Analysts forecast that Titan Machinery Inc. (NASDAQ:TITN) will announce earnings of $0.36 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Titan Machinery’s earnings, with the highest EPS estimate coming in at $0.37 and the lowest estimate coming in at $0.35. Titan Machinery posted earnings of $0.20 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 80%. The business is scheduled to issue its next earnings results on Thursday, November 29th.
On average, analysts expect that Titan Machinery will report full-year earnings of $0.54 per share for the current financial year, with EPS estimates ranging from $0.38 to $0.65. For the next fiscal year, analysts anticipate that the firm will post earnings of $0.90 per share, with EPS estimates ranging from $0.55 to $1.10. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow Titan Machinery.
Titan Machinery (NASDAQ:TITN) last released its quarterly earnings results on Thursday, August 30th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.16. Titan Machinery had a return on equity of 2.17% and a net margin of 0.63%. The company had revenue of $299.89 million for the quarter, compared to analysts’ expectations of $291.08 million. During the same period in the prior year, the firm earned ($0.04) earnings per share. The firm’s revenue was up 11.5% compared to the same quarter last year.
A number of research firms have recently weighed in on TITN. ValuEngine lowered Titan Machinery from a “hold” rating to a “sell” rating in a research report on Wednesday, July 11th. BidaskClub raised Titan Machinery from a “sell” rating to a “hold” rating in a research report on Wednesday, May 30th. Finally, Zacks Investment Research lowered Titan Machinery from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 5th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $22.75.
Titan Machinery stock opened at $17.93 on Monday. Titan Machinery has a twelve month low of $11.97 and a twelve month high of $25.09. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.34 and a current ratio of 1.66. The firm has a market cap of $398.76 million, a PE ratio of 58.26 and a beta of 1.62.
Institutional investors have recently bought and sold shares of the company. Sun Life Financial INC purchased a new stake in shares of Titan Machinery during the second quarter worth $187,000. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Titan Machinery by 342.9% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 52,981 shares of the company’s stock worth $824,000 after acquiring an additional 41,020 shares during the period. Acadian Asset Management LLC purchased a new position in Titan Machinery in the second quarter valued at $6,218,000. Prudential Financial Inc. increased its holdings in Titan Machinery by 238.9% in the first quarter. Prudential Financial Inc. now owns 60,479 shares of the company’s stock valued at $1,424,000 after buying an additional 42,635 shares during the last quarter. Finally, Wedge Capital Management L L P NC increased its holdings in Titan Machinery by 560.0% in the second quarter. Wedge Capital Management L L P NC now owns 87,975 shares of the company’s stock valued at $1,368,000 after buying an additional 74,645 shares during the last quarter. 82.55% of the stock is currently owned by institutional investors and hedge funds.
Titan Machinery Company Profile
Titan Machinery Inc owns and operates a network of full-service agricultural and construction equipment stores. It operates through three segments: Agriculture, Construction, and International. The company sells new and used equipment, including agricultural and construction equipment manufactured under the CNH family of brands, as well as equipment from various other manufacturers.
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