Zacks: Brokerages Anticipate Titan Machinery Inc. (NASDAQ:TITN) Will Announce Quarterly Sales of $415.10 Million

Equities research analysts expect Titan Machinery Inc. (NASDAQ:TITN) to post $415.10 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Titan Machinery’s earnings. The highest sales estimate is $430.30 million and the lowest is $399.90 million. Titan Machinery reported sales of $360.87 million in the same quarter last year, which indicates a positive year-over-year growth rate of 15%. The company is expected to issue its next quarterly earnings results on Tuesday, November 23rd.

On average, analysts expect that Titan Machinery will report full-year sales of $1.62 billion for the current financial year, with estimates ranging from $1.56 billion to $1.68 billion. For the next year, analysts expect that the firm will report sales of $1.76 billion, with estimates ranging from $1.66 billion to $1.86 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Titan Machinery.

Titan Machinery (NASDAQ:TITN) last issued its quarterly earnings results on Wednesday, August 25th. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.13. Titan Machinery had a return on equity of 11.04% and a net margin of 2.10%. The firm had revenue of $377.60 million for the quarter, compared to analysts’ expectations of $372.73 million. During the same quarter in the prior year, the firm earned $0.29 EPS. The business’s revenue for the quarter was up 24.4% compared to the same quarter last year.

Several equities analysts have recently commented on TITN shares. Robert W. Baird increased their price objective on Titan Machinery from $31.00 to $37.00 and gave the company an “outperform” rating in a research report on Thursday, May 27th. Zacks Investment Research upgraded Titan Machinery from a “hold” rating to a “strong-buy” rating and set a $33.00 price objective for the company in a report on Wednesday, September 1st. Finally, Stephens raised Titan Machinery from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $26.00 to $40.00 in a research report on Friday, May 28th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $33.25.

Several large investors have recently made changes to their positions in TITN. Principal Financial Group Inc. purchased a new stake in shares of Titan Machinery in the first quarter valued at approximately $15,458,000. Bank of New York Mellon Corp increased its position in shares of Titan Machinery by 606.8% during the first quarter. Bank of New York Mellon Corp now owns 598,766 shares of the company’s stock worth $15,268,000 after purchasing an additional 514,051 shares in the last quarter. Monarch Partners Asset Management LLC increased its position in shares of Titan Machinery by 453.3% during the first quarter. Monarch Partners Asset Management LLC now owns 254,055 shares of the company’s stock worth $6,478,000 after purchasing an additional 208,140 shares in the last quarter. Lisanti Capital Growth LLC acquired a new position in shares of Titan Machinery during the first quarter worth $4,325,000. Finally, Kennedy Capital Management Inc. increased its position in shares of Titan Machinery by 35.3% during the first quarter. Kennedy Capital Management Inc. now owns 551,794 shares of the company’s stock worth $14,071,000 after purchasing an additional 143,926 shares in the last quarter. Institutional investors and hedge funds own 78.89% of the company’s stock.

Shares of NASDAQ TITN opened at $26.19 on Wednesday. The firm has a market capitalization of $591.79 million, a P/E ratio of 18.19 and a beta of 1.77. The company has a quick ratio of 0.56, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The stock’s 50-day simple moving average is $28.40 and its two-hundred day simple moving average is $27.87. Titan Machinery has a twelve month low of $12.50 and a twelve month high of $35.24.

About Titan Machinery

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.

Further Reading: What is a good dividend yield?

Get a free copy of the Zacks research report on Titan Machinery (TITN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Titan Machinery Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Titan Machinery and related companies with MarketBeat.com's FREE daily email newsletter.