Tower International (TOWR) Announces Earnings Results, Beats Estimates By $0.02 EPS
Tower International (NYSE:TOWR) issued its quarterly earnings results on Tuesday. The auto parts company reported $1.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.02, Bloomberg Earnings reports. The firm had revenue of $538.00 million for the quarter, compared to analysts’ expectations of $531.15 million. Tower International had a return on equity of 30.51% and a net margin of 3.58%. Tower International’s revenue was up 16.5% on a year-over-year basis. During the same quarter last year, the business posted $1.02 EPS. Tower International updated its FY18 guidance to $4.10 EPS.
Shares of Tower International (TOWR) traded down $1.20 on Tuesday, reaching $26.10. The company had a trading volume of 125,317 shares, compared to its average volume of 80,487. The stock has a market cap of $560.43, a PE ratio of 8.34, a P/E/G ratio of 0.69 and a beta of 2.48. Tower International has a 1 year low of $21.00 and a 1 year high of $33.65. 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Friday, February 9th will be paid a $0.12 dividend. The ex-dividend date is Thursday, February 8th. This represents a $0.48 dividend on an annualized basis and a yield of 1.84%. Tower International’s dividend payout ratio is currently 15.64%.
TOWR has been the topic of a number of analyst reports. BidaskClub cut Tower International from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Zacks Investment Research cut Tower International from a “buy” rating to a “hold” rating in a research note on Saturday, December 30th. B. Riley reissued a “buy” rating on shares of Tower International in a research note on Wednesday, November 1st. ValuEngine cut Tower International from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Finally, FBR & Co reissued a “buy” rating and issued a $40.00 price target on shares of Tower International in a research note on Tuesday, October 31st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Tower International currently has a consensus rating of “Buy” and an average price target of $35.00.
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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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