Tower International, Inc. (TOWR) Expected to Post Earnings of $1.13 Per Share
Wall Street analysts expect Tower International, Inc. (NYSE:TOWR) to report earnings of $1.13 per share for the current quarter, Zacks reports. Four analysts have issued estimates for Tower International’s earnings. The highest EPS estimate is $1.13 and the lowest is $1.12. Tower International posted earnings of $1.02 per share in the same quarter last year, which would suggest a positive year over year growth rate of 10.8%. The firm is expected to announce its next quarterly earnings report on Tuesday, February 13th.
On average, analysts expect that Tower International will report full-year earnings of $3.70 per share for the current year. For the next fiscal year, analysts forecast that the company will report earnings of $4.02 per share, with EPS estimates ranging from $3.95 to $4.05. Zacks’ EPS calculations are an average based on a survey of analysts that that provide coverage for Tower International.
Tower International (NYSE:TOWR) last posted its quarterly earnings data on Monday, October 30th. The auto parts company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.08. The business had revenue of $462.00 million during the quarter, compared to the consensus estimate of $451.73 million. Tower International had a return on equity of 30.51% and a net margin of 3.58%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.90 earnings per share.
A number of equities analysts have issued reports on TOWR shares. BidaskClub downgraded Tower International from a “hold” rating to a “sell” rating in a report on Wednesday, August 30th. Zacks Investment Research downgraded Tower International from a “buy” rating to a “hold” rating in a report on Wednesday, September 27th. TheStreet upgraded Tower International from a “c+” rating to a “b” rating in a report on Thursday, September 28th. Finally, ValuEngine upgraded Tower International from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 18th. Three equities research analysts have rated the stock with a hold rating, two have given 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 a consensus target price of $33.67.
In other news, SVP William Cook sold 6,601 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $31.87, for a total value of $210,373.87. Following the sale, the senior vice president now directly owns 11,917 shares of the company’s stock, valued at $379,794.79. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 6.20% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Fund Management S.A. purchased a new stake in shares of Tower International in the second quarter worth $404,000. Prudential PLC grew its stake in shares of Tower International by 8.2% in the second quarter. Prudential PLC now owns 688,000 shares of the auto parts company’s stock worth $15,446,000 after acquiring an additional 52,300 shares during the last quarter. Nationwide Fund Advisors grew its stake in shares of Tower International by 211.8% in the second quarter. Nationwide Fund Advisors now owns 118,372 shares of the auto parts company’s stock worth $2,657,000 after acquiring an additional 80,408 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Tower International by 3.1% in the second quarter. Ameriprise Financial Inc. now owns 645,426 shares of the auto parts company’s stock worth $14,490,000 after acquiring an additional 19,634 shares during the last quarter. Finally, First Quadrant L P CA purchased a new stake in shares of Tower International in the second quarter worth $951,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.
Tower International (NYSE:TOWR) traded up $0.10 on Thursday, reaching $31.70. The company’s stock had a trading volume of 23,712 shares, compared to its average volume of 116,585. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.01 and a current ratio of 1.18. The company has a market capitalization of $650.74, a P/E ratio of 8.81, a price-to-earnings-growth ratio of 0.86 and a beta of 2.69. Tower International has a twelve month low of $21.00 and a twelve month high of $33.65.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 10th will be paid a $0.12 dividend. This is a boost from Tower International’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Thursday, November 9th. Tower International’s dividend payout ratio is currently 14.63%.
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About Tower International
Tower International, Inc is a global manufacturer of engineered automotive structural metal components and assemblies primarily serving original equipment manufacturers (OEMs). The Company’s product portfolio includes body-structure stampings, frame and other chassis structures, and welded assemblies for small and large cars, crossovers, pickups and sport utility vehicles (SUVs).
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