Analysts Anticipate TPI Composites, Inc. (TPIC) to Post $0.24 Earnings Per Share
Equities analysts expect that TPI Composites, Inc. (NASDAQ:TPIC) will report earnings of $0.24 per share for the current quarter, according to Zacks. Three analysts have made estimates for TPI Composites’ earnings, with the lowest EPS estimate coming in at $0.15 and the highest estimate coming in at $0.38. TPI Composites posted earnings of $0.08 per share during the same quarter last year, which would suggest a positive year over year growth rate of 200%. The business is scheduled to report its next earnings results on Wednesday, November 8th.
On average, analysts expect that TPI Composites will report full year earnings of $0.95 per share for the current year, with EPS estimates ranging from $0.82 to $1.17. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.09 per share, with EPS estimates ranging from $0.72 to $1.81. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow TPI Composites.
TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings results on Tuesday, August 8th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.27. The firm had revenue of $248.19 million during the quarter, compared to the consensus estimate of $225.36 million. TPI Composites had a return on equity of 18.24% and a net margin of 2.18%. The business’s revenue for the quarter was up 27.8% on a year-over-year basis.
A number of equities analysts have recently weighed in on the company. Roth Capital upped their price objective on TPI Composites from $23.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. J P Morgan Chase & Co lowered TPI Composites from an “overweight” rating to a “neutral” rating and set a $27.00 price objective for the company. in a research note on Friday, August 11th. Zacks Investment Research raised TPI Composites from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective for the company in a research note on Wednesday. Finally, Cowen and Company set a $26.00 price objective on TPI Composites and gave the stock a “buy” rating in a research note on Friday, August 4th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $25.00.
Shares of TPI Composites (NASDAQ TPIC) opened at 22.82 on Friday. The stock’s 50 day moving average price is $21.82 and its 200-day moving average price is $21.82. The company has a market cap of $748.47 million, a P/E ratio of 42.81 and a beta of -0.28. TPI Composites has a 12 month low of $13.27 and a 12 month high of $23.68.
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In other news, Director Jack A. Henry purchased 3,400 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was bought at an average cost of $21.70 per share, with a total value of $73,780.00. Following the completion of the purchase, the director now owns 13,800 shares in the company, valued at $299,460. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 73.70% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in TPI Composites by 5,354.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,000 shares of the industrial products company’s stock valued at $1,109,000 after buying an additional 58,900 shares during the last quarter. Renaissance Technologies LLC bought a new position in TPI Composites during the first quarter valued at approximately $1,042,000. Marshall Wace North America L.P. bought a new position in TPI Composites during the second quarter valued at approximately $3,081,000. Oxford Asset Management bought a new position in TPI Composites during the first quarter valued at approximately $210,000. Finally, Handelsinvest Investeringsforvaltning bought a new position in TPI Composites during the second quarter valued at approximately $2,264,000. 32.87% of the stock is owned by institutional investors.
TPI Composites Company Profile
TPI Composites, Inc manufactures composite wind blades. The Company operates through four segments. The United States segment includes the manufacturing of wind blades at its Newton, Iowa plant; the manufacturing of precision molding and assembly systems used for the manufacture of wind blades in its Warren, Rhode Island facility, and the manufacturing of composite solutions for the transportation industry, which it also conducts in its Rhode Island and Massachusetts facilities.
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