Titan International Inc. (TWI) Shares Down 5.3%
Titan International Inc. (NYSE:TWI)’s share price traded down 5.3% on Wednesday . The company traded as low as $8.64 and last traded at $8.65, with a volume of 264,575 shares trading hands. The stock had previously closed at $9.13.
TWI has been the subject of several recent analyst reports. Zacks Investment Research lowered Titan International from a “hold” rating to a “sell” rating in a research note on Wednesday, May 11th. Jefferies Group lifted their price target on Titan International from $6.00 to $8.00 and gave the company a “hold” rating in a research note on Friday, August 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $8.68.
The stock has a 50 day moving average of $6.75 and a 200-day moving average of $5.74. The stock’s market cap is $480.47 million.
Titan International (NYSE:TWI) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04). During the same quarter in the prior year, the company earned $0.02 EPS. The company earned $330.20 million during the quarter, compared to analyst estimates of $330.92 million. The business’s revenue was down 12.2% on a year-over-year basis. On average, equities analysts anticipate that Titan International Inc. will post ($0.54) earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were paid a $0.005 dividend. The ex-dividend date was Tuesday, June 28th. This represents a $0.02 annualized dividend and a yield of 0.22%.
Titan International, Inc is a manufacturer of wheels, tires and undercarriage systems and components for off-highway vehicles used in the agricultural, earthmoving/construction and consumer segments. The Company operates through three segments: agricultural, earthmoving/construction and consumer. The Company’s agricultural market includes rims, wheels, tires and undercarriage systems and components manufactured for use on various agricultural and forestry equipment.
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