Tower International Inc (NYSE:TOWR) – Stock analysts at B. Riley upped their FY2018 earnings estimates for shares of Tower International in a research note issued to investors on Tuesday, October 30th, Zacks Investment Research reports. B. Riley analyst C. Horn now expects that the auto parts company will post earnings per share of $4.19 for the year, up from their prior estimate of $4.14. B. Riley also issued estimates for Tower International’s Q1 2019 earnings at $0.83 EPS, Q2 2019 earnings at $1.01 EPS, Q3 2019 earnings at $1.11 EPS, FY2019 earnings at $4.19 EPS and FY2020 earnings at $4.98 EPS.
Tower International (NYSE:TOWR) last issued its earnings results on Monday, October 29th. The auto parts company reported $1.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.11. Tower International had a return on equity of 29.06% and a net margin of 2.68%. The business had revenue of $524.57 million during the quarter, compared to analysts’ expectations of $512.78 million. During the same period in the prior year, the firm posted $0.85 EPS. Tower International’s quarterly revenue was up 13.5% compared to the same quarter last year.
A number of other equities research analysts have also recently weighed in on TOWR. Zacks Investment Research raised Tower International from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a report on Thursday, November 1st. Roth Capital set a $36.00 price target on Tower International and gave the company a “buy” rating in a report on Tuesday, October 30th. ValuEngine cut Tower International from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Finally, Citigroup raised their price target on Tower International from $29.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, August 9th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $32.25.
TOWR stock traded up $1.12 during midday trading on Wednesday, reaching $30.50. 103,498 shares of the company’s stock traded hands, compared to its average volume of 142,232. Tower International has a 1-year low of $24.02 and a 1-year high of $36.65. The stock has a market capitalization of $605.43 million, a price-to-earnings ratio of 8.11, a P/E/G ratio of 0.88 and a beta of 2.09. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.08 and a quick ratio of 0.88.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in shares of Tower International by 5.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,282,633 shares of the auto parts company’s stock valued at $35,593,000 after buying an additional 61,233 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Tower International by 100.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 395,085 shares of the auto parts company’s stock valued at $11,951,000 after buying an additional 198,069 shares during the period. Millennium Management LLC increased its stake in shares of Tower International by 29.6% in the 1st quarter. Millennium Management LLC now owns 296,525 shares of the auto parts company’s stock valued at $8,229,000 after buying an additional 67,751 shares during the period. Northern Trust Corp increased its stake in shares of Tower International by 1.5% in the 1st quarter. Northern Trust Corp now owns 217,161 shares of the auto parts company’s stock valued at $6,026,000 after buying an additional 3,169 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Tower International by 2.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 194,055 shares of the auto parts company’s stock valued at $5,870,000 after buying an additional 5,071 shares during the period. 92.15% of the stock is owned by institutional investors.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Thursday, November 8th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.70%. This is a boost from Tower International’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Wednesday, November 7th. Tower International’s dividend payout ratio (DPR) is currently 13.83%.
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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