Titan Machinery Inc. (TITN) Releases Earnings Results, Misses Estimates By $0.06 EPS

Titan Machinery Inc. (NASDAQ:TITN) released its quarterly earnings data on Thursday, May 25th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by $0.06, Bloomberg Earnings reports. The business had revenue of $264.10 million for the quarter, compared to the consensus estimate of $257 million. Titan Machinery had a negative return on equity of 4.11% and a negative net margin of 1.37%. Titan Machinery’s revenue was down 7.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.21) earnings per share.

Shares of Titan Machinery (TITN) traded down 0.27% during trading on Friday, reaching $18.45. 143,669 shares of the company were exchanged. Titan Machinery has a one year low of $8.68 and a one year high of $19.22. The firm’s 50 day moving average price is $16.50 and its 200 day moving average price is $14.94. The company’s market capitalization is $394.31 million.

Earnings History for Titan Machinery (NASDAQ:TITN)

In related news, Chairman David Joseph Meyer sold 44,950 shares of Titan Machinery stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $17.25, for a total value of $775,387.50. Following the completion of the sale, the chairman now owns 724,660 shares of the company’s stock, valued at approximately $12,500,385. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 16.08% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of TITN. American International Group Inc. increased its position in shares of Titan Machinery by 7.2% in the first quarter. American International Group Inc. now owns 10,919 shares of the company’s stock valued at $167,000 after buying an additional 729 shares in the last quarter. Oxford Asset Management purchased a new stake in Titan Machinery during the first quarter worth $168,000. Dynamic Technology Lab Private Ltd purchased a new stake in Titan Machinery during the fourth quarter worth $174,000. A.R.T. Advisors LLC purchased a new stake in Titan Machinery during the fourth quarter worth $186,000. Finally, Hancock Holding Co. bought a new position in shares of Titan Machinery during the first quarter worth approximately $199,000. Institutional investors and hedge funds own 80.92% of the company’s stock.

A number of research firms have recently commented on TITN. ValuEngine raised shares of Titan Machinery from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research cut shares of Titan Machinery from a “hold” rating to a “sell” rating in a research report on Wednesday, April 12th. Finally, TheStreet upgraded shares of Titan Machinery from a “d+” rating to a “c-” rating in a research report on Monday, April 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $16.50.

COPYRIGHT VIOLATION NOTICE: “Titan Machinery Inc. (TITN) Releases Earnings Results, Misses Estimates By $0.06 EPS” was originally reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are viewing this article on another publication, it was copied illegally and republished in violation of U.S. and international copyright and trademark legislation. The legal version of this article can be viewed at https://www.chaffeybreeze.com/2017/06/16/titan-machinery-inc-titn-issues-quarterly-earnings-results-updated-updated.html.

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.

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

Latest News

Leave a Reply