Analysts predict that Tower International Inc (NYSE:TOWR) will announce $0.37 earnings per share for the current quarter, Zacks reports. Four analysts have made estimates for Tower International’s earnings. The highest EPS estimate is $0.40 and the lowest is $0.33. Tower International reported earnings per share of $1.09 during the same quarter last year, which indicates a negative year-over-year growth rate of 66.1%. The company is scheduled to report its next earnings report on Tuesday, July 30th.
According to Zacks, analysts expect that Tower International will report full-year earnings of $2.20 per share for the current financial year, with EPS estimates ranging from $2.15 to $2.25. For the next fiscal year, analysts forecast that the firm will report earnings of $3.28 per share, with EPS estimates ranging from $3.05 to $3.45. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Tower International.
Tower International (NYSE:TOWR) last issued its earnings results on Thursday, May 2nd. The auto parts company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.07. The company had revenue of $378.74 million for the quarter, compared to the consensus estimate of $373.25 million. Tower International had a return on equity of 21.15% and a net margin of 1.44%. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.82 EPS.
TOWR has been the subject of several recent analyst reports. ValuEngine lowered Tower International from a “hold” rating to a “sell” rating in a research note on Saturday, March 9th. Roth Capital set a $32.00 price objective on Tower International and gave the stock a “buy” rating in a research report on Thursday, February 14th. Zacks Investment Research lowered Tower International from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. Seaport Global Securities initiated coverage on Tower International in a research report on Wednesday, February 13th. They issued a “neutral” rating for the company. Finally, TheStreet lowered Tower International from a “b-” rating to a “c+” rating in a research report on Monday, March 25th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. Tower International presently has an average rating of “Hold” and a consensus target price of $29.00.
NYSE:TOWR traded up $0.10 during mid-day trading on Friday, reaching $19.77. The stock had a trading volume of 4,129 shares, compared to its average volume of 117,069. Tower International has a fifty-two week low of $19.08 and a fifty-two week high of $36.65. The company has a market capitalization of $407.80 million, a P/E ratio of 5.63 and a beta of 2.07. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.19 and a current ratio of 1.39.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Thursday, May 9th will be given a $0.13 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $0.52 dividend on an annualized basis and a yield of 2.63%. Tower International’s payout ratio is 14.86%.
A number of institutional investors and hedge funds have recently modified their holdings of TOWR. Municipal Employees Retirement System of Michigan acquired a new position in shares of Tower International during the 4th quarter worth approximately $687,000. Wedge Capital Management L L P NC boosted its stake in Tower International by 55.5% in the 1st quarter. Wedge Capital Management L L P NC now owns 75,321 shares of the auto parts company’s stock valued at $1,584,000 after purchasing an additional 26,890 shares during the period. Geode Capital Management LLC boosted its stake in Tower International by 11.9% in the 1st quarter. Geode Capital Management LLC now owns 246,616 shares of the auto parts company’s stock valued at $5,186,000 after purchasing an additional 26,229 shares during the period. Marshall Wace LLP bought a new stake in Tower International in the 3rd quarter valued at $699,000. Finally, Alambic Investment Management L.P. boosted its stake in Tower International by 73.0% in the 4th quarter. Alambic Investment Management L.P. now owns 47,000 shares of the auto parts company’s stock valued at $1,119,000 after purchasing an additional 19,832 shares during the period. Hedge funds and other institutional investors own 91.99% of the company’s stock.
Tower International Company Profile
Tower International, Inc manufactures and sells engineered automotive structural metal components and assemblies primarily for original equipment manufacturers. It operates in two segments, North America and Brazil. The company provides body structures and assemblies, including structural metal components, which comprise body pillars, roof rails, and side sills; and Class A surfaces and assemblies that consist of body sides, hoods, doors, fenders, and pickup truck boxes.
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