Tower International Inc. (TOWR) Issues FY14 Earnings Guidance
Tower International Inc. (NASDAQ:TOWR) issued an update on its FY14 earnings guidance on Thursday morning. The company provided EPS guidance of $2.70-2.90 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.76, StockRatingsNetwork reports. The company issued revenue guidance of ~$2.15 billion, compared to the consensus revenue estimate of $2.17 billion.
Shares of Tower International Inc. (NASDAQ:TOWR) traded up 6.06% on Thursday, hitting $23.98. 475,260 shares of the company’s stock traded hands. Tower International Inc. has a 52 week low of $9.64 and a 52 week high of $25.70. The stock’s 50-day moving average is $22.6 and its 200-day moving average is $21.3. The company’s market cap is $490.8 million.
Tower International (NASDAQ:TOWR) last announced its earnings results on Thursday, February 13th. The company reported $0.45 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.44 by $0.01. The company had revenue of $517.00 million for the quarter, compared to the consensus estimate of $516.67 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. The company’s quarterly revenue was up 1.7% on a year-over-year basis. On average, analysts predict that Tower International Inc. will post $2.26 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Thomson Reuters/Verus upgraded shares of Tower International from a sell rating to a hold rating in a research note on Monday, January 27th. On a related note, analysts at FBR Capital Markets initiated coverage on shares of Tower International in a research note on Friday, January 10th. They set an outperform rating and a $28.00 price target on the stock. Finally, analysts at Zacks downgraded shares of Tower International from an outperform rating to a neutral rating in a research note on Monday, January 6th. They now have a $23.90 price target on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Tower International currently has an average rating of Hold and an average target price of $24.73.
Tower International, Inc is an integrated global manufacturer of engineered structural metal components and assemblies primarily serving automotive original equipment manufacturers (NASDAQ:TOWR).
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