Equities analysts forecast that Titan Machinery Inc. (NASDAQ:TITN) will announce $318.50 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Titan Machinery’s earnings. The lowest sales estimate is $315.80 million and the highest is $321.20 million. Titan Machinery reported sales of $299.89 million in the same quarter last year, which suggests a positive year over year growth rate of 6.2%. The firm is scheduled to announce its next quarterly earnings results on Thursday, August 29th.
According to Zacks, analysts expect that Titan Machinery will report full year sales of $1.34 billion for the current fiscal year, with estimates ranging from $1.33 billion to $1.34 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.40 billion, with estimates ranging from $1.38 billion to $1.41 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that cover Titan Machinery.
Titan Machinery (NASDAQ:TITN) last released its earnings results on Thursday, May 30th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.07. Titan Machinery had a return on equity of 5.06% and a net margin of 1.03%. The firm had revenue of $278.29 million during the quarter, compared to analysts’ expectations of $250.38 million. During the same period in the prior year, the company earned ($0.07) earnings per share. The company’s quarterly revenue was up 14.2% on a year-over-year basis.
TITN has been the subject of several recent analyst reports. TheStreet cut Titan Machinery from a “b” rating to a “c+” rating in a research note on Thursday, March 28th. BidaskClub cut Titan Machinery from a “hold” rating to a “sell” rating in a research note on Tuesday, June 11th. Zacks Investment Research upgraded Titan Machinery from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Wednesday, February 27th. Robert W. Baird cut Titan Machinery from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $26.00 to $18.00 in a research note on Monday, May 13th. Finally, ValuEngine cut Titan Machinery from a “hold” rating to a “sell” rating in a research note on Saturday, March 30th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Titan Machinery has an average rating of “Buy” and a consensus target price of $21.50.
NASDAQ TITN traded up $0.63 on Thursday, hitting $18.43. 242,332 shares of the company’s stock were exchanged, compared to its average volume of 172,595. The business has a 50-day moving average price of $16.43. The company has a current ratio of 1.39, a quick ratio of 0.31 and a debt-to-equity ratio of 0.36. Titan Machinery has a 52 week low of $11.99 and a 52 week high of $20.85. The company has a market cap of $393.91 million, a PE ratio of 27.51 and a beta of 2.05.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Citigroup Inc. increased its holdings in shares of Titan Machinery by 12.3% during the fourth quarter. Citigroup Inc. now owns 7,025 shares of the company’s stock worth $92,000 after buying an additional 769 shares in the last quarter. Macquarie Group Ltd. increased its holdings in shares of Titan Machinery by 33.3% during the fourth quarter. Macquarie Group Ltd. now owns 3,199 shares of the company’s stock worth $42,000 after buying an additional 800 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Titan Machinery by 51.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,534 shares of the company’s stock worth $33,000 after buying an additional 866 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its holdings in shares of Titan Machinery by 8.7% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 16,162 shares of the company’s stock worth $251,000 after buying an additional 1,300 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Titan Machinery by 51.7% during the fourth quarter. Legal & General Group Plc now owns 4,110 shares of the company’s stock worth $55,000 after buying an additional 1,400 shares in the last quarter. Hedge funds and other institutional investors own 79.06% of the company’s stock.
About Titan Machinery
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 Industrial family of brands, as well as equipment from various other manufacturers.
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