Titan International, Inc. (NYSE:TWI) – Jefferies Group reduced their Q3 2017 earnings per share estimates for shares of Titan International in a note issued to investors on Thursday. Jefferies Group analyst S. Volkmann now anticipates that the industrial products company will earn ($0.13) per share for the quarter, down from their prior estimate of $0.02. Jefferies Group has a “Hold” rating and a $10.50 price target on the stock. Jefferies Group also issued estimates for Titan International’s Q4 2017 earnings at ($0.07) EPS.
TWI has been the subject of several other research reports. TheStreet raised Titan International from a “d+” rating to a “c-” rating in a research report on Friday, June 30th. BidaskClub lowered Titan International from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Zacks Investment Research lowered Titan International from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Finally, ValuEngine lowered Titan International from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Titan International currently has an average rating of “Hold” and a consensus price target of $12.75.
Shares of Titan International (NYSE:TWI) opened at 9.90 on Monday. The company’s market cap is $591.03 million. Titan International has a 52 week low of $7.97 and a 52 week high of $14.23. The firm’s 50-day moving average is $9.35 and its 200-day moving average is $10.53.
Titan International (NYSE:TWI) last announced its quarterly earnings results on Thursday, August 3rd. The industrial products company reported ($0.09) EPS for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.18). The business had revenue of $364.40 million for the quarter, compared to the consensus estimate of $352.13 million. Titan International had a negative net margin of 3.23% and a negative return on equity of 10.79%. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.04) EPS.
A number of institutional investors have recently made changes to their positions in TWI. State of Alaska Department of Revenue lifted its position in Titan International by 94.8% during the second quarter. State of Alaska Department of Revenue now owns 9,447 shares of the industrial products company’s stock valued at $113,000 after buying an additional 4,597 shares during the period. Mason Street Advisors LLC raised its position in shares of Titan International by 17.7% in the 1st quarter. Mason Street Advisors LLC now owns 11,264 shares of the industrial products company’s stock worth $116,000 after purchasing an additional 1,696 shares during the last quarter. Stifel Financial Corp raised its position in shares of Titan International by 0.9% in the 1st quarter. Stifel Financial Corp now owns 11,363 shares of the industrial products company’s stock worth $119,000 after purchasing an additional 104 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of Titan International in the 2nd quarter worth about $125,000. Finally, IndexIQ Advisors LLC raised its position in shares of Titan International by 0.6% in the 2nd quarter. IndexIQ Advisors LLC now owns 11,723 shares of the industrial products company’s stock worth $141,000 after purchasing an additional 66 shares during the last quarter. 86.09% of the stock is owned by institutional investors and hedge funds.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be given a dividend of $0.005 per share. This represents a $0.02 annualized dividend and a yield of 0.20%. The ex-dividend date is Thursday, September 28th. Titan International’s dividend payout ratio is currently -2.44%.
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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