Zacks Small Cap Weighs in on Titan International, Inc.’s Q2 2024 Earnings (NYSE:TWI)

Titan International, Inc. (NYSE:TWI) – Analysts at Zacks Small Cap decreased their Q2 2024 earnings estimates for shares of Titan International in a research note issued on Tuesday, May 7th. Zacks Small Cap analyst T. Kerr now forecasts that the industrial products company will post earnings of $0.31 per share for the quarter, down from their previous forecast 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.

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

Titan International Trading Down 3.3 %

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

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

Hedge Funds Weigh In On Titan International

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Byrne Asset Management LLC purchased a new stake in shares of Titan International in the 1st quarter valued at $25,000. Tradewinds Capital Management LLC acquired a new stake in Titan International during the 1st quarter worth about $100,000. ProShare Advisors LLC purchased a new position in shares of Titan International during the 1st quarter valued at about $129,000. SG Americas Securities LLC acquired a new position in shares of Titan International in the 3rd quarter valued at about $139,000. Finally, Quantbot Technologies LP boosted its stake in shares of Titan International by 20.1% in the third quarter. Quantbot Technologies LP now owns 11,564 shares of the industrial products company’s stock worth $155,000 after buying an additional 1,935 shares during the last quarter. Institutional investors and hedge funds own 80.39% of the company’s stock.

Insider Activity

In other Titan International news, CAO Anthony Eheli sold 2,500 shares of Titan International stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $12.42, for a total transaction of $31,050.00. Following the completion of the sale, the chief accounting officer now owns 52,918 shares of the company’s stock, valued at approximately $657,241.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 32.50% of the company’s stock.

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.