Titan Machinery Inc. (NASDAQ:TITN) – William Blair raised their FY2019 earnings estimates for shares of Titan Machinery in a research note issued on Tuesday. William Blair analyst L. De. Maria now expects that the company will post earnings of $0.55 per share for the year, up from their previous forecast of $0.35. William Blair currently has a “Market Perform” rating on the stock.
Titan Machinery (NASDAQ:TITN) last posted its quarterly earnings results on Thursday, November 30th. The company reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.12. The company had revenue of $330.34 million for the quarter, compared to the consensus estimate of $306.74 million. Titan Machinery had a negative net margin of 1.44% and a negative return on equity of 2.29%. The firm’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.01) EPS.
Titan Machinery (TITN) traded up $1.82 during mid-day trading on Thursday, reaching $23.56. 494,600 shares of the company traded hands, compared to its average volume of 358,467. The stock has a market cap of $520.55, a P/E ratio of -30.60 and a beta of 1.76. Titan Machinery has a 52 week low of $11.68 and a 52 week high of $23.58. The company has a quick ratio of 0.33, a current ratio of 1.70 and a debt-to-equity ratio of 0.31.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio purchased a new position in Titan Machinery during the 3rd quarter valued at about $155,000. Numeric Investors LLC bought a new stake in shares of Titan Machinery in the 2nd quarter valued at about $191,000. Voya Investment Management LLC boosted its holdings in shares of Titan Machinery by 14.2% in the 2nd quarter. Voya Investment Management LLC now owns 11,520 shares of the company’s stock valued at $207,000 after buying an additional 1,429 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its holdings in shares of Titan Machinery by 29.0% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 13,068 shares of the company’s stock valued at $235,000 after buying an additional 2,939 shares in the last quarter. Finally, Prudential Financial Inc. bought a new stake in shares of Titan Machinery in the 3rd quarter valued at about $211,000. 76.20% of the stock is currently owned by institutional investors and hedge funds.
In other Titan Machinery news, CEO David Joseph Meyer sold 61,796 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $21.85, for a total transaction of $1,350,242.60. Following the transaction, the chief executive officer now owns 715,864 shares of the company’s stock, valued at approximately $15,641,628.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 16.08% of the company’s stock.
TRADEMARK VIOLATION WARNING: This news story was originally posted by Chaffey Breeze and is owned by of Chaffey Breeze. If you are reading this news story on another domain, it was illegally copied and republished in violation of U.S. & international trademark and copyright law. The legal version of this news story can be accessed at https://www.chaffeybreeze.com/2018/01/05/titan-machinery-inc-to-post-fy2019-earnings-of-0-55-per-share-william-blair-forecasts-titn.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 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.