$244.94 Million in Sales Expected for TPI Composites, Inc. (TPIC) This Quarter
Brokerages expect TPI Composites, Inc. (NASDAQ:TPIC) to announce $244.94 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for TPI Composites’ earnings, with the highest sales estimate coming in at $248.21 million and the lowest estimate coming in at $243.30 million. TPI Composites posted sales of $185.57 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 32%. The firm is expected to announce its next earnings report on Thursday, March 15th.
According to Zacks, analysts expect that TPI Composites will report full year sales of $244.94 million for the current financial year, with estimates ranging from $926.40 million to $1.02 billion. For the next year, analysts expect that the company will post sales of $1.10 billion per share, with estimates ranging from $1.01 billion to $1.32 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover TPI Composites.
TPI Composites (NASDAQ:TPIC) last announced its earnings results on Wednesday, November 8th. The industrial products company reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.36. TPI Composites had a net margin of 4.09% and a return on equity of 30.80%. The firm had revenue of $243.35 million for the quarter, compared to analysts’ expectations of $252.42 million. During the same quarter in the previous year, the business posted $0.08 EPS. The company’s quarterly revenue was up 22.3% on a year-over-year basis.
A number of analysts have recently commented on the stock. ValuEngine upgraded shares of TPI Composites from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. Roth Capital boosted their target price on shares of TPI Composites from $23.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. JMP Securities assumed coverage on shares of TPI Composites in a report on Thursday. They set an “outperform” rating and a $33.00 target price on the stock. Cowen and Company set a $26.00 target price on shares of TPI Composites and gave the company a “buy” rating in a report on Friday, August 4th. Finally, Zacks Investment Research upgraded shares of TPI Composites from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $27.00.
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Shares of TPI Composites (TPIC) traded down $0.97 during mid-day trading on Friday, hitting $19.06. 670,611 shares of the stock were exchanged, compared to its average volume of 316,209. TPI Composites has a 1 year low of $13.55 and a 1 year high of $26.00. The company has a market cap of $648.23, a PE ratio of 17.17 and a beta of -0.01. The company has a current ratio of 1.32, a quick ratio of 0.93 and a debt-to-equity ratio of 0.59.
Institutional investors have recently made changes to their positions in the stock. Nationwide Fund Advisors boosted its stake in TPI Composites by 85.8% in the 2nd quarter. Nationwide Fund Advisors now owns 6,038 shares of the industrial products company’s stock worth $112,000 after purchasing an additional 2,788 shares in the last quarter. First Quadrant L P CA bought a new position in TPI Composites in the 3rd quarter worth about $126,000. Sei Investments Co. boosted its stake in TPI Composites by 916.3% in the 2nd quarter. Sei Investments Co. now owns 7,734 shares of the industrial products company’s stock worth $143,000 after purchasing an additional 6,973 shares in the last quarter. Wells Fargo & Company MN boosted its stake in TPI Composites by 260.5% in the 1st quarter. Wells Fargo & Company MN now owns 7,750 shares of the industrial products company’s stock worth $147,000 after purchasing an additional 5,600 shares in the last quarter. Finally, Advisor Group Inc. boosted its stake in TPI Composites by 242.5% in the 2nd quarter. Advisor Group Inc. now owns 8,333 shares of the industrial products company’s stock worth $154,000 after purchasing an additional 5,900 shares in the last quarter. Institutional investors own 35.03% of the company’s stock.
About TPI Composites
TPI Composites, Inc manufactures composite wind blades. The Company operates through four segments. The United States segment includes the manufacturing of wind blades at its Newton, Iowa plant; the manufacturing of precision molding and assembly systems used for the manufacture of wind blades in its Warren, Rhode Island facility, and the manufacturing of composite solutions for the transportation industry, which it also conducts in its Rhode Island and Massachusetts facilities.
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