Titan Machinery Inc. (TITN) Expected to Announce Quarterly Sales of $314.97 Million

Wall Street brokerages forecast that Titan Machinery Inc. (NASDAQ:TITN) will post $314.97 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Titan Machinery’s earnings, with estimates ranging from $310.80 million to $318.70 million. Titan Machinery posted sales of $317.62 million in the same quarter last year, which would indicate a negative year over year growth rate of 0.8%. The company is scheduled to report its next earnings results on Thursday, March 29th.

According to Zacks, analysts expect that Titan Machinery will report full year sales of $314.97 million for the current year, with estimates ranging from $1.13 billion to $1.18 billion. For the next year, analysts expect that the firm will report sales of $1.22 billion per share, with estimates ranging from $1.18 billion to $1.25 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Titan Machinery.

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

Several equities research analysts have recently weighed in on the company. William Blair upgraded Titan Machinery from an “underperform” rating to a “market perform” rating in a research report on Tuesday, January 2nd. Zacks Investment Research raised Titan Machinery from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Wednesday, December 6th. BidaskClub raised Titan Machinery from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 5th. Piper Jaffray Companies set a $19.00 price objective on Titan Machinery and gave the stock a “hold” rating in a report on Friday, December 1st. Finally, Robert W. Baird reissued an “outperform” rating and set a $25.00 price objective (up previously from $18.00) on shares of Titan Machinery in a report on Friday, December 1st. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $21.75.

Shares of Titan Machinery (NASDAQ:TITN) traded up $0.56 on Monday, hitting $23.62. The stock had a trading volume of 293,428 shares, compared to its average volume of 356,720. Titan Machinery has a 12-month low of $11.68 and a 12-month high of $23.79. The company has a market capitalization of $509.50, a PE ratio of -30.28 and a beta of 1.76. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.33 and a current ratio of 1.70.

In other news, CEO David Joseph Meyer sold 61,796 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $21.85, for a total transaction of $1,350,242.60. Following the completion of the transaction, the chief executive officer now owns 715,864 shares of the company’s stock, valued at $15,641,628.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.08% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio purchased a new stake in Titan Machinery in the third quarter worth approximately $155,000. Numeric Investors LLC purchased a new stake in Titan Machinery in the second quarter worth approximately $191,000. Voya Investment Management LLC boosted its stake in Titan Machinery by 14.2% in 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 in the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in Titan Machinery by 29.0% in 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 in the last quarter. Finally, Prudential Financial Inc. purchased a new stake in Titan Machinery in the third quarter worth approximately $211,000. 76.20% of the stock is owned by institutional investors and hedge funds.

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

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