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

Titan Machinery (NASDAQ:TITNGet Rating) updated its FY 2023 earnings guidance on Thursday. 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 -.

Several analysts recently issued reports on TITN shares. TheStreet downgraded Titan Machinery from a b rating to a c+ rating in a research note on Thursday, May 26th. StockNews.com started coverage on Titan Machinery in a research note on Thursday, March 31st. They issued a strong-buy rating for the company. Robert W. Baird boosted their price target on Titan Machinery from $30.00 to $32.00 and gave the company a neutral rating in a research note on Thursday, May 26th. Finally, Stephens dropped 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. One investment 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. According to data from MarketBeat, the stock currently has an average rating of Buy and a consensus price target of $37.67.

Shares of Titan Machinery stock traded down $0.73 on Thursday, hitting $22.96. 5,405 shares of the company’s stock traded hands, compared to its average volume of 167,948. Titan Machinery has a one year low of $22.01 and a one year high of $38.58. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.79 and a quick ratio of 0.61. The company has a fifty day moving average of $24.97 and a two-hundred day moving average of $28.60. The company has a market capitalization of $518.21 million, a price-to-earnings ratio of 7.31 and a beta of 1.64.

Titan Machinery (NASDAQ:TITNGet Rating) last announced its earnings results on Thursday, May 26th. The company reported $0.79 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $409.00 million. During the same quarter in the prior year, the company earned $0.46 EPS. The firm’s revenue for the quarter was up 23.7% compared to the same quarter last year. Equities research analysts anticipate that Titan Machinery will post 3.15 earnings per share for the current year.

Institutional investors have recently modified their holdings of the company. MetLife Investment Management LLC increased its position in shares of Titan Machinery by 16.0% during the first quarter. MetLife Investment Management LLC now owns 9,539 shares of the company’s stock valued at $270,000 after acquiring an additional 1,313 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Titan Machinery during the first quarter valued at approximately $54,000. Bank of America Corp DE increased its position in shares of Titan Machinery by 19.6% during the first quarter. Bank of America Corp DE now owns 25,835 shares of the company’s stock valued at $729,000 after acquiring an additional 4,231 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Titan Machinery during the first quarter valued at approximately $239,000. Finally, State Street Corp increased its position in shares of Titan Machinery by 2.5% during the first quarter. State Street Corp now owns 354,703 shares of the company’s stock valued at $10,024,000 after acquiring an additional 8,771 shares during the last quarter. 78.45% of the stock is owned by hedge funds and other institutional investors.

About Titan Machinery (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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