Titan International (NYSE:TWI) Posts Earnings Results, Misses Expectations By $0.15 EPS

Titan International (NYSE:TWI) announced its quarterly 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 company had revenue of $482.21 million for the quarter, compared to analyst estimates of $537.32 million. During the same quarter in the prior year, the business earned $0.53 earnings per share. Titan International updated its Q2 2024 guidance to EPS.

Titan International Stock Down 6.4 %

TWI stock traded down $0.72 during midday trading on Thursday, hitting $10.45. The company’s stock had a trading volume of 1,260,511 shares, compared to its average volume of 296,151. The firm has a 50-day simple moving average of $12.36 and a 200-day simple moving average of $13.25. The firm has a market capitalization of $761.49 million, a P/E 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 52-week low of $9.57 and a 52-week high of $15.33.

Insider Activity at Titan International

In other Titan International news, CAO Anthony Eheli sold 2,500 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $12.42, for a total transaction of $31,050.00. Following the sale, 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 SEC, which is available through the SEC website. 18.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, TheStreet lowered 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.