Equities analysts expect that Tower International, Inc. (NYSE:TOWR) will post $449.93 million in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Tower International’s earnings. The highest sales estimate is $451.30 million and the lowest is $449.03 million. Tower International posted sales of $457.04 million in the same quarter last year, which would indicate a negative year over year growth rate of 1.6%. The company is expected to issue its next quarterly earnings results on Wednesday, November 1st.
On average, analysts expect that Tower International will report full-year sales of $449.93 million for the current financial year, with estimates ranging from $1.96 billion to $1.97 billion. For the next year, analysts expect that the business will post sales of $2.04 billion per share, with estimates ranging from $1.98 billion to $2.07 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Tower International.
Tower International (NYSE:TOWR) last posted its quarterly earnings data on Wednesday, July 26th. The auto parts company reported $0.97 earnings per share 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 during the quarter, compared to analysts’ expectations of $494.87 million. During the same period in the prior year, the company posted $0.81 earnings per share. Tower International’s revenue for the quarter was down 3.0% compared to the same quarter last year.
A number of equities analysts have commented on the stock. BidaskClub upgraded shares of Tower International from a “sell” rating to a “hold” rating in a report on Thursday. Zacks Investment Research downgraded shares of Tower International from a “strong-buy” rating to a “hold” rating in a report on Friday, July 21st. ValuEngine upgraded shares of Tower International from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 6th. Finally, FBR & Co reiterated an “outperform” rating and issued a $40.00 target price on shares of Tower International in a report on Friday, June 30th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $32.00.
Shares of Tower International (NYSE:TOWR) opened at 23.60 on Friday. The stock’s 50 day moving average is $22.63 and its 200 day moving average is $25.11. The firm has a market capitalization of $484.30 million, a PE ratio of 6.87 and a beta of 2.59. Tower International has a 52-week low of $20.85 and a 52-week high of $30.50.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 10th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.86%. Tower International’s payout ratio is 12.87%.
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Several large investors have recently modified their holdings of TOWR. Geode Capital Management LLC raised its stake in shares of Tower International by 16.5% in the first quarter. Geode Capital Management LLC now owns 188,995 shares of the auto parts company’s stock worth $5,121,000 after buying an additional 26,727 shares during the last quarter. Bogle Investment Management L P DE acquired a new stake in shares of Tower International during the first quarter worth $2,662,000. California Public Employees Retirement System raised its stake in shares of Tower International by 3.2% in the first quarter. California Public Employees Retirement System now owns 121,600 shares of the auto parts company’s stock worth $3,295,000 after buying an additional 3,800 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of Tower International by 2.6% in the first quarter. Teachers Advisors LLC now owns 37,704 shares of the auto parts company’s stock worth $1,022,000 after buying an additional 949 shares during the last quarter. Finally, American International Group Inc. raised its stake in shares of 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 worth $342,000 after buying an additional 833 shares during the last quarter. Institutional investors and hedge funds own 89.40% of the company’s stock.
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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