Zacks: Brokerages Anticipate Tower International Inc (TOWR) Will Announce Earnings of $0.17 Per Share

Equities analysts forecast that Tower International Inc (NYSE:TOWR) will report earnings per share of $0.17 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Tower International’s earnings, with estimates ranging from $0.14 to $0.19. Tower International reported earnings per share of $0.82 during the same quarter last year, which suggests a negative year-over-year growth rate of 79.3%. The business is expected to issue its next quarterly earnings results on Thursday, May 2nd.

On average, analysts expect that Tower International will report full year earnings of $2.49 per share for the current financial year, with EPS estimates ranging from $2.40 to $2.55. For the next year, analysts expect that the company will post earnings of $3.46 per share, with EPS estimates ranging from $3.35 to $3.63. Zacks Investment Research’s earnings per share 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 issued its quarterly earnings data on Tuesday, February 12th. The auto parts company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.40). Tower International had a net margin of 2.42% and a return on equity of 25.34%. The business had revenue of $377.27 million for the quarter, compared to the consensus estimate of $524.30 million. During the same period in the previous year, the firm earned $0.96 EPS. The company’s revenue was up 6.3% on a year-over-year basis.

TOWR has been the subject of a number of recent research reports. Roth Capital set a $32.00 price objective on shares of Tower International and gave the company a “buy” rating in a research report on Thursday, February 14th. ValuEngine downgraded shares of Tower International from a “hold” rating to a “sell” rating in a research report on Wednesday, February 13th. Seaport Global Securities initiated coverage on shares of Tower International in a research report on Wednesday, February 13th. They set a “neutral” rating for the company. Zacks Investment Research downgraded shares of Tower International from a “buy” rating to a “strong sell” rating in a research report on Saturday, January 5th. Finally, TheStreet downgraded shares of Tower International from a “b-” rating to a “c+” rating in a research report on Monday, March 25th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $29.00.

Shares of TOWR stock opened at $24.70 on Friday. Tower International has a 1 year low of $20.48 and a 1 year high of $36.65. The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 0.98. The firm has a market cap of $505.82 million, a PE ratio of 7.06 and a beta of 2.05.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Thursday, May 9th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.11%. Tower International’s dividend payout ratio is currently 14.86%.

Institutional investors have recently modified their holdings of the stock. Meeder Asset Management Inc. boosted its holdings in Tower International by 35.3% in the 4th quarter. Meeder Asset Management Inc. now owns 3,979 shares of the auto parts company’s stock worth $94,000 after buying an additional 1,038 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in Tower International by 16.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 5,469 shares of the auto parts company’s stock worth $130,000 after buying an additional 760 shares during the period. Metropolitan Life Insurance Co. NY boosted its holdings in Tower International by 334.7% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,499 shares of the auto parts company’s stock worth $155,000 after buying an additional 5,004 shares during the period. United Services Automobile Association boosted its holdings in Tower International by 12.8% in the 4th quarter. United Services Automobile Association now owns 10,079 shares of the auto parts company’s stock worth $240,000 after buying an additional 1,146 shares during the period. Finally, MetLife Investment Advisors LLC boosted its holdings in Tower International by 47.9% in the 3rd quarter. MetLife Investment Advisors LLC now owns 15,459 shares of the auto parts company’s stock worth $468,000 after buying an additional 5,004 shares during the period. 93.66% of the stock is owned by institutional investors.

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 Brazil. 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.

Recommended Story: Why does a company issue an IPO?

Get a free copy of the Zacks research report on Tower International (TOWR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Tower International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tower International and related companies with MarketBeat.com's FREE daily email newsletter.