Titan Machinery (NASDAQ:TITN) Issues FY 2023 Earnings Guidance

Titan Machinery (NASDAQ:TITN – Get Rating) issued an update on its FY 2023 earnings guidance on Thursday morning. The company provided EPS guidance of $2.85-$3.15 for the period, compared to the consensus EPS estimate of $2.84. The company issued revenue guidance of -.

NASDAQ TITN traded down $0.73 during mid-day trading on Thursday, reaching $22.96. The stock had a trading volume of 5,405 shares, compared to its average volume of 167,948. Titan Machinery has a 1 year low of $22.01 and a 1 year high of $38.58. The stock has a market cap of $518.21 million, a PE ratio of 7.31 and a beta of 1.64. The company has a fifty day moving average price of $24.97 and a 200 day moving average price of $28.60. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.79 and a quick ratio of 0.61.

Titan Machinery (NASDAQ:TITN – Get Rating) last announced its earnings results on Thursday, May 26th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.26. The business had revenue of $461.10 million during the quarter, compared to analyst estimates of $409.00 million. Titan Machinery had a net margin of 4.06% and a return on equity of 17.72%. The company’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.46 EPS. As a group, equities research analysts expect that Titan Machinery will post 3.15 earnings per share for the current year.

A number of equities research analysts have weighed in on TITN shares. TheStreet lowered shares of Titan Machinery from a b rating to a c+ rating in a research note on Thursday, May 26th. StockNews.com started coverage on shares of Titan Machinery in a research note on Thursday, March 31st. They set a strong-buy rating for the company. Stephens decreased their target price on shares of Titan Machinery from $44.00 to $41.00 and set an overweight rating for the company in a research note on Friday, May 27th. Finally, Robert W. Baird boosted their price objective on shares of Titan Machinery from $30.00 to $32.00 and gave the company a neutral rating in a research report on Thursday, May 26th. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Buy and a consensus price target of $37.67.

Institutional investors have recently modified their holdings of the stock. Prudential Financial Inc. boosted its holdings in shares of Titan Machinery by 89.1% during the 1st quarter. Prudential Financial Inc. now owns 258,894 shares of the company’s stock valued at $7,316,000 after purchasing an additional 122,000 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Titan Machinery by 65.8% during the 1st quarter. JPMorgan Chase & Co. now owns 282,713 shares of the company’s stock valued at $7,990,000 after buying an additional 112,210 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Titan Machinery by 18.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 204,655 shares of the company’s stock valued at $5,784,000 after buying an additional 31,365 shares in the last quarter. Aviva PLC purchased a new stake in shares of Titan Machinery during the 1st quarter valued at about $760,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Titan Machinery by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,683,465 shares of the company’s stock valued at $47,575,000 after buying an additional 25,662 shares in the last quarter. 78.45% of the stock is owned by institutional investors.

Titan Machinery Company Profile (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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