Wall Street brokerages expect that Titan Machinery Inc. (NASDAQ:TITN) will announce $0.36 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Titan Machinery’s earnings. The highest EPS estimate is $0.37 and the lowest is $0.35. Titan Machinery posted earnings per share of $0.20 during the same quarter last year, which would suggest a positive year over year growth rate of 80%. The company is expected to announce its next quarterly earnings results on Thursday, November 29th.
On average, analysts expect that Titan Machinery will report full-year earnings of $0.61 per share for the current year, with EPS estimates ranging from $0.57 to $0.65. For the next financial year, analysts anticipate that the company will report earnings of $1.08 per share, with EPS estimates ranging from $1.05 to $1.10. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that follow Titan Machinery.
Titan Machinery (NASDAQ:TITN) last issued its earnings results on Thursday, August 30th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.16. The company had revenue of $299.89 million for the quarter, compared to the consensus estimate of $291.08 million. Titan Machinery had a return on equity of 2.16% and a net margin of 0.63%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.04) EPS.
TITN has been the subject of several recent research reports. ValuEngine raised Titan Machinery from a “hold” rating to a “buy” rating in a research note on Thursday, August 30th. BidaskClub cut Titan Machinery from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. Finally, Zacks Investment Research cut Titan Machinery from a “hold” rating to a “sell” rating in a research note on Thursday, July 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Titan Machinery has a consensus rating of “Hold” and a consensus price target of $22.75.
Shares of NASDAQ TITN opened at $14.85 on Wednesday. The company has a market capitalization of $310.39 million, a P/E ratio of -123.75 and a beta of 1.69. Titan Machinery has a 52 week low of $13.28 and a 52 week high of $25.09. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.43 and a quick ratio of 0.29.
Several hedge funds and other institutional investors have recently made changes to their positions in TITN. Acadian Asset Management LLC bought a new stake in shares of Titan Machinery in the 2nd quarter valued at approximately $6,218,000. Northpointe Capital LLC bought a new stake in shares of Titan Machinery in the 2nd quarter valued at approximately $4,026,000. Dimensional Fund Advisors LP boosted its position in Titan Machinery by 16.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,675,678 shares of the company’s stock worth $26,057,000 after purchasing an additional 238,583 shares during the period. United Services Automobile Association boosted its position in Titan Machinery by 101.0% during the second quarter. United Services Automobile Association now owns 428,222 shares of the company’s stock worth $8,933,000 after purchasing an additional 215,128 shares during the period. Finally, Global Alpha Capital Management Ltd. boosted its position in Titan Machinery by 71.5% during the second quarter. Global Alpha Capital Management Ltd. now owns 412,379 shares of the company’s stock worth $6,412,000 after purchasing an additional 171,934 shares during the period. 80.88% of the stock is owned by institutional investors and hedge funds.
Titan Machinery Company Profile
Titan Machinery Inc owns and operates a network of full-service agricultural and construction equipment stores. It operates through three segments: Agriculture, Construction, and International. The company sells new and used equipment, including agricultural and construction equipment manufactured under the CNH family of brands, as well as equipment from various other manufacturers.
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