Tower International, Inc. (TOWR) Expected to Post Earnings of $0.77 Per Share
Equities research analysts predict that Tower International, Inc. (NYSE:TOWR) will report earnings per share of $0.77 for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Tower International’s earnings, with the highest EPS estimate coming in at $0.82 and the lowest estimate coming in at $0.75. Tower International posted earnings of $0.90 per share during the same quarter last year, which would indicate a negative year over year growth rate of 14.4%. The business is scheduled to announce its next earnings report on Wednesday, November 1st.
On average, analysts expect that Tower International will report full-year earnings of $3.65 per share for the current financial year, with EPS estimates ranging from $3.60 to $3.75. For the next year, analysts forecast that the firm will post earnings of $3.97 per share, with EPS estimates ranging from $3.80 to $4.15. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Tower International.
Tower International (NYSE:TOWR) last issued its quarterly earnings data on Wednesday, July 26th. The auto parts company reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.05. Tower International had a net margin of 3.76% and a return on equity of 33.20%. The company had revenue of $489.93 million for the quarter, compared to the consensus estimate of $494.87 million. During the same period last year, the firm posted $0.81 EPS. Tower International’s revenue for the quarter was down 3.0% on a year-over-year basis.
TOWR has been the topic of a number of research reports. Zacks Investment Research raised shares of Tower International from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Wednesday, April 26th. ValuEngine cut shares of Tower International from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. BidaskClub raised shares of Tower International from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, FBR & Co reissued an “outperform” rating and set a $40.00 target price on shares of Tower International in a report on Friday, June 30th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $31.25.
Several hedge funds have recently modified their holdings of the company. SG Americas Securities LLC boosted its stake in shares of Tower International by 32.7% in the first quarter. SG Americas Securities LLC now owns 5,944 shares of the auto parts company’s stock worth $161,000 after buying an additional 1,464 shares during the period. Bowling Portfolio Management LLC purchased a new position in Tower International during the second quarter valued at approximately $225,000. Gamco Investors INC. ET AL raised its position in Tower International by 9.1% in the first quarter. Gamco Investors INC. ET AL now owns 10,800 shares of the auto parts company’s stock valued at $293,000 after buying an additional 900 shares in the last quarter. Cigna Investments Inc. New purchased a new position in Tower International during the second quarter valued at approximately $317,000. Finally, American International Group Inc. raised its position in Tower International by 7.1% in the first quarter. American International Group Inc. now owns 12,627 shares of the auto parts company’s stock valued at $342,000 after buying an additional 833 shares in the last quarter. 91.40% of the stock is currently owned by institutional investors.
Shares of Tower International (NYSE TOWR) traded up 1.14% on Friday, reaching $22.10. 81,866 shares of the company’s stock traded hands. The company has a 50 day moving average of $23.04 and a 200-day moving average of $24.80. Tower International has a 52 week low of $20.85 and a 52 week high of $30.50. The stock has a market capitalization of $453.51 million, a PE ratio of 6.84 and a beta of 2.59.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Thursday, August 10th will be issued a dividend of $0.11 per share. The ex-dividend date is Tuesday, August 8th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.99%. Tower International’s dividend payout ratio (DPR) is 12.87%.
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Tower International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tower International Inc. and related companies with MarketBeat.com's FREE daily email newsletter.