Titan Machinery Inc. (TITN) Expected to Post Earnings of -$0.13 Per Share

Equities analysts forecast that Titan Machinery Inc. (NASDAQ:TITN) will post earnings per share (EPS) of ($0.13) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Titan Machinery’s earnings. The lowest EPS estimate is ($0.17) and the highest is ($0.08). Titan Machinery reported earnings per share of ($0.31) in the same quarter last year, which suggests a positive year-over-year growth rate of 58.1%. The company is expected to issue its next earnings results on Thursday, March 29th.

On average, analysts expect that Titan Machinery will report full-year earnings of ($0.19) per share for the current financial year, with EPS estimates ranging from ($0.25) to ($0.12). For the next year, analysts anticipate that the firm will post earnings of $0.25 per share, with EPS estimates ranging from $0.09 to $0.55. Zacks’ earnings per share calculations are a mean average based on a survey of research firms 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, topping analysts’ consensus estimates of $0.08 by $0.12. The business had revenue of $330.34 million for the quarter, compared to analysts’ expectations of $306.74 million. Titan Machinery had a negative return on equity of 2.29% and a negative net margin of 1.44%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.01) EPS.

A number of brokerages have recently weighed in on TITN. BidaskClub cut Titan Machinery from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 18th. Piper Jaffray Companies reiterated a “hold” rating on shares of Titan Machinery in a research report on Thursday, September 28th. 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 upgraded Titan Machinery from a “sell” rating to a “hold” rating in a research report on Wednesday, November 29th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $25.00 price objective (up 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 and three have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $23.00.

Shares of Titan Machinery (TITN) opened at $22.52 on Tuesday. The company has a current ratio of 1.70, a quick ratio of 0.33 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $497.57, a P/E ratio of -29.25 and a beta of 1.76. Titan Machinery has a 1 year low of $11.68 and a 1 year high of $24.19.

In related news, CEO David Joseph Meyer sold 61,796 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $21.85, for a total value of $1,350,242.60. Following the completion of the transaction, the chief executive officer now directly owns 715,864 shares of the company’s stock, valued at approximately $15,641,628.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 16.08% of the company’s stock.

A number of hedge funds have recently modified their holdings of TITN. Rhumbline Advisers grew its holdings in Titan Machinery by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 21,909 shares of the company’s stock worth $394,000 after buying an additional 545 shares in the last quarter. Schroder Investment Management Group bought a new position in Titan Machinery during the 2nd quarter valued at $435,000. Franklin Resources Inc. boosted its stake in Titan Machinery by 30.0% during the 2nd quarter. Franklin Resources Inc. now owns 130,000 shares of the company’s stock valued at $2,337,000 after purchasing an additional 30,000 shares in the last quarter. Alliancebernstein L.P. bought a new position in Titan Machinery during the 2nd quarter valued at $1,983,000. Finally, Teachers Advisors LLC boosted its stake in Titan Machinery by 27.0% during the 2nd quarter. Teachers Advisors LLC now owns 44,686 shares of the company’s stock valued at $803,000 after purchasing an additional 9,491 shares in the last quarter. 76.21% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: “Titan Machinery Inc. (TITN) Expected to Post Earnings of -$0.13 Per Share” was posted by American Banking News and is the property of of American Banking News. If you are reading this piece on another site, it was illegally stolen and reposted in violation of US & international trademark and copyright laws. The original version of this piece can be read at https://www.americanbankingnews.com/2018/01/23/titan-machinery-inc-titn-expected-to-post-earnings-of-0-13-per-share.html.

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.

Get a free copy of the Zacks research report on Titan Machinery (TITN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Titan Machinery Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Titan Machinery and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply