$0.10 EPS Expected for Titan Machinery Inc. (TITN) This Quarter
Equities research analysts forecast that Titan Machinery Inc. (NASDAQ:TITN) will report earnings per share (EPS) of $0.10 for the current quarter, according to Zacks. Three analysts have provided estimates for Titan Machinery’s earnings. The lowest EPS estimate is $0.08 and the highest is $0.13. Titan Machinery posted earnings of ($0.01) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 1,100%. The business is scheduled to announce its next quarterly earnings results on Wednesday, November 29th.
On average, analysts expect that Titan Machinery will report full year earnings of ($0.20) per share for the current year, with EPS estimates ranging from ($0.24) to ($0.15). For the next year, analysts expect that the business will report earnings of $0.23 per share, with EPS estimates ranging from $0.12 to $0.35. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that cover Titan Machinery.
Titan Machinery (NASDAQ:TITN) last announced its quarterly earnings data on Thursday, August 31st. The company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.03). The business had revenue of $268.87 million during the quarter, compared to the consensus estimate of $260.08 million. Titan Machinery had a negative net margin of 1.61% and a negative return on equity of 3.69%. The business’s revenue was down 3.4% compared to the same quarter last year. During the same period last year, the company earned ($0.12) EPS.
A number of research firms have commented on TITN. Piper Jaffray Companies set a $18.00 target price on Titan Machinery and gave the company a “hold” rating in a research report on Friday, August 4th. BidaskClub downgraded Titan Machinery from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. Robert W. Baird set a $18.00 target price on Titan Machinery and gave the company a “buy” rating in a research report on Thursday, August 24th. ValuEngine upgraded Titan Machinery from a “sell” rating to a “hold” rating in a research report on Thursday, September 7th. Finally, Zacks Investment Research downgraded Titan Machinery from a “buy” rating to a “hold” rating in a research report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Titan Machinery currently has a consensus rating of “Hold” and a consensus target price of $18.00.
In other news, Director Stan K. Erickson acquired 8,302 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The shares were purchased at an average price of $12.50 per share, for a total transaction of $103,775.00. Following the acquisition, the director now owns 13,495 shares of the company’s stock, valued at $168,687.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 16.08% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Federated Investors Inc. PA raised its holdings in shares of Titan Machinery by 58.5% in the 2nd quarter. Federated Investors Inc. PA now owns 416,032 shares of the company’s stock valued at $7,480,000 after buying an additional 153,596 shares during the period. Oxford Asset Management purchased a new stake in shares of Titan Machinery in the 1st quarter valued at $168,000. Vanguard Group Inc. raised its holdings in shares of Titan Machinery by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 714,227 shares of the company’s stock valued at $10,956,000 after buying an additional 44,131 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Titan Machinery by 35.5% in the 1st quarter. JPMorgan Chase & Co. now owns 1,214,699 shares of the company’s stock valued at $18,634,000 after buying an additional 318,205 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in shares of Titan Machinery by 9.3% in the 1st quarter. Russell Investments Group Ltd. now owns 225,541 shares of the company’s stock valued at $3,460,000 after buying an additional 19,200 shares during the period. Hedge funds and other institutional investors own 76.78% of the company’s stock.
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Titan Machinery (TITN) opened at 15.89 on Friday. Titan Machinery has a 12 month low of $8.68 and a 12 month high of $19.22. The company’s market cap is $342.35 million. The firm has a 50-day moving average price of $14.82 and a 200 day moving average price of $16.12.
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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