Titan Machinery (TITN) reported quarterly earnings results on Thursday, May-26-2016. The company reported $-0.21 earnings per share for the quarter, missing the analyst consensus estimate by $-0.05. Analysts had a consensus of $-0.16. The company posted revenue of $284.90 million in the period, compared to analysts expectations of $290.31 million. The company’s revenue was down -19.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.13 EPS.
Many Wall Street Analysts have commented on Titan Machinery. Company shares were Upgraded by Robert W. Baird on Mar 4, 2016 to ” Outperform”, Firm has raised the Price Target to $ 16 from a previous price target of $12 .
Titan Machinery opened for trading at $11.18 and hit $11.4 on the upside on Wednesday, eventually ending the session at $11.31, with a gain of 1.71% or 0.19 points. The heightened volatility saw the trading volume jump to 1,40,101 shares. Company has a market cap of $244 M.
Titan Machinery Inc. owns and operates a network of service agricultural and construction equipment stores in the United States and Europe. The Company has three segments: Agriculture Construction and International. Within its segments it engages in four principal business activities: new and used equipment sales; parts sales; repair and maintenance services and equipment rental and other activities. It sells new agricultural and construction equipment manufactured under the CNH Industrial family of brands as well as equipment from a variety of other manufacturers. The used equipment it sells is primarily from inventory purchased through trade-ins from its customers and selective purchases. It sells parts and provide in-store and on-site repair and maintenance services. It also rents equipment and provides ancillary services such as equipment transportation global positioning system (GPS) signal subscriptions and finance and insurance products.