Tower International Inc (NYSE:TOWR) – Research analysts at B. Riley decreased their Q1 2018 earnings per share estimates for shares of Tower International in a note issued to investors on Wednesday. B. Riley analyst C. Horn now forecasts that the auto parts company will post earnings per share of $0.81 for the quarter, down from their prior estimate of $0.85. B. Riley currently has a “Buy” rating on the stock. B. Riley also issued estimates for Tower International’s Q2 2018 earnings at $1.02 EPS, Q3 2018 earnings at $1.00 EPS, Q4 2018 earnings at $1.28 EPS, FY2018 earnings at $4.11 EPS, Q1 2019 earnings at $0.81 EPS, Q2 2019 earnings at $1.04 EPS, Q3 2019 earnings at $1.00 EPS, Q4 2019 earnings at $1.28 EPS and FY2020 earnings at $4.94 EPS.
TOWR has been the topic of a number of other reports. Zacks Investment Research raised Tower International from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research note on Thursday, December 21st. ValuEngine raised Tower International from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 18th. BidaskClub cut Tower International from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. FBR & Co reaffirmed a “buy” rating and issued a $40.00 price target on shares of Tower International in a research note on Tuesday, October 31st. Finally, JPMorgan Chase & Co. reduced their target price on Tower International from $34.00 to $31.00 and set a “neutral” rating on the stock in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Tower International has a consensus rating of “Hold” and an average target price of $34.00.
Tower International (NYSE:TOWR) last announced its quarterly earnings results on Tuesday, February 13th. The auto parts company reported $1.17 EPS for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.02. The business had revenue of $538.00 million for the quarter, compared to analysts’ expectations of $531.15 million. Tower International had a return on equity of 30.47% and a net margin of 2.40%. The business’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.02 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Friday, February 9th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $0.48 annualized dividend and a dividend yield of 1.69%. Tower International’s dividend payout ratio (DPR) is presently 21.05%.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Cornerstone Capital Management Holdings LLC. increased its stake in shares of Tower International by 124.1% during the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 31,600 shares of the auto parts company’s stock valued at $964,000 after buying an additional 17,500 shares during the period. Paloma Partners Management Co purchased a new position in shares of Tower International during the fourth quarter valued at approximately $253,000. Bogle Investment Management L P DE purchased a new position in shares of Tower International during the fourth quarter valued at approximately $1,066,000. EAM Investors LLC purchased a new position in shares of Tower International during the fourth quarter valued at approximately $2,087,000. Finally, UBS Asset Management Americas Inc. purchased a new position in shares of Tower International during the fourth quarter valued at approximately $217,000. 89.84% of the stock is currently owned by hedge funds and other institutional investors.
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Tower International Company Profile
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).
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