Analysts predict that Titan Machinery Inc. (NASDAQ:TITN) will post ($0.13) earnings per share for the current quarter, according to Zacks. Three analysts have provided estimates for Titan Machinery’s earnings, with the lowest EPS estimate coming in at ($0.17) and the highest estimate coming in at ($0.08). Titan Machinery posted earnings per share of ($0.31) during the same quarter last year, which indicates a positive year-over-year growth rate of 58.1%. The firm is expected to announce its next earnings results on Thursday, March 29th.
According to Zacks, analysts expect that Titan Machinery will report full year earnings of ($0.20) per share for the current financial year, with EPS estimates ranging from ($0.26) to ($0.12). For the next fiscal year, analysts expect that the firm will report earnings of $0.22 per share, with EPS estimates ranging from ($0.06) to $0.55. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Titan Machinery.
Titan Machinery (NASDAQ:TITN) last released its quarterly earnings results on Thursday, November 30th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.12. The company had revenue of $330.34 million for the quarter, compared to analysts’ expectations of $306.74 million. Titan Machinery had a negative net margin of 1.44% and a negative return on equity of 2.29%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the company earned ($0.01) EPS.
Several research analysts have recently weighed in on TITN shares. Piper Jaffray Companies reiterated a “hold” rating on shares of Titan Machinery in a report on Thursday, September 28th. Robert W. Baird reiterated an “outperform” rating and set a $25.00 price objective (up from $18.00) on shares of Titan Machinery in a report on Friday, December 1st. Zacks Investment Research upgraded shares of Titan Machinery from a “sell” rating to a “hold” rating in a report on Wednesday, November 29th. BidaskClub upgraded shares of Titan Machinery from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 5th. Finally, William Blair upgraded shares of Titan Machinery from an “underperform” rating to a “market perform” rating in a report on Tuesday, January 2nd. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $21.75.
In other news, CEO David Joseph Meyer sold 61,796 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $21.85, for a total transaction of $1,350,242.60. Following the transaction, the chief executive officer now directly owns 715,864 shares in the company, valued at approximately $15,641,628.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 16.08% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of TITN. Public Employees Retirement System of Ohio purchased a new position in Titan Machinery in the third quarter valued at approximately $155,000. Numeric Investors LLC purchased a new position in Titan Machinery in the second quarter valued at approximately $191,000. Voya Investment Management LLC raised its holdings in Titan Machinery by 14.2% in the second quarter. Voya Investment Management LLC now owns 11,520 shares of the company’s stock valued at $207,000 after buying an additional 1,429 shares during the period. Prudential Financial Inc. purchased a new position in Titan Machinery in the third quarter valued at approximately $211,000. Finally, Dynamic Technology Lab Private Ltd raised its holdings in Titan Machinery by 29.0% in the second quarter. Dynamic Technology Lab Private Ltd now owns 13,068 shares of the company’s stock valued at $235,000 after buying an additional 2,939 shares during the period. Hedge funds and other institutional investors own 76.20% of the company’s stock.
Shares of Titan Machinery (TITN) traded down $0.39 during mid-day trading on Friday, hitting $23.23. 297,045 shares of the stock traded hands, compared to its average volume of 346,767. The stock has a market cap of $521.87, a price-to-earnings ratio of -30.17 and a beta of 1.76. Titan Machinery has a 1-year low of $11.68 and a 1-year high of $23.82. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.33 and a current ratio of 1.70.
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Titan Machinery Company Profile
Titan Machinery Inc owns and operates a network of service agricultural and construction equipment stores in the United States and Europe. The Company engages in four principal business activities: new and used equipment sales; parts sales; repair and maintenance services, and equipment rental and other activities.
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