Titan Machinery Inc. (TITN) Expected to Announce Quarterly Sales of $309.40 Million
Analysts forecast that Titan Machinery Inc. (NASDAQ:TITN) will announce $309.40 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Titan Machinery’s earnings, with estimates ranging from $303.10 million to $314.40 million. Titan Machinery reported sales of $332.27 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 6.9%. The company is scheduled to report its next earnings report on Wednesday, November 29th.
On average, analysts expect that Titan Machinery will report full year sales of $309.40 million for the current financial year, with estimates ranging from $1.12 billion to $1.16 billion. For the next year, analysts expect that the business will post sales of $1.15 billion per share, with estimates ranging from $1.13 billion to $1.17 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Titan Machinery.
Titan Machinery (NASDAQ:TITN) last issued its quarterly 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). The business had revenue of $268.87 million for the quarter, compared to analysts’ expectations of $260.08 million. Titan Machinery had a negative return on equity of 3.69% and a negative net margin of 1.61%. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.12) EPS.
COPYRIGHT VIOLATION NOTICE: “Titan Machinery Inc. (TITN) Expected to Announce Quarterly Sales of $309.40 Million” was first posted by American Banking News and is owned by of American Banking News. If you are accessing this piece of content on another domain, it was illegally stolen and republished in violation of U.S. and international trademark and copyright law. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/10/26/titan-machinery-inc-titn-expected-to-announce-quarterly-sales-of-309-40-million.html.
In other news, Director Stan K. Erickson purchased 8,302 shares of the stock in a transaction that occurred on Wednesday, September 6th. The shares were acquired at an average price of $12.50 per share, for a total transaction of $103,775.00. Following the acquisition, the director now directly owns 13,495 shares in the company, valued at approximately $168,687.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 16.08% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Federated Investors Inc. PA grew 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 worth $7,480,000 after acquiring an additional 153,596 shares during the period. Vanguard Group Inc. grew 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 worth $10,956,000 after acquiring an additional 44,131 shares during the period. Geode Capital Management LLC grew its holdings in shares of Titan Machinery by 3.3% in the 1st quarter. Geode Capital Management LLC now owns 134,921 shares of the company’s stock worth $2,069,000 after acquiring an additional 4,283 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Titan Machinery by 0.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,221,293 shares of the company’s stock worth $21,959,000 after acquiring an additional 6,594 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in shares of Titan Machinery by 16.8% in the 2nd quarter. Acadian Asset Management LLC now owns 404,349 shares of the company’s stock worth $7,270,000 after acquiring an additional 58,232 shares during the period. Institutional investors and hedge funds own 76.37% of the company’s stock.
Titan Machinery (NASDAQ TITN) opened at 14.74 on Thursday. Titan Machinery has a 12 month low of $8.68 and a 12 month high of $19.22. The stock’s market cap is $317.57 million. The firm’s 50-day moving average price is $14.82 and its 200-day moving average price is $16.19.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Titan Machinery Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Titan Machinery Inc. and related companies with MarketBeat.com's FREE daily email newsletter.