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Brokers Issue Forecasts for Titan Machinery Inc.’s FY2023 Earnings (NASDAQ:TITN)


Titan Machinery Inc. (NASDAQ:TITNGet Rating) – William Blair raised their FY2023 earnings per share (EPS) estimates for Titan Machinery in a research note issued on Monday, July 11th. William Blair analyst L. De. Maria now expects that the company will earn $3.20 per share for the year, up from their previous estimate of $3.15. The consensus estimate for Titan Machinery’s current full-year earnings is $3.14 per share.

Titan Machinery (NASDAQ:TITNGet Rating) last released its quarterly earnings results on Thursday, May 26th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.26. Titan Machinery had a return on equity of 17.72% and a net margin of 4.06%. The company had revenue of $461.10 million during the quarter, compared to analysts’ expectations of $409.00 million. During the same quarter in the prior year, the business posted $0.46 earnings per share. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year.

TITN has been the subject of several other research reports. Robert W. Baird increased their price target on Titan Machinery from $27.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday. TheStreet lowered Titan Machinery from a “b” rating to a “c+” rating in a report on Thursday, May 26th. Stephens cut their price objective on Titan Machinery from $44.00 to $41.00 and set an “overweight” rating for the company in a report on Friday, May 27th. Finally, StockNews.com initiated coverage on Titan Machinery in a report on Thursday, March 31st. They issued a “strong-buy” rating for the company. One analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Titan Machinery currently has a consensus rating of “Buy” and a consensus target price of $37.67.

NASDAQ:TITN opened at $23.52 on Wednesday. Titan Machinery has a 1 year low of $21.50 and a 1 year high of $38.58. The stock has a market cap of $530.80 million, a price-to-earnings ratio of 7.26 and a beta of 1.65. The business has a fifty day moving average of $24.34 and a 200-day moving average of $27.60. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.61 and a current ratio of 1.79.

Several institutional investors have recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Titan Machinery by 0.5% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 88,509 shares of the company’s stock valued at $2,982,000 after buying an additional 425 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Titan Machinery by 6.2% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 12,830 shares of the company’s stock valued at $288,000 after purchasing an additional 749 shares during the last quarter. Truist Financial Corp lifted its holdings in shares of Titan Machinery by 5.8% during the first quarter. Truist Financial Corp now owns 14,681 shares of the company’s stock valued at $415,000 after purchasing an additional 810 shares during the last quarter. Koshinski Asset Management Inc. lifted its holdings in shares of Titan Machinery by 699.3% during the fourth quarter. Koshinski Asset Management Inc. now owns 1,151 shares of the company’s stock valued at $39,000 after purchasing an additional 1,007 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in shares of Titan Machinery by 23.0% during the fourth quarter. Lazard Asset Management LLC now owns 5,746 shares of the company’s stock valued at $193,000 after purchasing an additional 1,074 shares during the last quarter. Institutional investors and hedge funds own 78.45% of the company’s stock.

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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