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 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.
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