Equities research analysts expect Tower International Inc (NYSE:TOWR) to announce $0.21 earnings per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Tower International’s earnings. The highest EPS estimate is $0.36 and the lowest is $0.16. Tower International posted earnings of $0.82 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 74.4%. The company is expected to announce its next quarterly earnings results on Thursday, May 2nd.
According to Zacks, analysts expect that Tower International will report full year earnings of $2.50 per share for the current fiscal year, with EPS estimates ranging from $2.40 to $2.55. For the next financial year, analysts expect that the company will post earnings of $3.43 per share, with EPS estimates ranging from $3.30 to $3.63. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Tower International.
Get Tower International alerts:Tower International (NYSE:TOWR) last issued its quarterly earnings results on Tuesday, February 12th. The auto parts company reported $0.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.14 by ($0.40). Tower International had a return on equity of 25.31% and a net margin of 2.42%. The business had revenue of $377.27 million for the quarter, compared to analysts’ expectations of $524.30 million. During the same quarter in the previous year, the firm posted $0.96 EPS. Tower International’s revenue was up 6.3% on a year-over-year basis.
A number of equities research analysts recently commented on TOWR shares. Zacks Investment Research lowered Tower International from a “buy” rating to a “hold” rating in a research report on Wednesday, November 28th. ValuEngine lowered Tower International from a “hold” rating to a “sell” rating in a research report on Friday, November 30th. Seaport Global Securities started coverage on Tower International in a research report on Wednesday, February 13th. They issued a “neutral” rating on the stock. Finally, Roth Capital set a $32.00 target price on Tower International and gave the company a “buy” rating in a research report on Thursday, February 14th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $29.00.
A number of hedge funds and other institutional investors have recently modified their holdings of TOWR. Russell Investments Group Ltd. boosted its position in Tower International by 100.5% in the third quarter. Russell Investments Group Ltd. now owns 395,085 shares of the auto parts company’s stock valued at $11,951,000 after buying an additional 198,069 shares during the last quarter. Matarin Capital Management LLC acquired a new position in Tower International in the third quarter valued at approximately $5,785,000. Seizert Capital Partners LLC acquired a new position in Tower International in the third quarter valued at approximately $3,620,000. Piermont Capital Management Inc. acquired a new position in Tower International in the third quarter valued at approximately $1,559,000. Finally, Municipal Employees Retirement System of Michigan acquired a new position in Tower International in the fourth quarter valued at approximately $687,000. Hedge funds and other institutional investors own 91.56% of the company’s stock.
Shares of TOWR stock traded down $0.47 during trading hours on Monday, reaching $23.50. 124,668 shares of the company’s stock were exchanged, compared to its average volume of 159,596. Tower International has a 1 year low of $22.67 and a 1 year high of $36.65. The firm has a market capitalization of $484.26 million, a price-to-earnings ratio of 6.71, a PEG ratio of 1.30 and a beta of 2.19. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.88 and a current ratio of 1.08.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 28th. Investors of record on Thursday, February 7th were given a $0.13 dividend. The ex-dividend date was Wednesday, February 6th. This represents a $0.52 dividend on an annualized basis and a yield of 2.21%. Tower International’s dividend payout ratio is currently 14.86%.
About Tower International
Tower International, Inc manufactures and sells engineered automotive structural metal components and assemblies primarily for original equipment manufacturers. It operates in two segments, North America and Europe. The company provides body structures and assemblies, including structural metal components, which comprise body pillars, roof rails, and side sills; and Class A surfaces and assemblies that consist of body sides, hoods, doors, fenders, and pickup truck boxes.
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