Saturday, November 28, 2015

Titan Machinery Convertible Notes Close at NEW ALL TIME LOW

Titan Machinery (NASDAQ: TITN: $12.58) reports FY2016 3rd quarter financials on Thursday premarket for the period ending October 31,2015.
(Market capitalization $265 million, PE 160, Debt to EBITDA Ratio 25, Sales -25%, Net Income ttm -$31 million))

A year ago the company reported FY2015 3rd quarter net income of $2.4 million.

In their most recent 10Q filing for FY2016 for the period ending July 31,2015 the company reported net income of $6,000.

BOND $63.61 yield 18.56%

This week the $150 million 3.75% (May 2019 maturity) convertible indenture with Wells Fargo closed a New All Time Low of $63.61 yielding 18.56%.

Bond Risks: Danger of Defaulting on Credit Agreement's 6th Amendment.

Cliff Notes to Equities Research Bear Case


  1. What is the CUSIP?

    Where did you get this quote?

    1. Quote in post is from Morningstar:|+Maturity%3a2019&ticker=TITN&country=USA&clientid=dotcom

      It can also be found in Yahoo Finance