Titan International (NYSE:TWI) Releases Earnings Results, Misses Estimates By $0.15 EPS

Titan International (NYSE:TWI) released its quarterly earnings data on Wednesday. The industrial products company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.15), Zacks reports. The firm 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 22.57% and a net margin of 4.32%. During the same quarter in the prior year, the firm earned $0.53 earnings per share. Titan International updated its Q2 2024 guidance to EPS.

Titan International Stock Performance

Titan International stock traded down $0.89 during mid-day trading on Thursday, hitting $10.28. 875,678 shares of the company’s stock traded hands, compared to its average volume of 291,711. The firm has a 50 day simple moving average of $12.36 and a two-hundred day simple moving average of $13.25. Titan International has a fifty-two week low of $9.57 and a fifty-two week high of $15.33. The stock has a market cap of $749.10 million, a price-to-earnings ratio of 8.23 and a beta of 2.09. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.35 and a quick ratio of 1.37.

Insiders Place Their Bets

In related news, CAO Anthony Eheli sold 2,500 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $12.42, for a total value of $31,050.00. Following the transaction, the chief accounting officer now owns 52,918 shares in the company, valued at $657,241.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 18.30% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.