$0.09 EPS Expected for Titan Machinery Inc. (TITN) This Quarter
Brokerages expect Titan Machinery Inc. (NASDAQ:TITN) to announce earnings of $0.09 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Titan Machinery’s earnings. The highest EPS estimate is $0.13 and the lowest is $0.06. Titan Machinery reported earnings of ($0.01) per share in the same quarter last year, which would suggest a positive year over year growth rate of 1,000%. The firm is expected to issue its next earnings results on Wednesday, November 29th.
According to Zacks, analysts expect that Titan Machinery will report full year earnings of ($0.22) per share for the current financial year, with EPS estimates ranging from ($0.26) to ($0.15). For the next fiscal year, analysts forecast that the firm will report earnings of $0.15 per share, with EPS estimates ranging from ($0.06) to $0.35. Zacks’ EPS averages are a mean average based on a survey of research firms 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 net margin of 1.61% and a negative return on equity of 3.69%. The firm had revenue of $268.87 million during the quarter, compared to the consensus estimate of $260.08 million. During the same quarter last year, the firm posted ($0.12) EPS. The business’s revenue was down 3.4% on a year-over-year basis.
TITN has been the topic of several recent analyst reports. Piper Jaffray Companies reiterated a “hold” rating on shares of Titan Machinery in a research report on Thursday, September 28th. ValuEngine upgraded shares of Titan Machinery from a “sell” rating to a “hold” rating in a research report on Thursday, September 7th. Zacks Investment Research cut shares of Titan Machinery from a “hold” rating to a “sell” rating in a research report on Thursday, September 7th. Robert W. Baird set a $18.00 price objective on shares of Titan Machinery and gave the company a “buy” rating in a research report on Thursday, August 24th. Finally, BidaskClub lowered shares of Titan Machinery from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $18.00.
In other news, Director Stan K. Erickson acquired 8,302 shares of the company’s stock in a transaction on Wednesday, September 6th. The stock was bought at an average cost of $12.50 per share, with a total value of $103,775.00. Following the completion of the purchase, the director now directly owns 13,495 shares of the company’s stock, valued at $168,687.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 16.08% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of TITN. American International Group Inc. boosted its stake in Titan Machinery by 7.2% during the first quarter. American International Group Inc. now owns 10,919 shares of the company’s stock worth $167,000 after buying an additional 729 shares during the period. Numeric Investors LLC purchased a new position in Titan Machinery during the second quarter worth $191,000. Voya Investment Management LLC boosted its stake in Titan Machinery by 14.2% during the second quarter. Voya Investment Management LLC now owns 11,520 shares of the company’s stock worth $207,000 after buying an additional 1,429 shares during the period. Dynamic Technology Lab Private Ltd boosted its stake in Titan Machinery by 29.0% during the second quarter. Dynamic Technology Lab Private Ltd now owns 13,068 shares of the company’s stock worth $235,000 after buying an additional 2,939 shares during the period. Finally, Sei Investments Co. boosted its stake in Titan Machinery by 195.0% during the first quarter. Sei Investments Co. now owns 16,746 shares of the company’s stock worth $257,000 after buying an additional 11,070 shares during the period. 76.37% of the stock is owned by institutional investors.
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Titan Machinery (NASDAQ:TITN) traded up 1.12% on Tuesday, hitting $14.45. 106,638 shares of the stock were exchanged. Titan Machinery has a 1-year low of $8.68 and a 1-year high of $19.22. The company has a 50-day moving average price of $14.75 and a 200 day moving average price of $16.20. The company’s market capitalization is $311.33 million.
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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