Wall Street brokerages forecast that Titan Machinery Inc. (NASDAQ:TITN) will post ($0.07) earnings per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Titan Machinery’s earnings, with the highest EPS estimate coming in at ($0.05) and the lowest estimate coming in at ($0.09). Titan Machinery reported earnings per share of ($0.31) during the same quarter last year, which suggests a positive year-over-year growth rate of 77.4%. The company is scheduled to issue its next earnings report on Thursday, March 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 financial year, analysts forecast that the company will report earnings of $0.15 per share, with EPS estimates ranging from ($0.06) to $0.35. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that follow Titan Machinery.

Titan Machinery (NASDAQ:TITN) last posted its earnings results on Thursday, November 30th. The company reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.12. Titan Machinery had a negative net margin of 1.44% and a negative return on equity of 2.29%. The company had revenue of $330.34 million for the quarter, compared to analyst estimates of $306.74 million. During the same quarter in the prior year, the business posted ($0.01) EPS. The firm’s revenue was down .6% compared to the same quarter last year.

TITN has been the topic of a number of analyst reports. BidaskClub lowered shares of Titan Machinery from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Piper Jaffray Companies set a $18.00 target price on shares of Titan Machinery and gave the stock a “hold” rating in a report on Friday, August 4th. Robert W. Baird set a $18.00 target price on shares of Titan Machinery and gave the stock a “buy” rating in a report on Thursday, August 24th. ValuEngine lowered shares of Titan Machinery from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Finally, Zacks Investment Research lowered shares of Titan Machinery from a “hold” rating to a “sell” rating in a report on Thursday, September 7th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Titan Machinery presently has a consensus rating of “Hold” and a consensus price target of $20.67.

In other news, Director Stan K. Erickson acquired 8,302 shares of Titan Machinery stock in a transaction on Wednesday, September 6th. The stock was acquired at an average cost of $12.50 per share, with a total value of $103,775.00. Following the transaction, the director now owns 13,495 shares of the company’s stock, valued at approximately $168,687.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 16.08% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. grew its position in 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 purchasing an additional 6,594 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Titan Machinery by 14.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,114,632 shares of the company’s stock worth $17,310,000 after purchasing an additional 137,008 shares in the last quarter. Vanguard Group Inc. grew its position in Titan Machinery by 3.4% in the 2nd quarter. Vanguard Group Inc. now owns 738,459 shares of the company’s stock worth $13,277,000 after purchasing an additional 24,232 shares in the last quarter. Granahan Investment Management Inc. MA grew its position in Titan Machinery by 36.1% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 530,067 shares of the company’s stock worth $8,232,000 after purchasing an additional 140,498 shares in the last quarter. Finally, Boston Partners grew its position in Titan Machinery by 13.8% in the 3rd quarter. Boston Partners now owns 494,690 shares of the company’s stock worth $7,683,000 after purchasing an additional 59,910 shares in the last quarter. 76.37% of the stock is owned by institutional investors and hedge funds.

Titan Machinery (NASDAQ TITN) traded up $2.57 on Friday, hitting $21.57. 1,010,000 shares of the company were exchanged, compared to its average volume of 130,008. The company has a current ratio of 1.74, a quick ratio of 0.37 and a debt-to-equity ratio of 0.38. Titan Machinery has a 12 month low of $11.68 and a 12 month high of $21.67.

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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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Earnings History and Estimates for Titan Machinery (NASDAQ:TITN)

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