$264.35 Million in Sales Expected for TPI Composites Inc (TPIC) This Quarter
Brokerages forecast that TPI Composites Inc (NASDAQ:TPIC) will post sales of $264.35 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for TPI Composites’ earnings, with estimates ranging from $256.20 million to $269.04 million. TPI Composites posted sales of $243.35 million during the same quarter last year, which suggests a positive year over year growth rate of 8.6%. The business is scheduled to issue its next earnings report on Wednesday, November 14th.
According to Zacks, analysts expect that TPI Composites will report full year sales of $1.03 billion for the current year, with estimates ranging from $1.02 billion to $1.05 billion. For the next year, analysts expect that the company will post sales of $1.35 billion, with estimates ranging from $1.29 billion to $1.41 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow TPI Composites.
TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings results on Tuesday, August 7th. The industrial products company reported ($0.12) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.09). The business had revenue of $230.61 million for the quarter, compared to the consensus estimate of $240.29 million. TPI Composites had a return on equity of 17.01% and a net margin of 3.17%.
TPI Composites stock traded up $0.48 during mid-day trading on Monday, reaching $25.05. 551,740 shares of the company’s stock were exchanged, compared to its average volume of 289,133. The firm has a market capitalization of $982.48 million, a P/E ratio of 20.04 and a beta of -0.89. TPI Composites has a one year low of $16.35 and a one year high of $32.22. The company has a current ratio of 1.65, a quick ratio of 1.63 and a debt-to-equity ratio of 0.39.
In other TPI Composites news, major shareholder Element Partners Ii Lp sold 29,097 shares of the firm’s stock in a transaction on Wednesday, October 10th. The stock was sold at an average price of $25.30, for a total value of $736,154.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Lawrence Derosa sold 98,947 shares of the firm’s stock in a transaction on Thursday, October 11th. The stock was sold at an average price of $25.32, for a total value of $2,505,338.04. Following the completion of the sale, the director now directly owns 6,620 shares of the company’s stock, valued at $167,618.40. The disclosure for this sale can be found here. Insiders sold 2,762,836 shares of company stock valued at $76,882,291 over the last three months. Company insiders own 58.20% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co. NY purchased a new position in shares of TPI Composites in the second quarter valued at $162,000. Sei Investments Co. grew its position in shares of TPI Composites by 40.3% in the first quarter. Sei Investments Co. now owns 7,992 shares of the industrial products company’s stock valued at $179,000 after purchasing an additional 2,294 shares in the last quarter. Citadel Advisors LLC purchased a new position in shares of TPI Composites in the second quarter valued at $208,000. MetLife Investment Advisors LLC purchased a new position in shares of TPI Composites in the second quarter valued at $214,000. Finally, Koch Industries Inc. purchased a new position in shares of TPI Composites in the first quarter valued at $215,000. 51.24% of the stock is owned by institutional investors and hedge funds.
About TPI Composites
TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers. The company also provides composite solutions for the transportation industry. It operates in the United States, Asia, Mexico, Europe, the Middle East, and Africa.
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