$566.70 Million in Sales Expected for Titan International, Inc. (NYSE:TWI) This Quarter - MarketBeat - Financial Daily News Site

$566.70 Million in Sales Expected for Titan International, Inc. (NYSE:TWI) This Quarter – MarketBeat

Brokerages expect that Titan International, Inc. (NYSE:TWI – Get Rating) will announce sales of $566.70 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Titan International’s earnings. The lowest sales estimate is $565.50 million and the highest is $567.90 million. Titan International posted sales of $438.64 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 29.2%. The company is expected to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Titan International will report full-year sales of $2.13 billion for the current financial year, with estimates ranging from $2.11 billion to $2.14 billion. For the next year, analysts expect that the firm will report sales of $2.25 billion, with estimates ranging from $2.18 billion to $2.32 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Titan International.

Titan International (NYSE:TWI – Get Rating) last issued its quarterly earnings results on Monday, May 2nd. The industrial products company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.15. Titan International had a return on equity of 37.62% and a net margin of 3.10%. The business had revenue of $556.00 million for the quarter, compared to analyst estimates of $506.33 million. During the same period last year, the company posted $0.07 earnings per share.

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Several brokerages have issued reports on TWI. Zacks Investment Research raised Titan International from a “hold” rating to a “strong-buy” rating and set a $18.00 price target for the company in a research note on Saturday, May 7th. StockNews.com raised Titan International from a “hold” rating to a “buy” rating in a research report on Sunday, April 24th.

In related news, Director Maurice M. Taylor, Jr. sold 39,370 shares of the firm’s stock in a transaction on Friday, March 18th. The stock was sold at an average price of $14.30, for a total value of $562,991.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 18.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Captrust Financial Advisors grew its holdings in Titan International by 5,040.0% in the first quarter. Captrust Financial Advisors now owns 1,799 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 1,764 shares during the last quarter. Royal Bank of Canada raised its position in shares of Titan International by 10,448.5% in the second quarter. Royal Bank of Canada now owns 3,481 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 3,448 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Titan International by 65.2% in the first quarter. PNC Financial Services Group Inc. now owns 3,516 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 1,388 shares during the period. Lazard Asset Management LLC acquired a new position in shares of Titan International during the 1st quarter worth about $71,000. Finally, Metropolitan Life Insurance Co NY raised its position in shares of Titan International by 29.3% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 8,019 shares of the industrial products company’s stock worth $88,000 after purchasing an additional 1,818 shares during the last quarter. 75.23% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE TWI opened at $18.38 on Friday. The stock has a market cap of $1.15 billion, a PE ratio of 19.35 and a beta of 2.42. Titan International has a fifty-two week low of $6.69 and a fifty-two week high of $18.89. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.99 and a current ratio of 1.85. The stock has a fifty day moving average of $15.22 and a 200-day moving average of $11.82.

About Titan International (Get Rating)

Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in North America, Europe, Latin America, the Commonwealth of Independent States region, the Middle East, Africa, Russia, and internationally.

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