Brokerages Anticipate Titan Machinery Inc. (TITN) Will Announce Earnings of -$0.13 Per Share
Equities research analysts expect that Titan Machinery Inc. (NASDAQ:TITN) will post earnings per share of ($0.13) for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Titan Machinery’s earnings, with the highest EPS estimate coming in at ($0.08) and the lowest estimate coming in at ($0.17). Titan Machinery posted earnings of ($0.31) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 58.1%. The business is expected to issue its next quarterly earnings report on Thursday, March 29th.
According to Zacks, analysts expect that Titan Machinery will report full-year earnings of ($0.19) per share for the current financial year, with EPS estimates ranging from ($0.25) to ($0.12). For the next financial year, analysts expect that the company will report earnings of $0.25 per share, with EPS estimates ranging from $0.09 to $0.55. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Titan Machinery.
Several research analysts recently weighed in on TITN shares. Zacks Investment Research raised Titan Machinery from a “sell” rating to a “hold” rating in a research report on Wednesday, November 29th. Robert W. Baird reissued an “outperform” rating and set a $25.00 price target (up from $18.00) on shares of Titan Machinery in a research report on Friday, December 1st. Piper Jaffray Companies set a $19.00 price target on Titan Machinery and gave the company a “hold” rating in a research report on Friday, December 1st. BidaskClub raised Titan Machinery from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 5th. Finally, William Blair raised Titan Machinery from an “underperform” rating to a “market perform” rating in a research report on Tuesday, January 2nd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Titan Machinery has an average rating of “Hold” and a consensus price target of $23.00.
A number of hedge funds have recently modified their holdings of TITN. Systematic Financial Management LP acquired a new position in Titan Machinery in the 4th quarter worth about $14,904,000. Renaissance Technologies LLC increased its position in Titan Machinery by 839.2% in the 4th quarter. Renaissance Technologies LLC now owns 379,447 shares of the company’s stock worth $8,033,000 after purchasing an additional 339,047 shares during the last quarter. Millennium Management LLC increased its position in Titan Machinery by 2,466.1% in the 4th quarter. Millennium Management LLC now owns 269,570 shares of the company’s stock worth $5,707,000 after purchasing an additional 259,065 shares during the last quarter. Two Sigma Investments LP increased its position in Titan Machinery by 258.3% in the 4th quarter. Two Sigma Investments LP now owns 216,489 shares of the company’s stock worth $4,583,000 after purchasing an additional 156,062 shares during the last quarter. Finally, Deutsche Bank AG increased its position in Titan Machinery by 278.3% in the 4th quarter. Deutsche Bank AG now owns 205,403 shares of the company’s stock worth $4,347,000 after purchasing an additional 151,108 shares during the last quarter. 76.33% of the stock is currently owned by institutional investors.
Titan Machinery (NASDAQ:TITN) traded up $0.57 during trading hours on Friday, reaching $19.97. The company had a trading volume of 206,143 shares, compared to its average volume of 161,071. The firm has a market capitalization of $441.24, a price-to-earnings ratio of -25.60, a price-to-earnings-growth ratio of 5.37 and a beta of 1.60. Titan Machinery has a 52-week low of $11.68 and a 52-week high of $24.19. The company has a quick ratio of 0.33, a current ratio of 1.70 and a debt-to-equity ratio of 0.31.
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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