Q2 2023 Earnings Estimate for Titan International, Inc. (NYSE:TWI) Issued By William Blair

Titan International, Inc. (NYSE:TWIGet Rating) – Equities researchers at William Blair lowered their Q2 2023 EPS estimates for shares of Titan International in a report issued on Thursday, May 4th. William Blair analyst L. De. Maria now expects that the industrial products company will earn $0.45 per share for the quarter, down from their prior estimate of $0.53. The consensus estimate for Titan International’s current full-year earnings is $1.83 per share. William Blair also issued estimates for Titan International’s Q3 2023 earnings at $0.42 EPS, Q4 2023 earnings at $0.40 EPS, FY2023 earnings at $1.80 EPS and FY2024 earnings at $1.90 EPS.

Separately, StockNews.com initiated coverage on shares of Titan International in a report on Thursday, March 16th. They issued a “buy” rating on the stock.

Titan International Stock Up 3.2 %

Shares of TWI stock opened at $10.06 on Monday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.15 and a current ratio of 2.07. Titan International has a fifty-two week low of $9.23 and a fifty-two week high of $19.81. The firm has a market capitalization of $635.09 million, a PE ratio of 3.47 and a beta of 2.18. The stock’s 50-day simple moving average is $10.84 and its 200-day simple moving average is $13.66.

Titan International (NYSE:TWIGet Rating) last issued its earnings results on Monday, February 27th. The industrial products company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). Titan International had a return on equity of 40.65% and a net margin of 8.52%. The firm had revenue of $509.77 million during the quarter, compared to analysts’ expectations of $523.31 million.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TWI. Raymond James & Associates purchased a new position in Titan International in the first quarter valued at $795,000. Bank of New York Mellon Corp raised its holdings in Titan International by 1.1% in the 1st quarter. Bank of New York Mellon Corp now owns 479,897 shares of the industrial products company’s stock worth $7,069,000 after purchasing an additional 5,399 shares during the period. Citigroup Inc. boosted its position in Titan International by 10.7% during the first quarter. Citigroup Inc. now owns 42,647 shares of the industrial products company’s stock worth $628,000 after purchasing an additional 4,120 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in 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 valued at $51,000 after purchasing an additional 1,388 shares during the period. Finally, MetLife Investment Management LLC increased its position in shares of Titan International by 54.0% in the first quarter. MetLife Investment Management LLC now owns 27,983 shares of the industrial products company’s stock valued at $412,000 after buying an additional 9,811 shares in the last quarter. 79.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Titan International news, General Counsel Michael G. Troyanovich sold 40,000 shares of the company’s stock in a transaction on Friday, February 10th. The shares were sold at an average price of $15.10, for a total value of $604,000.00. Following the sale, the general counsel now directly owns 113,785 shares of the company’s stock, valued at $1,718,153.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 19.60% of the stock is currently owned by corporate insiders.

Titan International Company Profile

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Titan International, Inc is a holding company engaged in the manufacture of wheels, tires, and undercarriage industrial. It operates through the following segments: Agricultural, Earthmoving and Construction, and Consumer. The Agricultural segment manufactures rims, wheels, and tires for use in various agricultural and forestry equipment, including tractors, combines, skidders, plows, planters, and irrigation equipment.

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