Zacks: Brokerages Expect Titan International Inc (TWI) Will Announce Quarterly Sales of $350.80 Million

Analysts expect Titan International Inc (NYSE:TWI) to post sales of $350.80 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Titan International’s earnings, with the lowest sales estimate coming in at $334.60 million and the highest estimate coming in at $367.00 million. Titan International reported sales of $307.29 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 14.2%. The business is scheduled to announce its next earnings report on Wednesday, March 21st.

According to Zacks, analysts expect that Titan International will report full year sales of $350.80 million for the current year, with estimates ranging from $1.43 billion to $1.46 billion. For the next financial year, analysts anticipate that the company will post sales of $0.00 per share. Zacks’ sales averages are an average based on a survey of research analysts that cover Titan International.

Titan International (NYSE:TWI) last posted its earnings results on Thursday, November 2nd. The industrial products company reported ($0.09) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.03. The company had revenue of $370.99 million during the quarter, compared to analyst estimates of $331.30 million. Titan International had a negative return on equity of 9.22% and a negative net margin of 3.19%. The company’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.15) EPS.

Several equities analysts have recently issued reports on the company. TheStreet upgraded Titan International from a “d+” rating to a “c-” rating in a research report on Monday, November 6th. ValuEngine upgraded Titan International from a “sell” rating to a “hold” rating in a research report on Thursday, November 2nd. Jefferies Group reiterated a “hold” rating and issued a $12.00 price objective on shares of Titan International in a research report on Sunday, November 5th. Finally, Zacks Investment Research upgraded Titan International from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $13.50.

In other Titan International news, CEO Paul G. Reitz sold 22,000 shares of the company’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James M. Froisland purchased 5,000 shares of Titan International stock in a transaction on Thursday, December 14th. The shares were purchased at an average cost of $11.65 per share, with a total value of $58,250.00. Following the transaction, the chief financial officer now owns 5,000 shares in the company, valued at $58,250. The disclosure for this purchase can be found here. 17.80% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the business. Piedmont Investment Advisors LLC acquired a new position in Titan International during the 2nd quarter worth approximately $125,000. IndexIQ Advisors LLC boosted its position in Titan International by 0.6% during the 2nd quarter. IndexIQ Advisors LLC now owns 11,723 shares of the industrial products company’s stock worth $141,000 after acquiring an additional 66 shares during the last quarter. Westpac Banking Corp acquired a new position in Titan International during the 2nd quarter worth approximately $152,000. Trexquant Investment LP acquired a new position in Titan International during the 2nd quarter worth approximately $195,000. Finally, BNP Paribas Arbitrage SA boosted its position in Titan International by 28.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 19,442 shares of the industrial products company’s stock worth $233,000 after acquiring an additional 4,323 shares during the last quarter. 87.15% of the stock is owned by hedge funds and other institutional investors.

Titan International (TWI) traded up $1.05 during trading on Monday, hitting $12.84. The stock had a trading volume of 544,251 shares, compared to its average volume of 378,537. Titan International has a 52 week low of $7.97 and a 52 week high of $14.23. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.22 and a quick ratio of 1.28.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors 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 dividend yield of 0.16%. Titan International’s dividend payout ratio is presently -2.41%.

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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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