Tower International (TOWR) Releases Earnings Results, Beats Expectations By $0.02 EPS

Tower International (NYSE:TOWR) issued its quarterly earnings data on Tuesday. The auto parts company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.02, Bloomberg Earnings reports. Tower International had a net margin of 3.58% and a return on equity of 30.51%. The business had revenue of $538.00 million for the quarter, compared to analysts’ expectations of $531.15 million. During the same period in the previous year, the business earned $1.02 earnings per share. The company’s revenue was up 16.5% on a year-over-year basis. Tower International updated its FY18 guidance to $4.10 EPS.

Shares of Tower International (NYSE:TOWR) traded down $1.20 during trading on Tuesday, reaching $26.10. 125,317 shares of the company’s stock traded hands, compared to its average volume of 80,487. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 1.32. Tower International has a 12-month low of $21.00 and a 12-month high of $33.65. The company has a market capitalization of $560.43, a PE ratio of 8.34, a PEG ratio of 0.69 and a beta of 2.48.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Friday, February 9th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.84%. The ex-dividend date is Thursday, February 8th. Tower International’s dividend payout ratio (DPR) is presently 15.64%.

A number of institutional investors have recently modified their holdings of TOWR. State Street Corp raised its position in Tower International by 4.7% in the second quarter. State Street Corp now owns 399,280 shares of the auto parts company’s stock worth $8,962,000 after acquiring an additional 17,814 shares in the last quarter. Eqis Capital Management Inc. bought a new stake in Tower International in the third quarter worth about $259,000. Aperio Group LLC bought a new stake in Tower International in the third quarter worth about $254,000. Gamco Investors INC. ET AL raised its position in Tower International by 34.0% in the third quarter. Gamco Investors INC. ET AL now owns 13,400 shares of the auto parts company’s stock worth $364,000 after acquiring an additional 3,400 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in Tower International by 5.1% in the third quarter. Russell Investments Group Ltd. now owns 67,994 shares of the auto parts company’s stock worth $1,849,000 after acquiring an additional 3,316 shares in the last quarter. Hedge funds and other institutional investors own 89.84% of the company’s stock.

A number of brokerages recently weighed in on TOWR. ValuEngine cut shares of Tower International from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research cut shares of Tower International from a “buy” rating to a “hold” rating in a research note on Saturday, December 30th. B. Riley restated a “buy” rating on shares of Tower International in a research note on Wednesday, November 1st. BidaskClub cut shares of Tower International from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Finally, FBR & Co reiterated a “buy” rating and issued a $40.00 price target on shares of Tower International in a research report on Tuesday, October 31st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $35.00.

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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).

Earnings History for Tower International (NYSE:TOWR)

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