Titan International (NYSE:TWI) Releases Earnings Results, Misses Estimates By $0.22 EPS

Titan International (NYSE:TWI) issued its earnings results on Thursday. The industrial products company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.22), Briefing.com reports. Titan International had a negative return on equity of 5.32% and a negative net margin of 1.31%. The firm had revenue of $345.90 million during the quarter, compared to the consensus estimate of $369.33 million. During the same quarter in the prior year, the business earned $0.04 earnings per share. Titan International’s revenue for the quarter was down 10.1% on a year-over-year basis.

Shares of TWI traded down $0.19 during trading hours on Friday, reaching $2.76. The stock had a trading volume of 287,785 shares, compared to its average volume of 408,856. Titan International has a 12 month low of $2.25 and a 12 month high of $7.65. The firm has a 50-day simple moving average of $2.75 and a 200 day simple moving average of $3.81. The company has a current ratio of 2.00, a quick ratio of 1.02 and a debt-to-equity ratio of 1.55. The company has a market capitalization of $181.10 million, a price-to-earnings ratio of 10.22 and a beta of 2.16.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.005 dividend. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend was Friday, September 27th. Titan International’s dividend payout ratio is currently 7.41%.

In other news, Director Maurice M. Taylor, Jr. bought 18,570 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average cost of $2.97 per share, for a total transaction of $55,152.90. Following the acquisition, the director now directly owns 702,889 shares in the company, valued at $2,087,580.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Maurice M. Taylor, Jr. bought 13,805 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price of $3.02 per share, for a total transaction of $41,691.10. Following the completion of the acquisition, the director now owns 702,889 shares in the company, valued at $2,122,724.78. The disclosure for this purchase can be found here. 17.80% of the stock is owned by company insiders.

A number of equities analysts recently issued reports on the company. TheStreet cut Titan International from a “c-” rating to a “d+” rating in a report on Friday, August 2nd. ValuEngine upgraded Titan International from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. Finally, Zacks Investment Research cut Titan International from a “hold” rating to a “sell” rating in a report on Tuesday, August 6th.

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 North America, Europe, Latin America, the Commonwealth of Independent States region, and internationally. The company operates in three segments: Agricultural, Earthmoving/Construction, and Consumer.

Recommended Story: What are no-load funds?

Earnings History for Titan International (NYSE:TWI)

Receive News & Ratings for Titan International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Titan International and related companies with MarketBeat.com's FREE daily email newsletter.