Titan International (NYSE:TWI) Issues Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Key Points

• Titan International beat quarterly earnings expectations: The company reported $0.10 in EPS versus the $0.04-per-share loss analysts expected, while revenue reached $484.77 million, slightly above estimates.
• Shares remain under pressure: TWI fell to $7.32, near the lower end of its 52-week range, and the company posted a negative net margin of 4.72% and negative return on equity of 3.00%.
• Analyst sentiment is mixed: The stock has a consensus “Hold” rating and a $13.00 price target, while institutional investors own approximately 80.39% of outstanding shares.

Titan International (NYSE:TWI - Get Free Report) announced its quarterly earnings data on Wednesday. The industrial products company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.14, FiscalAI reports. The company had revenue of $484.77 million during the quarter, compared to analyst estimates of $480.06 million. Titan International had a negative return on equity of 3.00% and a negative net margin of 4.72%.

Titan International Price Performance

NYSE TWI traded down $0.33 on Thursday, hitting $7.32. The stock had a trading volume of 586,894 shares, compared to its average volume of 764,151. The firm has a 50-day moving average of $7.53 and a 200-day moving average of $8.25. The company has a market capitalization of $471.12 million, a price-to-earnings ratio of -5.34 and a beta of 1.45. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.22 and a current ratio of 2.19. Titan International has a 52-week low of $6.43 and a 52-week high of $11.70.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TWI shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Titan International in a research note on Monday, July 20th. DA Davidson reiterated a "buy" rating and issued a $13.00 price objective on shares of Titan International in a research note on Friday, June 12th. Finally, Wall Street Zen raised shares of Titan International from a "sell" rating to a "hold" rating in a report on Sunday, May 10th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $13.00.

Institutional Trading of Titan International

Large investors have recently modified their holdings of the business. Invesco Ltd. raised its stake in Titan International by 85.1% in the fourth quarter. Invesco Ltd. now owns 1,579,219 shares of the industrial products company's stock valued at $12,365,000 after purchasing an additional 725,926 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Titan International by 20.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,198,692 shares of the industrial products company's stock worth $9,386,000 after buying an additional 207,425 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Titan International by 92.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 397,106 shares of the industrial products company's stock valued at $3,109,000 after buying an additional 190,264 shares in the last quarter. Two Sigma Investments LP lifted its holdings in shares of Titan International by 69.9% during the 3rd quarter. Two Sigma Investments LP now owns 452,317 shares of the industrial products company's stock worth $3,420,000 after acquiring an additional 186,048 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Titan International by 35.1% during the 2nd quarter. Bank of America Corp DE now owns 584,390 shares of the industrial products company's stock worth $6,002,000 after acquiring an additional 151,888 shares during the last quarter. Institutional investors own 80.39% of the company's stock.

About Titan International

Titan International, Inc is a leading global manufacturer of wheels, tires and undercarriage systems designed for off-highway vehicles. The company serves a diverse range of markets including agricultural, construction, earthmoving and consumer segments. Titan's product portfolio encompasses a variety of tire sizes and tread designs, steel and cast centers, wheels, tracks and complete wheel‐and‐tire assemblies tailored to meet the needs of tractors, combines, skid steers, loaders, haul trucks and other specialized equipment.

In addition to original equipment manufacturing, Titan provides extensive aftermarket support through its network of distributors and sales offices.

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