Tower International, Inc. (TOWR) Expected to Post Quarterly Sales of $530.93 Million

Equities analysts expect Tower International, Inc. (NYSE:TOWR) to post $530.93 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Tower International’s earnings. The highest sales estimate is $531.69 million and the lowest is $529.80 million. Tower International reported sales of $462.27 million during the same quarter last year, which indicates a positive year over year growth rate of 14.9%. The firm is expected to report its next earnings report on Tuesday, February 13th.

On average, analysts expect that Tower International will report full-year sales of $530.93 million for the current financial year. For the next year, analysts anticipate that the company will post sales of $2.07 billion per share, with estimates ranging from $2.05 billion to $2.09 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Tower International.

Tower International (NYSE:TOWR) last posted its quarterly earnings results on Monday, October 30th. The auto parts company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.77 by $0.08. The business had revenue of $462.00 million for the quarter, compared to analyst estimates of $451.73 million. Tower International had a return on equity of 30.51% and a net margin of 3.58%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.90 EPS.

A number of analysts recently issued reports on the company. B. Riley reissued a “buy” rating on shares of Tower International in a research report on Wednesday, November 1st. ValuEngine downgraded Tower International from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 7th. TheStreet raised Tower International from a “c+” rating to a “b” rating in a research report on Thursday, September 28th. BidaskClub raised Tower International from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. Finally, Zacks Investment Research downgraded Tower International from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Tower International presently has a consensus rating of “Buy” and an average target price of $33.67.

In other Tower International news, SVP William Cook sold 6,601 shares of Tower International stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $31.87, for a total value of $210,373.87. Following the completion of the transaction, the senior vice president now directly owns 11,917 shares of the company’s stock, valued at approximately $379,794.79. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 6.20% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Delphi Management Inc. MA acquired a new position in shares of Tower International during the third quarter worth about $215,000. Aperio Group LLC acquired a new position in shares of Tower International during the third quarter worth about $254,000. Eqis Capital Management Inc. acquired a new position in shares of Tower International during the third quarter worth about $259,000. Gamco Investors INC. ET AL grew its position in shares of Tower International by 34.0% during the third quarter. Gamco Investors INC. ET AL now owns 13,400 shares of the auto parts company’s stock worth $364,000 after buying an additional 3,400 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. grew its position in shares of Tower International by 41.0% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 14,100 shares of the auto parts company’s stock worth $383,000 after buying an additional 4,100 shares in the last quarter. 89.92% of the stock is owned by institutional investors and hedge funds.

Shares of Tower International (NYSE:TOWR) traded up $0.10 during trading hours on Wednesday, hitting $30.70. The company had a trading volume of 53,800 shares, compared to its average volume of 124,821. The company has a quick ratio of 1.01, a current ratio of 1.18 and a debt-to-equity ratio of 1.32. The firm has a market cap of $630.22, a P/E ratio of 8.50, a price-to-earnings-growth ratio of 0.83 and a beta of 2.69. Tower International has a 1 year low of $21.00 and a 1 year high of $33.65.

The company also recently announced a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Friday, November 10th were given a $0.12 dividend. This is an increase from Tower International’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 1.56%. The ex-dividend date was Thursday, November 9th. Tower International’s payout ratio is currently 15.64%.

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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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