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Titan Machinery posts mixed 2Q results, trims view

Published on NewsOK Modified: September 5, 2013 at 7:44 am •  Published: September 5, 2013

Titan now foresees full-year earnings of $1.20 to $1.50 per share, on revenue in a range of $2.25 billion to $2.45 billion. The West Fargo, N.D. company's prior guidance was for earnings of $1.70 to $2 per share, with revenue between $2.35 billion and $2.55 billion.

Analysts expect fiscal 2014 earnings of $1.79 per share on revenue of $2.37 billion.

Titan's stock dropped 87 cents, or 5.1 percent, to $16.25 before the opening bell. Shares closed Wednesday at $17.12, down 31 percent since the start of the year. The stock has traded in a range between $16.80 and $32 in the past 52 weeks, peaking in mid-February.