Titan Machinery Inc. (TITN) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS
Titan Machinery Inc. (NASDAQ:TITN) announced its earnings results on Thursday. The company reported ($0.19) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by $0.03. The company had revenue of $264.10 million for the quarter, compared to analyst estimates of $257 million. Titan Machinery had a negative return on equity of 10.64% and a negative net margin of 3.33%. The firm’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.21) earnings per share.
Titan Machinery (NASDAQ:TITN) opened at 15.67 on Thursday. The stock has a 50 day moving average price of $15.33 and a 200-day moving average price of $14.19. Titan Machinery has a 52 week low of $8.68 and a 52 week high of $16.80. The firm’s market capitalization is $334.18 million.
Several hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new stake in Titan Machinery during the fourth quarter worth $3,016,000. State Street Corp raised its stake in Titan Machinery by 6.8% in the fourth quarter. State Street Corp now owns 297,767 shares of the company’s stock worth $4,339,000 after buying an additional 18,839 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Titan Machinery by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 759,168 shares of the company’s stock worth $11,061,000 after buying an additional 20,115 shares in the last quarter. Federated Investors Inc. PA raised its stake in Titan Machinery by 1,667.2% in the fourth quarter. Federated Investors Inc. PA now owns 216,284 shares of the company’s stock worth $3,151,000 after buying an additional 204,045 shares in the last quarter. Finally, Trexquant Investment LP purchased a new stake in Titan Machinery during the fourth quarter worth $403,000. Institutional investors own 85.40% of the company’s stock.
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Several research analysts have commented on the company. Zacks Investment Research downgraded Titan Machinery from a “hold” rating to a “sell” rating in a report on Wednesday, April 12th. TheStreet raised Titan Machinery from a “d+” rating to a “c-” rating in a report on Monday, April 10th.
About Titan Machinery
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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