Titan Machinery Inc. (TITN) Expected to Announce Earnings of $0.13 Per Share
Equities research analysts predict that Titan Machinery Inc. (NASDAQ:TITN) will post earnings per share of $0.13 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Titan Machinery’s earnings, with estimates ranging from $0.08 to $0.21. Titan Machinery posted earnings of ($0.01) per share in the same quarter last year, which would indicate a positive year over year growth rate of 1,400%. The firm is expected to report its next quarterly earnings report on Wednesday, November 29th.
On average, analysts expect that Titan Machinery will report full year earnings of ($0.14) per share for the current financial year, with EPS estimates ranging from ($0.24) to $0.02. For the next year, analysts anticipate that the business will post earnings of $0.30 per share, with EPS estimates ranging from $0.12 to $0.52. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Titan Machinery.
Titan Machinery (NASDAQ:TITN) last posted its earnings results on Thursday, August 31st. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03). Titan Machinery had a negative return on equity of 3.69% and a negative net margin of 1.61%. The business had revenue of $268.87 million for the quarter, compared to the consensus estimate of $260.08 million. During the same period in the previous year, the company posted ($0.12) earnings per share. Titan Machinery’s revenue for the quarter was down 3.4% compared to the same quarter last year.
A number of equities research analysts have weighed in on the company. ValuEngine upgraded Titan Machinery from a “sell” rating to a “hold” rating in a report on Thursday, September 7th. Zacks Investment Research downgraded Titan Machinery from a “hold” rating to a “sell” rating in a report on Thursday, September 7th. Robert W. Baird set a $18.00 target price on Titan Machinery and gave the stock a “buy” rating in a report on Thursday, August 24th. Piper Jaffray Companies set a $18.00 target price on Titan Machinery and gave the stock a “hold” rating in a report on Friday, August 4th. Finally, BidaskClub downgraded Titan Machinery from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $18.50.
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Shares of Titan Machinery (NASDAQ TITN) opened at 14.03 on Friday. Titan Machinery has a 1-year low of $8.68 and a 1-year high of $19.22. The company’s market capitalization is $302.28 million. The company’s 50-day moving average price is $15.57 and its 200-day moving average price is $15.97.
In other news, Director Stan K. Erickson acquired 8,302 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was purchased at an average price of $12.50 per share, for a total transaction of $103,775.00. Following the completion of the acquisition, the director now directly owns 13,495 shares in the company, valued at approximately $168,687.50. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 16.08% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd increased its holdings in shares of Titan Machinery by 29.0% during the second quarter. Dynamic Technology Lab Private Ltd now owns 13,068 shares of the company’s stock valued at $235,000 after acquiring an additional 2,939 shares in the last quarter. Sterling Capital Management LLC bought a new stake in shares of Titan Machinery during the second quarter valued at approximately $788,000. The Manufacturers Life Insurance Company increased its holdings in shares of Titan Machinery by 14.1% during the second quarter. The Manufacturers Life Insurance Company now owns 16,622 shares of the company’s stock valued at $298,000 after acquiring an additional 2,054 shares in the last quarter. State Street Corp increased its holdings in shares of Titan Machinery by 10.1% during the second quarter. State Street Corp now owns 328,539 shares of the company’s stock valued at $5,910,000 after acquiring an additional 30,139 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. increased its holdings in shares of Titan Machinery by 170.4% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 59,504 shares of the company’s stock valued at $1,069,000 after acquiring an additional 37,500 shares in the last quarter. Hedge funds and other institutional investors own 77.45% 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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