Titan Machinery Inc. (TITN) to Release Earnings on Wednesday
Titan Machinery Inc. (NASDAQ:TITN) is set to release its earnings data before the market opens on Wednesday, August 23rd. Analysts expect Titan Machinery to post earnings of ($0.02) per share for the quarter.
Titan Machinery (NASDAQ:TITN) last issued its quarterly earnings results on Thursday, May 25th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.13) by $0.06. The company had revenue of $264.10 million during the quarter, compared to analysts’ expectations of $257 million. Titan Machinery had a negative return on equity of 4.11% and a negative net margin of 1.37%. Titan Machinery’s 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) EPS. On average, analysts expect Titan Machinery to post $0.03 EPS for the current fiscal year and $0.42 EPS for the next fiscal year.
Shares of Titan Machinery Inc. (TITN) opened at 16.94 on Wednesday. The company has a 50-day moving average of $17.59 and a 200 day moving average of $15.87. Titan Machinery Inc. has a one year low of $8.68 and a one year high of $19.22. The stock’s market cap is $362.04 million.
Several research analysts have issued reports on TITN shares. Zacks Investment Research cut Titan Machinery from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. BidaskClub cut Titan Machinery from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 12th. ValuEngine upgraded Titan Machinery from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Piper Jaffray Companies set a $18.00 price objective on Titan Machinery and gave the stock a “hold” rating in a research report on Friday, August 4th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $18.67.
In other Titan Machinery news, Chairman David Joseph Meyer sold 44,950 shares of the stock in a transaction on Friday, May 26th. The stock was sold at an average price of $17.25, for a total value of $775,387.50. Following the completion of the transaction, the chairman now owns 724,660 shares in the company, valued at $12,500,385. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 16.08% of the company’s stock.
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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