Tower International Inc (NYSE:TOWR) – Equities research analysts at Seaport Global Securities dropped their Q1 2019 earnings per share estimates for Tower International in a research note issued on Monday, February 18th. Seaport Global Securities analyst M. Ward now forecasts that the auto parts company will post earnings of $0.36 per share for the quarter, down from their prior forecast of $0.74. Seaport Global Securities currently has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for Tower International’s Q2 2019 earnings at $0.36 EPS, FY2019 earnings at $2.50 EPS, Q1 2020 earnings at $0.66 EPS and Q3 2020 earnings at $0.99 EPS.
Tower International (NYSE:TOWR) last released its quarterly earnings results on Tuesday, February 12th. The auto parts company reported $0.74 EPS for the quarter, missing the Zacks’ consensus estimate of $1.14 by ($0.40). Tower International had a return on equity of 25.31% and a net margin of 2.42%. The company had revenue of $377.27 million during the quarter, compared to analysts’ expectations of $524.30 million. During the same period in the prior year, the firm earned $0.96 EPS. Tower International’s quarterly revenue was up 6.3% on a year-over-year basis.
Shares of TOWR opened at $25.90 on Thursday. The company has a market capitalization of $533.39 million, a PE ratio of 7.40, a price-to-earnings-growth ratio of 1.24 and a beta of 2.19. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.08 and a quick ratio of 0.88. Tower International has a fifty-two week low of $22.67 and a fifty-two week high of $36.65.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 28th. Stockholders of record on Thursday, February 7th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, February 6th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.01%. Tower International’s payout ratio is 14.86%.
Institutional investors and hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. raised its holdings in Tower International by 35.3% during the 4th quarter. Meeder Asset Management Inc. now owns 3,979 shares of the auto parts company’s stock valued at $94,000 after buying an additional 1,038 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in Tower International by 16.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 5,469 shares of the auto parts company’s stock valued at $130,000 after buying an additional 760 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in Tower International by 334.7% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,499 shares of the auto parts company’s stock valued at $155,000 after buying an additional 5,004 shares during the last quarter. United Services Automobile Association raised its holdings in Tower International by 12.8% during the 4th quarter. United Services Automobile Association now owns 10,079 shares of the auto parts company’s stock valued at $240,000 after buying an additional 1,146 shares during the last quarter. Finally, Bowling Portfolio Management LLC bought a new stake in Tower International during the 4th quarter valued at $432,000. Hedge funds and other institutional investors own 91.56% of the company’s stock.
About Tower International
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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