Equities analysts forecast that Tower International, Inc. (NYSE:TOWR) will post sales of $496.22 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Tower International’s earnings, with the highest sales estimate coming in at $497.60 million and the lowest estimate coming in at $495.00 million. Tower International reported sales of $505.13 million during the same quarter last year, which indicates a negative year over year growth rate of 1.8%. The company is scheduled to report its next quarterly earnings results on Tuesday, July 25th.
According to Zacks, analysts expect that Tower International will report full-year sales of $496.22 million for the current year, with estimates ranging from $1.92 billion to $1.93 billion. For the next year, analysts forecast that the company will post sales of $2.00 billion per share, with estimates ranging from $1.98 billion to $2.02 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Tower International.
Tower International (NYSE:TOWR) last released its quarterly earnings results on Tuesday, May 2nd. The auto parts company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.16. The business had revenue of $497.60 million during the quarter, compared to the consensus estimate of $476.75 million. Tower International had a return on equity of 33.60% and a net margin of 2.47%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 EPS.
A number of equities analysts have weighed in on the stock. Zacks Investment Research raised shares of Tower International from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Wednesday, April 26th. ValuEngine downgraded shares of Tower International from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, FBR & Co reissued an “outperform” rating and set a $40.00 price target on shares of Tower International in a research report on Monday, June 12th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $31.17.
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Tower International (NYSE:TOWR) traded down 1.16% during trading on Friday, reaching $21.25. The company’s stock had a trading volume of 65,429 shares. The firm has a market cap of $435.39 million, a PE ratio of 9.42 and a beta of 2.40. The company has a 50-day moving average of $24.07 and a 200 day moving average of $26.23. Tower International has a one year low of $18.75 and a one year high of $30.50.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 9th. Stockholders of record on Wednesday, May 10th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Monday, May 8th. Tower International’s dividend payout ratio is presently 19.38%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Bogle Investment Management L P DE acquired a new position in shares of Tower International during the first quarter valued at $2,662,000. Russell Investments Group Ltd. acquired a new position in shares of Tower International during the fourth quarter valued at $2,470,000. James Investment Research Inc. boosted its position in shares of Tower International by 80.0% in the first quarter. James Investment Research Inc. now owns 107,260 shares of the auto parts company’s stock valued at $2,907,000 after buying an additional 47,670 shares in the last quarter. Geode Capital Management LLC boosted its position 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 valued at $5,121,000 after buying an additional 26,727 shares in the last quarter. Finally, Martingale Asset Management L P acquired a new position in shares of Tower International during the fourth quarter valued at $726,000. Institutional investors and hedge funds own 90.75% of the company’s stock.
About Tower International
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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