Zacks: Brokerages Anticipate Titan Machinery Inc. (TITN) Will Announce Quarterly Sales of $314.97 Million

Equities analysts forecast that Titan Machinery Inc. (NASDAQ:TITN) will announce $314.97 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Titan Machinery’s earnings, with the lowest sales estimate coming in at $310.80 million and the highest estimate coming in at $318.70 million. Titan Machinery posted sales of $317.62 million during the same quarter last year, which would indicate a negative year over year growth rate of 0.8%. The business is expected to report its next earnings report on Thursday, March 29th.

On average, analysts expect that Titan Machinery will report full year sales of $314.97 million for the current financial year, with estimates ranging from $1.13 billion to $1.18 billion. For the next year, analysts forecast that the business will post sales of $1.22 billion per share, with estimates ranging from $1.18 billion to $1.25 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Titan Machinery.

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

Several research analysts have weighed in on the company. William Blair upgraded Titan Machinery from an “underperform” rating to a “market perform” rating in a research note on Tuesday, January 2nd. Zacks Investment Research upgraded Titan Machinery from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Wednesday, December 6th. BidaskClub downgraded Titan Machinery from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. 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, December 1st. Finally, Robert W. Baird restated an “outperform” rating and issued a $25.00 price target (up from $18.00) on shares of Titan Machinery in a research note on Friday, December 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $23.00.

In other news, CEO David Joseph Meyer sold 61,796 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $21.85, for a total transaction of $1,350,242.60. Following the sale, the chief executive officer now directly owns 715,864 shares of the company’s stock, valued at approximately $15,641,628.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.08% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of TITN. Public Employees Retirement System of Ohio purchased a new stake in shares of Titan Machinery during the 3rd quarter worth approximately $155,000. Numeric Investors LLC purchased a new stake in shares of Titan Machinery during the 2nd quarter worth approximately $191,000. Voya Investment Management LLC raised its holdings in shares of Titan Machinery by 14.2% during the 2nd quarter. Voya Investment Management LLC now owns 11,520 shares of the company’s stock worth $207,000 after acquiring an additional 1,429 shares in the last quarter. Prudential Financial Inc. purchased a new stake in Titan Machinery during the 3rd quarter valued at $211,000. Finally, Virtu Financial LLC purchased a new stake in Titan Machinery during the 4th quarter valued at $211,000. 72.81% of the stock is currently owned by institutional investors and hedge funds.

Titan Machinery (NASDAQ:TITN) traded up $0.02 during mid-day trading on Friday, reaching $18.79. The company’s stock had a trading volume of 125,325 shares, compared to its average volume of 191,081. Titan Machinery has a 1-year low of $11.68 and a 1-year high of $24.19. The company has a quick ratio of 0.33, a current ratio of 1.70 and a debt-to-equity ratio of 0.31. The company has a market cap of $415.60, a P/E ratio of -24.09, a price-to-earnings-growth ratio of 5.06 and a beta of 1.61.

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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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