Titan International (NYSE:TWI) Releases Earnings Results

Titan International (NYSE:TWI) issued its earnings results on Wednesday. The industrial products company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.15), Zacks reports. Titan International had a net margin of 4.32% and a return on equity of 22.57%. The business had revenue of $482.21 million during the quarter, compared to analyst estimates of $537.32 million. During the same period in the prior year, the business posted $0.53 EPS. Titan International updated its Q2 2024 guidance to EPS.

Titan International Stock Down 6.4 %

TWI stock traded down $0.72 during mid-day trading on Thursday, reaching $10.45. 1,260,411 shares of the company traded hands, compared to its average volume of 296,404. The stock has a market cap of $761.49 million, a price-to-earnings ratio of 8.23 and a beta of 2.09. The company has a quick ratio of 1.37, a current ratio of 2.35 and a debt-to-equity ratio of 0.88. Titan International has a fifty-two week low of $9.57 and a fifty-two week high of $15.33. The firm’s 50 day moving average price is $12.36 and its 200 day moving average price is $13.25.

Insider Buying and Selling at Titan International

In other news, CAO Anthony Eheli sold 2,500 shares of the business’s stock in a transaction that occurred 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 approximately $657,241.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 18.30% of the company’s stock.

Analysts Set New Price Targets

Separately, TheStreet cut Titan International from a “b-” rating to a “c” rating in a research note 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.