Zacks: Brokerages Expect TPI Composites Inc (TPIC) Will Announce Earnings of $0.07 Per Share

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Wall Street analysts predict that TPI Composites Inc (NASDAQ:TPIC) will report earnings per share (EPS) of $0.07 for the current fiscal quarter, Zacks reports. Two analysts have made estimates for TPI Composites’ earnings. The highest EPS estimate is $0.19 and the lowest is ($0.02). TPI Composites posted earnings of $0.24 per share during the same quarter last year, which suggests a negative year over year growth rate of 70.8%. The company is expected to announce its next quarterly earnings results on Thursday, May 2nd.

On average, analysts expect that TPI Composites will report full-year earnings of $1.32 per share for the current financial year, with EPS estimates ranging from $1.28 to $1.38. For the next financial year, analysts forecast that the business will post earnings of $2.12 per share, with EPS estimates ranging from $1.62 to $2.33. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that follow TPI Composites.

TPI Composites (NASDAQ:TPIC) last posted its quarterly earnings results on Thursday, February 28th. The industrial products company reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.10). The company had revenue of $290.06 million during the quarter, compared to analyst estimates of $303.50 million. TPI Composites had a return on equity of 0.98% and a net margin of 0.51%.

A number of equities research analysts recently issued reports on TPIC shares. BidaskClub upgraded shares of TPI Composites from a “hold” rating to a “buy” rating in a report on Saturday, January 5th. Zacks Investment Research cut shares of TPI Composites from a “hold” rating to a “strong sell” rating in a report on Saturday, January 5th. TheStreet cut shares of TPI Composites from a “b-” rating to a “c” rating in a report on Wednesday, January 23rd. JPMorgan Chase & Co. cut shares of TPI Composites from an “overweight” rating to a “neutral” rating and set a $35.00 price objective for the company. in a report on Tuesday, February 19th. Finally, ValuEngine upgraded shares of TPI Composites from a “hold” rating to a “buy” rating in a report on Monday, April 1st. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $36.94.

NASDAQ:TPIC traded up $0.29 during trading hours on Tuesday, reaching $30.06. The company’s stock had a trading volume of 209,400 shares, compared to its average volume of 294,970. The stock has a market capitalization of $1.04 billion, a PE ratio of 375.75 and a beta of 0.86. TPI Composites has a one year low of $21.65 and a one year high of $32.74. The company has a current ratio of 1.53, a quick ratio of 1.51 and a debt-to-equity ratio of 0.50.

In other TPI Composites news, Director Daniel G. Weiss sold 10,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $31.06, for a total transaction of $310,600.00. Following the completion of the sale, the director now directly owns 6,620 shares in the company, valued at $205,617.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas J. Castle sold 1,018 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $29.00, for a total transaction of $29,522.00. The disclosure for this sale can be found here. Insiders have sold 535,556 shares of company stock valued at $16,205,758 over the last 90 days. Corporate insiders own 20.30% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. bought a new stake in TPI Composites during the fourth quarter valued at about $60,000. Great West Life Assurance Co. Can bought a new stake in TPI Composites during the fourth quarter valued at about $64,000. Legal & General Group Plc boosted its holdings in TPI Composites by 28.6% during the fourth quarter. Legal & General Group Plc now owns 2,775 shares of the industrial products company’s stock valued at $68,000 after acquiring an additional 617 shares during the period. NumerixS Investment Technologies Inc bought a new stake in TPI Composites during the fourth quarter valued at about $78,000. Finally, Pearl River Capital LLC bought a new stake in TPI Composites during the fourth quarter valued at about $113,000. Institutional investors own 69.57% of the company’s stock.

TPI Composites Company Profile

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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