TPI Composites, Inc. (NASDAQ:TPIC) Expected to Post Quarterly Sales of $430.27 Million

Wall Street brokerages expect that TPI Composites, Inc. (NASDAQ:TPIC) will report $430.27 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for TPI Composites’ earnings. The lowest sales estimate is $413.50 million and the highest is $446.13 million. TPI Composites reported sales of $373.82 million during the same quarter last year, which indicates a positive year over year growth rate of 15.1%. The business is expected to announce its next earnings report on Thursday, August 5th.

On average, analysts expect that TPI Composites will report full year sales of $1.81 billion for the current fiscal year, with estimates ranging from $1.79 billion to $1.84 billion. For the next financial year, analysts forecast that the business will report sales of $2.00 billion, with estimates ranging from $1.92 billion to $2.07 billion. Zacks’ sales averages are an average based on a survey of research analysts that follow TPI Composites.

TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings results on Thursday, May 6th. The industrial products company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.05. TPI Composites had a negative net margin of 1.18% and a positive return on equity of 13.12%. The company had revenue of $404.68 million during the quarter, compared to analysts’ expectations of $414.90 million. During the same quarter in the previous year, the company earned ($0.01) EPS. TPI Composites’s revenue was up 13.5% on a year-over-year basis.

Several research firms recently weighed in on TPIC. Morgan Stanley reduced their price objective on shares of TPI Composites from $68.00 to $62.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 18th. JPMorgan Chase & Co. lifted their price objective on shares of TPI Composites from $46.00 to $49.00 and gave the stock a “neutral” rating in a research note on Wednesday. Seaport Res Ptn reissued a “buy” rating on shares of TPI Composites in a research note on Thursday, July 15th. Piper Sandler assumed coverage on shares of TPI Composites in a research note on Thursday, June 10th. They issued a “neutral” rating and a $50.00 price target on the stock. Finally, Evercore ISI assumed coverage on shares of TPI Composites in a research note on Monday, April 19th. They issued an “outperform” rating and a $65.00 price target on the stock. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $59.62.

TPI Composites stock traded down $0.96 during midday trading on Monday, hitting $41.64. 1,420 shares of the stock were exchanged, compared to its average volume of 590,510. The firm has a fifty day moving average price of $45.64. TPI Composites has a 52 week low of $24.02 and a 52 week high of $81.36. The stock has a market capitalization of $1.53 billion, a PE ratio of -65.54 and a beta of 1.58. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.28 and a quick ratio of 1.25.

In other news, Director Steven C. Lockard sold 158,593 shares of TPI Composites stock in a transaction that occurred on Tuesday, May 11th. The shares were sold at an average price of $45.00, for a total value of $7,136,685.00. Following the sale, the director now directly owns 584,295 shares in the company, valued at $26,293,275. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William E. Siwek sold 2,130 shares of TPI Composites stock in a transaction that occurred on Tuesday, May 18th. The shares were sold at an average price of $44.41, for a total transaction of $94,593.30. Following the completion of the sale, the chief executive officer now owns 107,476 shares in the company, valued at $4,773,009.16. The disclosure for this sale can be found here. Insiders sold 220,355 shares of company stock worth $10,044,534 over the last quarter. 5.60% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Great West Life Assurance Co. Can increased its holdings in TPI Composites by 20.9% during the first quarter. Great West Life Assurance Co. Can now owns 2,210 shares of the industrial products company’s stock worth $124,000 after buying an additional 382 shares during the last quarter. Baird Financial Group Inc. increased its holdings in TPI Composites by 2.0% during the fourth quarter. Baird Financial Group Inc. now owns 21,727 shares of the industrial products company’s stock worth $1,147,000 after buying an additional 428 shares during the last quarter. Golden Green Inc. increased its holdings in TPI Composites by 3.9% during the second quarter. Golden Green Inc. now owns 11,593 shares of the industrial products company’s stock worth $561,000 after buying an additional 435 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in TPI Composites by 3.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 18,532 shares of the industrial products company’s stock worth $978,000 after buying an additional 550 shares during the last quarter. Finally, Hilltop Holdings Inc. increased its holdings in TPI Composites by 4.1% during the first quarter. Hilltop Holdings Inc. now owns 13,976 shares of the industrial products company’s stock worth $789,000 after buying an additional 550 shares during the last quarter. Institutional investors own 80.50% 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 (OEMs). The company also provides composite solutions for the transportation industry; and field service inspection and repair services to OEM customers and wind farm owners and operators.

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Earnings History and Estimates for TPI Composites (NASDAQ:TPIC)

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