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



2 comments:

  1. What is the CUSIP?

    Where did you get this quote?

    ReplyDelete
    Replies
    1. Quote in post is from Morningstar:

      http://quicktake.morningstar.com/StockNet/Bondsquote.aspx?cid=0C00000W4Z&bid=f2a5102eb52d5f946eb1b694dbf18735&bname=Titan+Machy+Cv+3.75%25+|+Maturity%3a2019&ticker=TITN&country=USA&clientid=dotcom

      It can also be found in Yahoo Finance

      http://screener.finance.yahoo.com/z2?ce=5014846148581706016349&q=b%3d1%26cpl%3d3.000000%26cpu%3d4.000000%26mtl%3d36%26mtu%3d84%26pr%3d3%26rl%3d-1%26ru%3d-1%26sf%3dm%26so%3da%26stt%3d-%26tc%3d1%26yl%3d-1.000000%26ytl%3d-1.000000%26ytu%3d-1.000000%26yu%3d-1.000000

      Delete