Titan International Inc (NYSE:TWI) – Equities researchers at Jefferies Group dropped their Q1 2017 earnings per share (EPS) estimates for Titan International in a research report issued to clients and investors on Wednesday. Jefferies Group analyst S. Volkmann now forecasts that the brokerage will post earnings per share of ($0.10) for the quarter, down from their previous forecast of ($0.06). Jefferies Group also issued estimates for Titan International’s Q3 2017 earnings at ($0.04) EPS, Q4 2017 earnings at ($0.10) EPS and FY2017 earnings at ($0.20) EPS.
Several other research firms also recently commented on TWI. Zacks Investment Research downgraded Titan International from a “buy” rating to a “hold” rating in a research note on Thursday, January 5th. Feltl & Co. downgraded Titan International from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 16th. William Blair raised Titan International from a “market perform” rating to an “outperform” rating in a research note on Friday, January 27th. Finally, Aegis initiated coverage on Titan International in a research note on Friday, December 23rd. They issued a “buy” rating and a $15.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $13.50.
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Titan International (NYSE:TWI) opened at 10.43 on Monday. The company has a 50 day moving average of $12.87 and a 200-day moving average of $11.14. Titan International has a 12-month low of $4.80 and a 12-month high of $14.23. The stock’s market capitalization is $563.80 million.
Titan International (NYSE:TWI) last posted its earnings results on Wednesday, March 15th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by $0.15. Titan International had a negative net margin of 6.86% and a negative return on equity of 12.49%. The business earned $307.30 million during the quarter, compared to analysts’ expectations of $311.02 million. During the same period last year, the business posted ($0.38) earnings per share. The company’s revenue for the quarter was down .2% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its position in Titan International by 19.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,281,067 shares of the company’s stock valued at $36,781,000 after buying an additional 527,385 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of Titan International by 9.0% in the third quarter. BlackRock Fund Advisors now owns 3,218,690 shares of the company’s stock worth $32,573,000 after buying an additional 265,269 shares during the period. Renaissance Technologies LLC increased its stake in shares of Titan International by 8.0% in the fourth quarter. Renaissance Technologies LLC now owns 2,606,000 shares of the company’s stock worth $29,213,000 after buying an additional 193,200 shares during the period. Allianz Asset Management AG bought a new stake in shares of Titan International during the fourth quarter worth about $12,321,000. Finally, State Street Corp increased its stake in shares of Titan International by 7.0% in the fourth quarter. State Street Corp now owns 968,171 shares of the company’s stock worth $10,852,000 after buying an additional 62,930 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Friday, March 31st will be paid a $0.005 dividend. This represents a $0.02 annualized dividend and a yield of 0.19%. The ex-dividend date is Wednesday, March 29th. Titan International’s dividend payout ratio is currently -1.23%.
About Titan International
Titan International, Inc is a manufacturer of wheels, tires and undercarriage systems and components for off-highway vehicles used in the agricultural, earthmoving/construction and consumer segments. The Company operates through three segments: agricultural, earthmoving/construction and consumer. The Company’s agricultural market includes rims, wheels, tires and undercarriage systems and components manufactured for use on various agricultural and forestry equipment.
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