Titan Machinery Inc. (TITN) Scheduled to Post Quarterly Earnings on Wednesday
Titan Machinery Inc. (NASDAQ:TITN) will announce its earnings results before the market opens on Wednesday, November 30th. Analysts expect the company to announce earnings of $0.05 per share for the quarter.
Titan Machinery (NASDAQ:TITN) last announced its quarterly earnings data on Thursday, August 25th. The company reported ($0.12) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $0.06. The firm had revenue of $278.30 million for the quarter, compared to the consensus estimate of $291.62 million. Titan Machinery had a negative net margin of 3.04% and a negative return on equity of 9.03%. The business’s revenue for the quarter was down 16.7% on a year-over-year basis. On average, analysts expect Titan Machinery to post $-0.43 EPS for the current fiscal year and $-0.03 EPS for the next fiscal year.
Shares of Titan Machinery Inc. (NASDAQ:TITN) opened at 12.40 on Monday. The company’s market capitalization is $262.93 million. Titan Machinery Inc. has a 12 month low of $7.87 and a 12 month high of $13.13. The stock’s 50 day moving average is $10.18 and its 200 day moving average is $10.82.
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A number of hedge funds have recently added to or reduced their stakes in TITN. Vanguard Group Inc. increased its stake in Titan Machinery by 3.0% in the second quarter. Vanguard Group Inc. now owns 652,683 shares of the company’s stock valued at $7,278,000 after buying an additional 18,858 shares in the last quarter. BlackRock Fund Advisors increased its stake in Titan Machinery by 9.3% in the third quarter. BlackRock Fund Advisors now owns 501,455 shares of the company’s stock valued at $5,215,000 after buying an additional 42,483 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in Titan Machinery by 0.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 462,737 shares of the company’s stock valued at $4,812,000 after buying an additional 1,966 shares during the period. Panagora Asset Management Inc. increased its stake in Titan Machinery by 6.6% in the second quarter. Panagora Asset Management Inc. now owns 362,477 shares of the company’s stock valued at $4,042,000 after buying an additional 22,380 shares during the period. Finally, Northern Trust Corp increased its stake in Titan Machinery by 1.6% in the third quarter. Northern Trust Corp now owns 210,588 shares of the company’s stock valued at $2,190,000 after buying an additional 3,245 shares during the period. 84.12% of the stock is currently owned by institutional investors.
Separately, Zacks Investment Research downgraded shares of Titan Machinery from a “hold” rating to a “sell” rating in a research report on Wednesday, August 31st.
About Titan Machinery
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.
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