company’s stock worth $2,367,000 after acquiring an additional 115,642 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Titan International by 10.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 982,682 shares of the industrial products company’s stock worth $3,558,000 after acquiring an additional 92,426 shares during the last quarter. 77.75% of the stock is owned by hedge funds and other institutional investors.

About Titan International

Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in North America, Europe, Latin America, the Commonwealth of Independent States region, and internationally. The company operates in three segments: Agricultural, Earthmoving/Construction, and Consumer.

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