Titan Machinery Inc. (TITN) to Release Earnings on Wednesday
Titan Machinery Inc. (NASDAQ:TITN) is scheduled to be issuing its quarterly earnings data before the market opens on Wednesday, August 23rd. Analysts expect the company to announce earnings of ($0.02) per share for the quarter.
Titan Machinery (NASDAQ:TITN) last posted its quarterly earnings data on Thursday, May 25th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by $0.06. The company had revenue of $264.10 million for the quarter, compared to analysts’ expectations of $257 million. Titan Machinery had a negative return on equity of 4.11% and a negative net margin of 1.37%. The company’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.21) EPS. On average, analysts expect Titan Machinery to post $0.03 EPS for the current fiscal year and $0.42 EPS for the next fiscal year.
Shares of Titan Machinery Inc. (TITN) opened at 16.94 on Wednesday. The stock’s market cap is $362.04 million. Titan Machinery Inc. has a 52-week low of $8.68 and a 52-week high of $19.22. The company’s 50-day moving average price is $17.59 and its 200-day moving average price is $15.87.
In other news, Chairman David Joseph Meyer sold 44,950 shares of the business’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $17.25, for a total transaction of $775,387.50. Following the sale, the chairman now directly owns 724,660 shares of the company’s stock, valued at $12,500,385. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.08% of the stock is owned by insiders.
TITN has been the topic of a number of recent analyst reports. ValuEngine raised Titan Machinery from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research lowered Titan Machinery from a “buy” rating to a “hold” rating in a research report on Wednesday, July 26th. Piper Jaffray Companies set a $18.00 target price on Titan Machinery and gave the stock a “hold” rating in a research report on Friday, August 4th. Finally, BidaskClub lowered Titan Machinery from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Titan Machinery presently has an average rating of “Hold” and a consensus target price of $18.67.
About Titan Machinery
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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