Titan International, Inc. (NYSE:TWI) to Post Q2 2024 Earnings of $0.31 Per Share, Zacks Small Cap Forecasts

Titan International, Inc. (NYSE:TWI) – Research analysts at Zacks Small Cap reduced their Q2 2024 earnings per share (EPS) estimates for Titan International in a report released on Tuesday, May 7th. Zacks Small Cap analyst T. Kerr now forecasts that the industrial products company will post earnings per share of $0.31 for the quarter, down from their prior estimate of $0.45. The consensus estimate for Titan International’s current full-year earnings is $1.46 per share. Zacks Small Cap also issued estimates for Titan International’s FY2024 earnings at $1.24 EPS and FY2025 earnings at $1.47 EPS.

Titan International (NYSE:TWI) last released its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.15). The business had revenue of $482.21 million during the quarter, compared to analysts’ expectations of $537.32 million. Titan International had a net margin of 3.20% and a return on equity of 17.27%. During the same period in the previous year, the business earned $0.53 EPS.

Separately, TheStreet lowered Titan International from a “b-” rating to a “c” rating in a research note on Thursday, February 29th.

Titan International Trading Down 3.3 %

Shares of Titan International stock opened at $8.57 on Thursday. The company has a 50 day simple moving average of $11.89 and a two-hundred day simple moving average of $13.14. The firm has a market cap of $624.13 million, a PE ratio of 9.62 and a beta of 2.09. Titan International has a 1 year low of $8.49 and a 1 year high of $15.33. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.33 and a quick ratio of 1.31.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Byrne Asset Management LLC purchased a new stake in Titan International during the 1st quarter valued at $25,000. Tradewinds Capital Management LLC bought a new stake in shares of Titan International in the first quarter worth about $100,000. SG Americas Securities LLC purchased a new position in Titan International during the 3rd quarter valued at about $139,000. ProShare Advisors LLC bought a new position in Titan International during the 1st quarter valued at approximately $129,000. Finally, Boulder Hill Capital Management LP purchased a new stake in Titan International in the 4th quarter worth approximately $161,000. 80.39% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Titan International news, CAO Anthony Eheli sold 2,500 shares of Titan International stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $12.42, for a total transaction of $31,050.00. Following the transaction, the chief accounting officer now directly owns 52,918 shares of the company’s stock, valued at $657,241.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 32.50% of the stock is owned by 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.