Titan Machinery (TITN) Announces Earnings Results, Beats Estimates By $0.12 EPS
Titan Machinery (NASDAQ:TITN) released its quarterly earnings results on Thursday. The company reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.12, Bloomberg Earnings reports. Titan Machinery had a negative net margin of 1.44% and a negative return on equity of 2.29%. The company had revenue of $330.34 million during the quarter, compared to the consensus estimate of $306.74 million. During the same period in the prior year, the firm earned ($0.01) earnings per share. Titan Machinery’s revenue was down .6% on a year-over-year basis.
Titan Machinery (TITN) opened at $21.57 on Friday. Titan Machinery has a one year low of $11.68 and a one year high of $21.67. The company has a quick ratio of 0.37, a current ratio of 1.74 and a debt-to-equity ratio of 0.38.
A number of equities analysts recently issued reports on TITN shares. Robert W. Baird set a $18.00 price target on shares of Titan Machinery and gave the stock a “buy” rating in a research note on Thursday, August 24th. Zacks Investment Research raised shares of Titan Machinery from a “sell” rating to a “hold” rating in a research note on Wednesday. Piper Jaffray Companies reissued a “hold” rating on shares of Titan Machinery in a research note on Thursday, September 28th. ValuEngine raised shares of Titan Machinery from a “sell” rating to a “hold” rating in a research note on Thursday, September 7th. Finally, BidaskClub downgraded shares of Titan Machinery from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Titan Machinery has a consensus rating of “Hold” and an average price target of $20.67.
In other Titan Machinery news, Director Stan K. Erickson bought 8,302 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was acquired at an average price of $12.50 per share, with a total value of $103,775.00. Following the completion of the purchase, the director now owns 13,495 shares of the company’s stock, valued at $168,687.50. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 16.08% of the stock is currently owned by company insiders.
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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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