Brokerages Expect Tower International Inc (TOWR) Will Announce Earnings of $0.99 Per Share

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Brokerages predict that Tower International Inc (NYSE:TOWR) will announce earnings per share (EPS) of $0.99 for the current quarter, according to Zacks. Four analysts have issued estimates for Tower International’s earnings, with the lowest EPS estimate coming in at $0.94 and the highest estimate coming in at $1.04. Tower International posted earnings per share of $0.85 in the same quarter last year, which would suggest a positive year over year growth rate of 16.5%. The business is scheduled to report its next quarterly earnings report before the market opens on Monday, October 29th.

According to Zacks, analysts expect that Tower International will report full-year earnings of $4.07 per share for the current financial year, with EPS estimates ranging from $4.00 to $4.14. For the next year, analysts expect that the business will report earnings of $4.25 per share, with EPS estimates ranging from $4.08 to $4.65. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Tower International.

Tower International (NYSE:TOWR) last posted its quarterly earnings data on Tuesday, July 31st. The auto parts company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.01. The firm had revenue of $556.01 million during the quarter, compared to analysts’ expectations of $554.90 million. Tower International had a net margin of 2.39% and a return on equity of 28.42%. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.97 EPS.

Several equities research analysts have recently commented on TOWR shares. ValuEngine upgraded shares of Tower International from a “hold” rating to a “buy” rating in a research report on Monday, August 20th. Citigroup lowered their price target on shares of Tower International from $34.00 to $28.00 and set a “neutral” rating for the company in a research report on Friday, October 12th. Finally, Zacks Investment Research upgraded shares of Tower International from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $34.00.

TOWR traded up $0.01 during midday trading on Monday, hitting $25.47. The company had a trading volume of 118,504 shares, compared to its average volume of 109,901. The company has a current ratio of 1.16, a quick ratio of 0.98 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $524.58 million, a PE ratio of 6.77, a PEG ratio of 0.78 and a beta of 2.31. Tower International has a twelve month low of $24.25 and a twelve month high of $36.65.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Thursday, November 8th will be given a dividend of $0.13 per share. This is a boost from Tower International’s previous quarterly dividend of $0.12. The ex-dividend date is Wednesday, November 7th. This represents a $0.52 annualized dividend and a dividend yield of 2.04%. Tower International’s payout ratio is currently 12.77%.

Several large investors have recently modified their holdings of TOWR. Russell Investments Group Ltd. grew its position in shares of Tower International by 340.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 197,016 shares of the auto parts company’s stock worth $6,268,000 after buying an additional 152,251 shares during the period. James Investment Research Inc. acquired a new stake in shares of Tower International during the 2nd quarter worth approximately $2,445,000. Millennium Management LLC grew its position in shares of Tower International by 29.6% during the 1st quarter. Millennium Management LLC now owns 296,525 shares of the auto parts company’s stock worth $8,229,000 after buying an additional 67,751 shares during the period. Dimensional Fund Advisors LP grew its holdings in Tower International by 5.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,282,633 shares of the auto parts company’s stock valued at $35,593,000 after purchasing an additional 61,233 shares during the period. Finally, Paradigm Capital Management Inc. NY acquired a new position in Tower International during the second quarter valued at approximately $1,622,000. Institutional investors own 89.95% of the company’s stock.

Tower International Company Profile

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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Earnings History and Estimates for Tower International (NYSE:TOWR)

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