$312.11 Million in Sales Expected for TPI Composites Inc (TPIC) This Quarter

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Wall Street brokerages expect TPI Composites Inc (NASDAQ:TPIC) to announce sales of $312.11 million for the current quarter, Zacks reports. Three analysts have provided estimates for TPI Composites’ earnings, with the lowest sales estimate coming in at $303.40 million and the highest estimate coming in at $329.32 million. TPI Composites reported sales of $247.14 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 26.3%. The firm is scheduled to issue its next earnings results on Thursday, March 14th.

On average, analysts expect that TPI Composites will report full-year sales of $1.03 billion for the current financial year, with estimates ranging from $1.02 billion to $1.04 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.53 billion, with estimates ranging from $1.51 billion to $1.54 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow TPI Composites.

TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings results on Wednesday, November 7th. The industrial products company reported $0.26 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.34. TPI Composites had a net margin of 2.03% and a return on equity of 5.74%. The company had revenue of $255.00 million for the quarter, compared to analysts’ expectations of $258.35 million. During the same quarter in the previous year, the business posted $0.62 earnings per share. TPI Composites’s quarterly revenue was up .6% on a year-over-year basis.

Several brokerages recently weighed in on TPIC. TheStreet cut shares of TPI Composites from a “b-” rating to a “c” rating in a research report on Wednesday, January 23rd. JMP Securities set a $39.00 price objective on shares of TPI Composites and gave the company a “buy” rating in a research report on Thursday, November 8th. BidaskClub upgraded shares of TPI Composites from a “hold” rating to a “buy” rating in a research report on Friday, November 30th. Zacks Investment Research cut shares of TPI Composites from a “hold” rating to a “strong sell” rating in a research report on Saturday, January 5th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $42.00 price objective (up previously from $31.00) on shares of TPI Composites in a research report on Monday, October 29th. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $37.36.

TPIC traded up $0.03 during trading hours on Friday, hitting $31.05. The company’s stock had a trading volume of 200,300 shares, compared to its average volume of 244,146. TPI Composites has a 12 month low of $18.20 and a 12 month high of $32.22. The stock has a market capitalization of $1.07 billion, a PE ratio of 24.84 and a beta of 0.92. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.52 and a current ratio of 1.55.

In other news, major shareholder Element Partners Ii Lp sold 59,732 shares of the business’s stock in a transaction on Tuesday, November 13th. The shares were sold at an average price of $23.80, for a total transaction of $1,421,621.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Element Partners Ii Intrafund sold 67,767 shares of the business’s stock in a transaction on Friday, November 23rd. The shares were sold at an average price of $24.67, for a total transaction of $1,671,811.89. The disclosure for this sale can be found here. Insiders have sold 1,464,049 shares of company stock worth $38,903,076 in the last quarter. Company insiders own 58.20% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Keybank National Association OH boosted its stake in shares of TPI Composites by 16.1% during the third quarter. Keybank National Association OH now owns 16,648 shares of the industrial products company’s stock valued at $475,000 after purchasing an additional 2,312 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in shares of TPI Composites during the fourth quarter valued at $60,000. Teachers Advisors LLC boosted its stake in shares of TPI Composites by 9.6% during the third quarter. Teachers Advisors LLC now owns 28,989 shares of the industrial products company’s stock valued at $828,000 after purchasing an additional 2,536 shares during the period. First Quadrant L P CA boosted its stake in shares of TPI Composites by 155.0% during the third quarter. First Quadrant L P CA now owns 4,852 shares of the industrial products company’s stock valued at $139,000 after purchasing an additional 2,949 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of TPI Composites by 12.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,034 shares of the industrial products company’s stock valued at $714,000 after purchasing an additional 3,107 shares during the period. 61.58% of the stock is owned by hedge funds and other institutional investors.

About TPI Composites

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers. The company also provides composite solutions for the transportation industry. It operates in the United States, Asia, Mexico, Europe, the Middle East, and Africa.

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