Jefferies Group LLC reissued their hold rating on shares of Titan International, Inc. (NYSE:TWI) in a research note published on Friday, October 6th. Jefferies Group LLC currently has a $10.50 price target on the industrial products company’s stock. Jefferies Group also issued estimates for Titan International’s Q3 2017 earnings at ($0.13) EPS, Q4 2017 earnings at ($0.07) EPS, FY2018 earnings at $0.10 EPS and FY2019 earnings at $0.40 EPS.
TWI has been the topic of several other research reports. BidaskClub downgraded Titan International from a buy rating to a hold rating in a research note on Thursday, August 10th. ValuEngine downgraded Titan International from a hold rating to a sell rating in a research note on Wednesday, August 16th. Zacks Investment Research downgraded Titan International from a hold rating to a sell rating in a research note on Wednesday, August 9th. Finally, TheStreet upgraded Titan International from a d+ rating to a c- rating in a research note on Friday, June 30th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. Titan International currently has an average rating of Hold and an average price target of $12.75.
Shares of Titan International (NYSE TWI) opened at 9.66 on Friday. The company’s market capitalization is $576.70 million. Titan International has a 1-year low of $7.97 and a 1-year high of $14.23. The firm has a 50-day moving average price of $9.60 and a 200-day moving average price of $10.55.
Titan International (NYSE:TWI) last issued its quarterly earnings data on Thursday, August 3rd. The industrial products company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.18). The company had revenue of $364.40 million for the quarter, compared to the consensus estimate of $352.13 million. Titan International had a negative return on equity of 10.79% and a negative net margin of 3.23%. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.04) earnings per share. Equities analysts anticipate that Titan International will post ($0.53) earnings per share for the current year.
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The company also recently declared a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 29th were issued a $0.005 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.02 annualized dividend and a dividend yield of 0.21%. Titan International’s payout ratio is currently -2.44%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Thrivent Financial For Lutherans increased its stake in Titan International by 16.0% in the first quarter. Thrivent Financial For Lutherans now owns 27,230 shares of the industrial products company’s stock valued at $282,000 after acquiring an additional 3,750 shares during the last quarter. Prudential Financial Inc. boosted its position in Titan International by 10.2% during the first quarter. Prudential Financial Inc. now owns 118,945 shares of the industrial products company’s stock valued at $1,230,000 after buying an additional 11,033 shares during the period. Franklin Resources Inc. boosted its position in Titan International by 70.3% during the second quarter. Franklin Resources Inc. now owns 3,157,500 shares of the industrial products company’s stock valued at $37,922,000 after buying an additional 1,303,200 shares during the period. Russell Investments Group Ltd. boosted its position in Titan International by 89.1% during the second quarter. Russell Investments Group Ltd. now owns 83,178 shares of the industrial products company’s stock valued at $999,000 after buying an additional 39,187 shares during the period. Finally, Comerica Bank boosted its position in Titan International by 4.3% during the first quarter. Comerica Bank now owns 48,382 shares of the industrial products company’s stock valued at $527,000 after buying an additional 1,974 shares during the period. 86.09% of the stock is currently owned by institutional investors and hedge funds.
Titan International Company Profile
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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