$297.67 Million in Sales Expected for Titan Machinery Inc. (TITN) This Quarter

Brokerages expect that Titan Machinery Inc. (NASDAQ:TITN) will report $297.67 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Titan Machinery’s earnings, with estimates ranging from $287.30 million to $308.50 million. Titan Machinery reported sales of $317.62 million in the same quarter last year, which indicates a negative year-over-year growth rate of 6.3%. The firm is expected to report its next quarterly earnings report on Thursday, March 29th.

On average, analysts expect that Titan Machinery will report full-year sales of $297.67 million for the current fiscal year, with estimates ranging from $1.12 billion to $1.16 billion. For the next year, analysts anticipate that the business will post sales of $1.15 billion per share, with estimates ranging from $1.13 billion to $1.17 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Titan Machinery.

Titan Machinery (NASDAQ:TITN) last announced its quarterly earnings results on Thursday, November 30th. The company reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.12. The company had revenue of $330.34 million during the quarter, compared to analyst estimates of $306.74 million. Titan Machinery had a negative return on equity of 2.29% and a negative net margin of 1.44%. The firm’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.01) earnings per share.

Several brokerages have commented on TITN. Piper Jaffray Companies set a $19.00 price target on Titan Machinery and gave the stock a “hold” rating in a research note on Friday. Robert W. Baird restated an “outperform” rating and set a $25.00 price target (up from $18.00) on shares of Titan Machinery in a research note on Friday. Zacks Investment Research upgraded Titan Machinery from a “sell” rating to a “hold” rating in a research note on Wednesday, November 29th. Finally, ValuEngine upgraded Titan Machinery from a “sell” rating to a “hold” rating in a research note on Thursday, September 7th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $20.67.

In related news, Director Stan K. Erickson bought 8,302 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was bought at an average price of $12.50 per share, with a total value of $103,775.00. Following the completion of the transaction, the director now directly owns 13,495 shares of the company’s stock, valued at $168,687.50. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 16.08% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of TITN. Federated Investors Inc. PA boosted its position in shares of Titan Machinery by 58.5% in the second quarter. Federated Investors Inc. PA now owns 416,032 shares of the company’s stock worth $7,480,000 after buying an additional 153,596 shares during the period. Granahan Investment Management Inc. MA boosted its position in shares of Titan Machinery by 36.1% in the third quarter. Granahan Investment Management Inc. MA now owns 530,067 shares of the company’s stock worth $8,232,000 after buying an additional 140,498 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Titan Machinery by 14.0% in the third quarter. Dimensional Fund Advisors LP now owns 1,114,632 shares of the company’s stock worth $17,310,000 after buying an additional 137,008 shares during the period. Alliancebernstein L.P. purchased a new stake in shares of Titan Machinery in the second quarter worth about $1,983,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of Titan Machinery by 151.4% in the second quarter. Goldman Sachs Group Inc. now owns 179,701 shares of the company’s stock worth $3,231,000 after buying an additional 108,215 shares during the period. 76.37% of the stock is owned by institutional investors.

Shares of Titan Machinery (TITN) opened at $21.57 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.74 and a quick ratio of 0.37. Titan Machinery has a 12 month low of $11.68 and a 12 month high of $21.67.

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

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