Titan International, Inc. (NYSE:TWI – Get Rating) – Investment analysts at William Blair upped their Q2 2022 earnings per share (EPS) estimates for Titan International in a research note issued to investors on Tuesday, June 14th. William Blair analyst L. De. Maria now forecasts that the industrial products company will post earnings per share of $0.64 for the quarter, up from their prior estimate of $0.55. The consensus estimate for Titan International’s current full-year earnings is $1.57 per share.
Titan International (NYSE:TWI – Get Rating) last announced its earnings results on Monday, May 2nd. The industrial products company reported $0.44 earnings per share for the quarter, beating 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 company had revenue of $556.00 million during the quarter, compared to analyst estimates of $506.33 million. During the same period last year, the company posted $0.07 earnings per share.
Shares of NYSE:TWI opened at $19.13 on Thursday. Titan International has a twelve month low of $6.69 and a twelve month high of $19.81. The firm has a market cap of $1.20 billion, a PE ratio of 20.14 and a beta of 2.40. 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 business has a fifty day moving average of $16.27 and a 200-day moving average of $12.79.
In other 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 19.60% of the company’s stock.
A number of hedge funds have recently made changes to their positions in TWI. Royal Bank of Canada increased its position in 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 purchasing an additional 3,448 shares during the period. Bank of America Corp DE grew its position in shares of Titan International by 31.2% during the 2nd quarter. Bank of America Corp DE now owns 48,939 shares of the industrial products company’s stock worth $414,000 after buying an additional 11,635 shares during the period. Morgan Stanley grew its position in shares of Titan International by 71.3% during the 2nd quarter. Morgan Stanley now owns 544,406 shares of the industrial products company’s stock worth $4,616,000 after buying an additional 226,651 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Titan International by 396.0% during the 3rd quarter. Goldman Sachs Group Inc. now owns 428,360 shares of the industrial products company’s stock worth $3,068,000 after buying an additional 341,999 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Titan International by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 841,949 shares of the industrial products company’s stock worth $6,028,000 after buying an additional 24,431 shares during the period. Hedge funds and other institutional investors own 75.23% of the company’s stock.
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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