Tower International, Inc. (NYSE:TOWR) updated its FY17 earnings guidance on Monday. The company provided EPS guidance of $3.70 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.63. The company issued revenue guidance of $2.05 billion, compared to the consensus revenue estimate of $1.97 billion.
Several equities research analysts recently issued reports on TOWR shares. BidaskClub downgraded shares of Tower International from a buy rating to a hold rating in a research note on Tuesday, November 7th. B. Riley reiterated a buy rating on shares of Tower International in a research note on Wednesday, November 1st. FBR & Co reiterated a buy rating and issued a $40.00 target price on shares of Tower International in a research note on Tuesday, October 31st. ValuEngine upgraded shares of Tower International from a buy rating to a strong-buy rating in a research note on Wednesday, October 18th. Finally, Zacks Investment Research downgraded shares of Tower International from a buy rating to a hold rating in a research note on Tuesday, October 24th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $33.67.
Shares of Tower International, Inc. (NYSE TOWR) traded down $0.90 during mid-day trading on Tuesday, reaching $29.90. 131,300 shares of the company’s stock traded hands, compared to its average volume of 127,945. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.18 and a quick ratio of 1.01. The firm has a market capitalization of $632.28, a P/E ratio of 8.56, a PEG ratio of 0.83 and a beta of 2.69. Tower International, Inc. has a 1 year low of $21.00 and a 1 year high of $33.65.
Tower International (NYSE:TOWR) last issued its quarterly earnings data on Monday, October 30th. The auto parts company reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.08. The firm had revenue of $462.00 million during the quarter, compared to the consensus estimate of $451.73 million. Tower International had a net margin of 3.58% and a return on equity of 30.51%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period last year, the business posted $0.90 earnings per share. research analysts forecast that Tower International, Inc. will post 3.7 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 10th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.61%. This is an increase from Tower International’s previous quarterly dividend of $0.11. The ex-dividend date is Thursday, November 9th. Tower International’s payout ratio is presently 14.63%.
In other news, SVP William Cook sold 6,601 shares of Tower International stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $31.87, for a total value of $210,373.87. Following the completion of the sale, the senior vice president now directly owns 11,917 shares in the company, valued at $379,794.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 6.20% of the stock is currently owned by insiders.
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Tower International Company Profile
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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