Titan Machinery Inc. (TITN) Expected to Post Quarterly Sales of $272.70 Million

Equities analysts expect that Titan Machinery Inc. (NASDAQ:TITN) will report $272.70 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Titan Machinery’s earnings. The highest sales estimate is $288.20 million and the lowest is $256.10 million. Titan Machinery reported sales of $264.12 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.2%. The company is scheduled to announce its next earnings report on Thursday, May 24th.

On average, analysts expect that Titan Machinery will report full-year sales of $1.23 billion for the current financial year, with estimates ranging from $1.18 billion to $1.27 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.33 billion per share. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Titan Machinery.

How to Become a New Pot Stock Millionaire

Titan Machinery (NASDAQ:TITN) last posted its earnings results on Thursday, March 29th. The company reported ($0.10) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.04. The company had revenue of $339.61 million for the quarter, compared to the consensus estimate of $315.08 million. Titan Machinery had a negative return on equity of 0.89% and a negative net margin of 0.59%. Titan Machinery’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.31) earnings per share.

TITN has been the subject of a number of analyst reports. BidaskClub cut Titan Machinery from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 18th. Robert W. Baird set a $26.00 price target on Titan Machinery and gave the stock a “buy” rating in a report on Thursday, March 29th. Craig Hallum reissued a “buy” rating and issued a $26.00 price target on shares of Titan Machinery in a report on Thursday, March 29th. Zacks Investment Research cut Titan Machinery from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Finally, William Blair reissued a “hold” rating on shares of Titan Machinery in a report on Wednesday, April 4th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Titan Machinery has a consensus rating of “Hold” and an average price target of $24.00.

NASDAQ TITN opened at $21.50 on Thursday. Titan Machinery has a fifty-two week low of $11.68 and a fifty-two week high of $25.09. The firm has a market capitalization of $478.06, a PE ratio of -179.17 and a beta of 1.45. The company has a quick ratio of 0.39, a current ratio of 1.83 and a debt-to-equity ratio of 0.30.

In other news, COO Bryan J. Knutson sold 2,374 shares of the business’s stock in a transaction on Tuesday, April 3rd. The stock was sold at an average price of $23.91, for a total value of $56,762.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 16.08% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC acquired a new position in shares of Titan Machinery in the fourth quarter worth $197,000. Virtu Financial LLC acquired a new position in Titan Machinery in the fourth quarter valued at $211,000. Public Employees Retirement System of Ohio acquired a new position in Titan Machinery in the third quarter valued at $155,000. Jane Street Group LLC acquired a new position in Titan Machinery in the fourth quarter valued at $251,000. Finally, Wedge Capital Management L L P NC acquired a new position in Titan Machinery in the fourth quarter valued at $257,000. 78.72% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION WARNING: This story was first reported by Week Herald and is the property of of Week Herald. If you are accessing this story on another website, it was illegally stolen and republished in violation of United States and international copyright & trademark laws. The original version of this story can be viewed at https://weekherald.com/2018/04/19/titan-machinery-inc-titn-expected-to-post-quarterly-sales-of-272-70-million.html.

About Titan Machinery

Titan Machinery Inc owns and operates a network of full service agricultural and construction equipment stores in the United States and Europe. It operates through three segments: Agriculture, Construction, and International. The company sells new and used equipment comprising agricultural and construction equipment manufactured under the CNH family of brands, as well as equipment from various other manufacturers.

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