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

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

On average, 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 fiscal year, analysts anticipate that the business will post 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 research firms that follow Titan Machinery.

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

A number of brokerages recently issued reports on TITN. Zacks Investment Research lowered Titan Machinery from a “hold” rating to a “sell” rating in a research report on Wednesday, April 12th. TheStreet upgraded Titan Machinery from a “d+” rating to a “c-” rating in a research note on Monday, April 10th. Finally, Aegis started coverage on Titan Machinery in a research note on Tuesday, January 10th. They issued a “buy” rating and a $18.00 price target for the company.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. bought a new position in Titan Machinery during the fourth quarter worth $3,016,000. Federated Investors Inc. PA increased its position in Titan Machinery by 1,667.2% in the fourth quarter. Federated Investors Inc. PA now owns 216,284 shares of the company’s stock worth $3,151,000 after buying an additional 204,045 shares in the last quarter. Franklin Resources Inc. bought a new position in Titan Machinery during the fourth quarter worth $1,457,000. Two Sigma Investments LP increased its position in Titan Machinery by 197.4% in the fourth quarter. Two Sigma Investments LP now owns 132,728 shares of the company’s stock worth $1,934,000 after buying an additional 88,096 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in Titan Machinery during the fourth quarter worth $1,187,000. Hedge funds and other institutional investors own 85.40% of the company’s stock.

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Shares of Titan Machinery (NASDAQ:TITN) traded up 2.93% during trading on Monday, hitting $15.44. The stock had a trading volume of 172,646 shares. The company’s market capitalization is $329.27 million. The firm has a 50 day moving average of $14.36 and a 200 day moving average of $13.13. Titan Machinery has a 1-year low of $8.68 and a 1-year high of $15.95.

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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