Zacks: Brokerages Anticipate Titan Machinery Inc. (TITN) Will Post Earnings of -$0.13 Per Share

Wall Street analysts expect Titan Machinery Inc. (NASDAQ:TITN) to announce earnings per share (EPS) of ($0.13) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Titan Machinery’s earnings. The lowest EPS estimate is ($0.17) and the highest is ($0.10). Titan Machinery posted earnings of ($0.21) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 38.1%. The firm is expected to issue its next quarterly earnings results on Thursday, May 25th.

According to Zacks, analysts expect that Titan Machinery will report full-year earnings of $0.03 per share for the current financial year, with EPS estimates ranging from $0.00 to $0.10. For the next financial year, analysts anticipate that the firm will report earnings of $0.41 per share, with EPS estimates ranging from $0.30 to $0.60. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Titan Machinery.

Titan Machinery (NASDAQ:TITN) last released its earnings results on Thursday, March 30th. The company reported ($0.31) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by $0.10. The firm earned $317.60 million during the quarter, compared to analyst estimates of $311.80 million. Titan Machinery had a negative net margin of 3.33% and a negative return on equity of 10.64%. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period last year, the business posted ($1.31) earnings per share.

Several equities research analysts have weighed in on TITN shares. Aegis started coverage on Titan Machinery in a research note on Tuesday, January 10th. They set a “buy” rating and a $18.00 target price for the company. Zacks Investment Research upgraded Titan Machinery from a “sell” rating to a “hold” rating in a research note on Wednesday, February 1st. Finally, TheStreet upgraded Titan Machinery from a “d+” rating to a “c-” rating in a research note on Monday, April 10th.

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Several hedge funds and other institutional investors have recently made changes to their positions in the company. A.R.T. Advisors LLC bought a new position in shares of Titan Machinery during the fourth quarter valued at about $186,000. Renaissance Technologies LLC bought a new position in shares of Titan Machinery during the fourth quarter valued at about $1,187,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Titan Machinery during the fourth quarter valued at about $174,000. Trexquant Investment LP bought a new position in shares of Titan Machinery during the fourth quarter valued at about $403,000. Finally, Federated Investors Inc. PA increased its position in shares of Titan Machinery by 1,667.2% in the fourth quarter. Federated Investors Inc. PA now owns 216,284 shares of the company’s stock valued at $3,151,000 after buying an additional 204,045 shares during the period. Institutional investors own 85.40% of the company’s stock.

Titan Machinery (NASDAQ:TITN) traded up 1.42% on Monday, hitting $14.95. The stock had a trading volume of 73,823 shares. The company has a 50 day moving average of $14.28 and a 200 day moving average of $13.00. Titan Machinery has a 12-month low of $8.68 and a 12-month high of $15.95. The company’s market capitalization is $318.82 million.

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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