Tower International Inc (TOWR) Updates FY14 Earnings Guidance
Tower International Inc (NASDAQ:TOWR) updated its FY14 earnings guidance on Thursday. The company provided earnings per share guidance of $2.95-3.05 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.01, AR Network reports. The company issued revenue guidance of $2.200-2.225 billion, compared to the consensus revenue estimate of $2.19 billion.
A number of analysts have recently weighed in on TOWR shares. Analysts at JPMorgan Chase & Co. reiterated a hold rating on shares of Tower International in a research note on Tuesday, July 22nd. They now have a $36.00 price target on the stock, up previously from $29.00. On a related note, analysts at Zacks downgraded shares of Tower International from an outperform rating to a neutral rating in a research note on Tuesday, July 1st. They now have a $38.40 price target on the stock. Finally, analysts at Wed initiated coverage on shares of Tower International in a research note on Wednesday, June 11th. They set a $33.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $36.08.
Tower International Inc (NASDAQ:TOWR) opened at 35.02 on Thursday. Tower International Inc has a 52-week low of $18.86 and a 52-week high of $37.50. The stock’s 50-day moving average is $35. and its 200-day moving average is $28.92. The company’s market cap is $721.4 million.
Tower International (NASDAQ:TOWR) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.93 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.81 by $0.12. The company had revenue of $576.57 million for the quarter, compared to the consensus estimate of $571.83 million. During the same quarter in the prior year, the company posted $1.03 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. Analysts expect that Tower International Inc will post $3.03 EPS for the current fiscal year.
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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