Titan Machinery (NASDAQ:TITN) Issues FY 2022 Earnings Guidance

Titan Machinery (NASDAQ:TITN) updated its FY 2022 earnings guidance on Tuesday. The company provided EPS guidance of $2.400-$2.600 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.150. The company issued revenue guidance of -.Titan Machinery also updated its FY22 guidance to $2.40-2.60 EPS.

Several research firms have recently issued reports on TITN. Robert W. Baird lowered Titan Machinery from an outperform rating to a neutral rating and lifted their price target for the stock from $37.00 to $41.00 in a research report on Wednesday. Zacks Investment Research raised Titan Machinery from a hold rating to a strong-buy rating and set a $33.00 price target for the company in a research report on Wednesday, September 1st. Finally, Craig Hallum lifted their price target on Titan Machinery from $35.00 to $40.00 and gave the stock a buy rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of Buy and a consensus price target of $38.50.

Shares of Titan Machinery stock traded down $3.35 during trading hours on Thursday, reaching $34.94. 524,369 shares of the stock traded hands, compared to its average volume of 197,660. The business’s 50 day moving average is $28.85. The company has a market capitalization of $789.50 million, a price-to-earnings ratio of 24.26 and a beta of 1.74. Titan Machinery has a one year low of $17.92 and a one year high of $38.58. The company has a quick ratio of 0.54, a current ratio of 1.92 and a debt-to-equity ratio of 0.16.

Titan Machinery (NASDAQ:TITN) last released its quarterly earnings results on Tuesday, November 23rd. The company reported $0.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.28. The business had revenue of $454.00 million during the quarter, compared to the consensus estimate of $429.88 million. Titan Machinery had a return on equity of 11.04% and a net margin of 2.10%. The business’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.58 EPS. On average, sell-side analysts expect that Titan Machinery will post 2.13 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its stake in shares of Titan Machinery by 5.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 724,911 shares of the company’s stock valued at $18,783,000 after purchasing an additional 37,896 shares during the period. BNP Paribas Arbitrage SA grew its stake in shares of Titan Machinery by 74.5% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 5,197 shares of the company’s stock valued at $135,000 after purchasing an additional 2,219 shares during the period. UBS Group AG grew its stake in shares of Titan Machinery by 755.3% during the 3rd quarter. UBS Group AG now owns 5,397 shares of the company’s stock valued at $139,000 after acquiring an additional 4,766 shares during the period. Royal Bank of Canada grew its stake in shares of Titan Machinery by 56.9% during the 3rd quarter. Royal Bank of Canada now owns 18,757 shares of the company’s stock valued at $486,000 after acquiring an additional 6,805 shares during the period. Finally, Morgan Stanley grew its stake in shares of Titan Machinery by 3.3% during the 3rd quarter. Morgan Stanley now owns 354,678 shares of the company’s stock valued at $9,191,000 after acquiring an additional 11,415 shares during the period. Institutional investors and hedge funds own 78.76% of the company’s stock.

About Titan Machinery

Titan Machinery, Inc engages in the management of agricultural and construction equipment stores. It operates through the following segments: Agriculture, Construction and International. The Agriculture segment sells services and rents machinery and related parts and attachments, for uses from large-scale farming to home and garden use in North America.

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Earnings History and Estimates for Titan Machinery (NASDAQ:TITN)

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