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.
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.
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.
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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.
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