Brokerages Anticipate Titan Machinery Inc. (TITN) Will Announce Earnings of -$0.13 Per Share

Brokerages forecast that Titan Machinery Inc. (NASDAQ:TITN) will report ($0.13) earnings per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Titan Machinery’s earnings, with estimates ranging from ($0.17) to ($0.08). Titan Machinery posted earnings per share of ($0.31) in the same quarter last year, which would suggest a positive year over year growth rate of 58.1%. The business is expected to report its next earnings report on Thursday, March 29th.

According to Zacks, analysts expect that Titan Machinery will report full-year earnings of ($0.19) per share for the current year, with EPS estimates ranging from ($0.25) to ($0.12). For the next year, analysts expect that the company will report earnings of $0.25 per share, with EPS estimates ranging from $0.09 to $0.55. Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for Titan Machinery.

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

TITN has been the topic of a number of recent analyst reports. BidaskClub downgraded shares of Titan Machinery from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 18th. Zacks Investment Research raised shares of Titan Machinery from a “sell” rating to a “hold” rating in a report on Wednesday, November 29th. Piper Jaffray Companies set a $19.00 price target on shares of Titan Machinery and gave the stock a “hold” rating in a report on Friday, December 1st. Robert W. Baird reissued an “outperform” rating and issued a $25.00 price target (up from $18.00) on shares of Titan Machinery in a report on Friday, December 1st. Finally, William Blair raised shares of Titan Machinery from an “underperform” rating to a “market perform” rating in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $23.00.

Shares of Titan Machinery (NASDAQ TITN) opened at $18.59 on Friday. The company has a market cap of $428.64, a PE ratio of -23.83, a price-to-earnings-growth ratio of 5.22 and a beta of 1.61. Titan Machinery has a fifty-two week low of $11.68 and a fifty-two week high of $24.19. The company has a current ratio of 1.70, a quick ratio of 0.33 and a debt-to-equity ratio of 0.31.

In other news, CEO David Joseph Meyer sold 61,796 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $21.85, for a total value of $1,350,242.60. Following the sale, the chief executive officer now directly 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 SEC, which is available at this link. Corporate insiders own 16.08% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Voya Investment Management LLC lifted its holdings in shares of 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. The Manufacturers Life Insurance Company lifted its holdings in shares of Titan Machinery by 14.1% in the second quarter. The Manufacturers Life Insurance Company now owns 16,622 shares of the company’s stock worth $298,000 after buying an additional 2,054 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its holdings in shares of 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. OxFORD Asset Management LLP lifted its holdings in shares of Titan Machinery by 35.9% in the second quarter. OxFORD Asset Management LLP now owns 14,844 shares of the company’s stock worth $267,000 after buying an additional 3,924 shares in the last quarter. Finally, Teton Advisors Inc. increased its position in shares of Titan Machinery by 3.4% in the fourth quarter. Teton Advisors Inc. now owns 134,688 shares of the company’s stock worth $2,851,000 after purchasing an additional 4,455 shares during the last quarter. 76.10% of the stock is currently owned by hedge funds and other institutional investors.

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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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