Titan Machinery (NASDAQ:TITN – Get Rating) released its earnings results on Thursday. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.26, MarketWatch Earnings reports. The firm had revenue of $461.10 million for the quarter, compared to analysts’ expectations of $409.00 million. Titan Machinery had a net margin of 3.86% and a return on equity of 16.68%. The company’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.46 earnings per share. Titan Machinery updated its FY 2023 guidance to $2.85-$3.15 EPS and its FY23 guidance to $2.85-3.15 EPS.
NASDAQ TITN traded up $0.63 on Friday, hitting $27.44. The stock had a trading volume of 233,833 shares, compared to its average volume of 167,844. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.72 and a current ratio of 1.84. The company has a market capitalization of $619.32 million, a price-to-earnings ratio of 9.37 and a beta of 1.65. Titan Machinery has a 52-week low of $22.01 and a 52-week high of $38.58. The firm has a 50-day moving average of $25.87 and a 200-day moving average of $29.60.
Institutional investors have recently bought and sold shares of the business. Point72 Hong Kong Ltd acquired a new stake in Titan Machinery in the first quarter valued at $54,000. BNP Paribas Arbitrage SA lifted its position in shares of Titan Machinery by 74.5% in the third quarter. BNP Paribas Arbitrage SA now owns 5,197 shares of the company’s stock valued at $135,000 after acquiring an additional 2,219 shares in the last quarter. UBS Group AG lifted its position in shares of Titan Machinery by 755.3% in the third quarter. UBS Group AG now owns 5,397 shares of the company’s stock valued at $139,000 after acquiring an additional 4,766 shares in the last quarter. Metropolitan Life Insurance Co NY lifted its position in shares of Titan Machinery by 14.9% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 5,174 shares of the company’s stock valued at $174,000 after acquiring an additional 671 shares in the last quarter. Finally, Citigroup Inc. lifted its position in shares of Titan Machinery by 88.6% in the fourth quarter. Citigroup Inc. now owns 6,505 shares of the company’s stock valued at $219,000 after acquiring an additional 3,056 shares in the last quarter. 78.45% of the stock is currently owned by institutional investors.
About Titan Machinery (Get Rating)
Titan Machinery Inc owns and operates a network of full-service agricultural and construction equipment stores in the United States and Europe. It operates through three segments: Agriculture, Construction, and International. The company sells new and used equipment, including agricultural and construction equipment manufactured under the CNH Industrial family of brands, as well as equipment from various other manufacturers.
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