Titan Machinery (NASDAQ:TITN) Issues FY 2020 Earnings Guidance

Titan Machinery (NASDAQ:TITN) issued an update on its FY 2020 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.75-0.95 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.88. Titan Machinery also updated its FY20 guidance to $0.75-0.95 EPS.

TITN traded down $0.69 during trading on Friday, hitting $14.50. The stock had a trading volume of 7,544 shares, compared to its average volume of 140,073. The company has a market capitalization of $362.26 million, a PE ratio of 21.67 and a beta of 2.13. Titan Machinery has a twelve month low of $11.99 and a twelve month high of $21.88. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.31 and a current ratio of 1.39. The stock has a 50 day simple moving average of $19.30 and a two-hundred day simple moving average of $18.19.

Titan Machinery (NASDAQ:TITN) last announced its earnings results on Thursday, August 29th. The company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.02). The firm had revenue of $315.00 million during the quarter, compared to analyst estimates of $315.40 million. Titan Machinery had a net margin of 1.03% and a return on equity of 5.06%. Titan Machinery’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business earned $0.28 earnings per share. On average, equities research analysts anticipate that Titan Machinery will post 0.89 EPS for the current year.

TITN has been the subject of several recent analyst reports. Robert W. Baird upgraded shares of Titan Machinery from a neutral rating to an outperform rating and raised their target price for the company from $18.00 to $24.00 in a research note on Sunday, June 16th. BidaskClub downgraded shares of Titan Machinery from a hold rating to a sell rating in a research note on Friday, August 16th. ValuEngine cut shares of Titan Machinery from a buy rating to a hold rating in a report on Tuesday, August 6th. Finally, Zacks Investment Research cut shares of Titan Machinery from a strong-buy rating to a hold rating in a report on Saturday, August 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $21.50.

In related news, Director Tony Christianson sold 22,000 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $19.63, for a total transaction of $431,860.00. Following the transaction, the director now directly owns 42,076 shares in the company, valued at $825,951.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Bryan J. Knutson sold 3,711 shares of Titan Machinery stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $19.71, for a total transaction of $73,143.81. Following the transaction, the chief operating officer now directly owns 28,315 shares in the company, valued at $558,088.65. The disclosure for this sale can be found here. 15.37% of the stock is currently owned by insiders.

About Titan Machinery

Titan Machinery Inc owns and operates a network of full-service agricultural and construction equipment stores. 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.

Further Reading: How are Outstanding Shares Different from Authorized Shares?

Earnings History and Estimates for Titan Machinery (NASDAQ:TITN)

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