Titan Machinery (NASDAQ:TITN) Issues FY22 Earnings Guidance

Titan Machinery (NASDAQ:TITN) issued an update on its FY22 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.40-2.60 for the period, compared to the Thomson Reuters consensus estimate of $2.15. Titan Machinery also updated its FY 2022 guidance to $2.400-$2.600 EPS.

Shares of NASDAQ TITN traded down $3.35 during trading on Thursday, reaching $34.94. The stock had a trading volume of 524,369 shares, compared to its average volume of 197,660. Titan Machinery has a fifty-two week low of $17.92 and a fifty-two week high of $38.58. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.54 and a current ratio of 1.92. The stock has a 50-day moving average price of $28.85. The stock has a market capitalization of $789.50 million, a P/E ratio of 24.26 and a beta of 1.74.

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

A number of equities research analysts have recently weighed in on TITN shares. Zacks Investment Research raised Titan Machinery from a hold rating to a strong-buy rating and set a $33.00 price objective for the company in a research note on Wednesday, September 1st. Robert W. Baird cut Titan Machinery from an outperform rating to a neutral rating and lifted their price objective for the company from $37.00 to $41.00 in a research note on Wednesday. Finally, Craig Hallum boosted their target price on Titan Machinery from $35.00 to $40.00 and gave the stock a buy rating in a research note on Wednesday. One analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Titan Machinery has a consensus rating of Buy and a consensus target price of $38.50.

A number of hedge funds and other institutional investors have recently made changes to their positions in TITN. BNP Paribas Arbitrage SA lifted its holdings in Titan Machinery by 74.5% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 5,197 shares of the company’s stock worth $135,000 after buying an additional 2,219 shares during the last quarter. UBS Group AG lifted its holdings in Titan Machinery by 755.3% during the 3rd quarter. UBS Group AG now owns 5,397 shares of the company’s stock worth $139,000 after buying an additional 4,766 shares during the last quarter. Royal Bank of Canada lifted its holdings in Titan Machinery by 56.9% during the 3rd quarter. Royal Bank of Canada now owns 18,757 shares of the company’s stock worth $486,000 after buying an additional 6,805 shares during the last quarter. Morgan Stanley lifted its holdings in Titan Machinery by 3.3% during the 3rd quarter. Morgan Stanley now owns 354,678 shares of the company’s stock worth $9,191,000 after buying an additional 11,415 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in 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 worth $18,783,000 after buying an additional 37,896 shares during the last quarter. 78.76% of the stock is owned by institutional investors.

Titan Machinery Company Profile

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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