Titan International, Inc. (NYSE:TWI) announced its earnings results on Wednesday. The industrial products company reported ($0.09) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.03, Bloomberg Earnings reports. Titan International had a negative net margin of 3.23% and a negative return on equity of 10.79%. The business had revenue of $370.99 million for the quarter, compared to the consensus estimate of $331.30 million. During the same quarter in the prior year, the firm posted ($0.15) earnings per share. The business’s revenue for the quarter was up 21.2% on a year-over-year basis.
The business also recently declared a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 29th were paid a $0.005 dividend. This represents a $0.02 annualized dividend and a yield of 0.21%. The ex-dividend date was Thursday, September 28th. Titan International’s dividend payout ratio is presently -2.44%.
Several brokerages have recently weighed in on TWI. BidaskClub raised shares of Titan International from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Jefferies Group LLC reissued a “hold” rating and issued a $10.50 target price on shares of Titan International in a research note on Friday, October 6th. Zacks Investment Research downgraded shares of Titan International from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Finally, ValuEngine downgraded shares of Titan International from a “hold” rating to a “sell” rating in a research note on Wednesday, August 16th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $12.75.
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Titan International Company Profile
Titan International, Inc is a wheel, tire, and undercarriage industrial manufacturer and supplier. The Company’s segments are agricultural, earthmoving/construction, and consumer. The Company produces a range of products to meet the specifications of original equipment manufacturers (OEMs) and aftermarket customers in the agricultural, earthmoving/construction, and consumer markets.
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