Titan International, Inc. Expected to Earn Q1 2024 Earnings of $0.42 Per Share (NYSE:TWI)

Titan International, Inc. (NYSE:TWI) – Research analysts at Sidoti Csr reduced their Q1 2024 earnings per share estimates for Titan International in a report issued on Monday, April 15th. Sidoti Csr analyst S. Ferazani now expects that the industrial products company will earn $0.42 per share for the quarter, down from their prior forecast of $0.44. The consensus estimate for Titan International’s current full-year earnings is $1.42 per share. Sidoti Csr also issued estimates for Titan International’s Q2 2024 earnings at $0.44 EPS, Q4 2024 earnings at $0.21 EPS, Q2 2025 earnings at $0.50 EPS and Q3 2025 earnings at $0.31 EPS.

Titan International (NYSE:TWI) last issued its quarterly earnings data on Thursday, February 29th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.06. Titan International had a return on equity of 22.57% and a net margin of 4.32%. The company had revenue of $390.20 million for the quarter, compared to analyst estimates of $418.05 million.

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

Titan International Trading Down 0.4 %

TWI opened at $11.41 on Wednesday. The company has a quick ratio of 1.37, a current ratio of 2.35 and a debt-to-equity ratio of 0.88. Titan International has a 52 week low of $9.23 and a 52 week high of $15.33. The business’s 50 day moving average is $12.84 and its two-hundred day moving average is $13.33. The firm has a market cap of $691.71 million, a price-to-earnings ratio of 9.12 and a beta of 2.09.

Institutional Trading of Titan International

A number of institutional investors have recently modified their holdings of the company. Captrust Financial Advisors lifted its position in Titan International by 5,040.0% during the first quarter. Captrust Financial Advisors now owns 1,799 shares of the industrial products company’s stock valued at $26,000 after buying an additional 1,764 shares in the last quarter. Quarry LP purchased a new stake in Titan International during the 1st quarter worth $50,000. PNC Financial Services Group Inc. increased its holdings in Titan International by 65.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,516 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 1,388 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Titan International by 800.3% in the first quarter. Tower Research Capital LLC TRC now owns 5,780 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 5,138 shares during the period. Finally, Royal Bank of Canada lifted its stake in shares of Titan International by 63.6% during the second quarter. Royal Bank of Canada now owns 5,472 shares of the industrial products company’s stock worth $63,000 after purchasing an additional 2,128 shares in the last quarter. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Insider Buying and Selling at Titan International

In other news, CAO Anthony Eheli sold 2,500 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $12.42, for a total transaction of $31,050.00. Following the completion of the sale, the chief accounting officer now owns 52,918 shares in the company, valued at $657,241.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 18.30% of the stock is currently owned by company insiders.

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 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.