Tower International, Inc. (NYSE:TOWR) issued an update on its FY17 earnings guidance on Monday morning. The company provided earnings per share guidance of $3.70 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.63. The company issued revenue guidance of $2.05 billion, compared to the consensus revenue estimate of $1.97 billion.
A number of equities research analysts have issued reports on the stock. ValuEngine downgraded shares of Tower International from a strong-buy rating to a buy rating in a research report on Friday, August 11th. Zacks Investment Research downgraded shares of Tower International from a buy rating to a hold rating in a research report on Tuesday, October 24th. BidaskClub upgraded shares of Tower International from a sell rating to a hold rating in a research report on Thursday, August 3rd. Finally, TheStreet upgraded shares of Tower International from a c+ rating to a b rating in a research report on Thursday, September 28th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Tower International has an average rating of Buy and a consensus target price of $32.25.
Shares of Tower International, Inc. (NYSE:TOWR) opened at 27.45 on Monday. The firm has a 50-day moving average of $26.35 and a 200-day moving average of $24.23. Tower International, Inc. has a 52-week low of $20.85 and a 52-week high of $30.50. The stock has a market cap of $563.30 million, a P/E ratio of 7.99 and a beta of 2.69.
The firm also recently disclosed 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 1.75%. The ex-dividend date of this dividend is Thursday, November 9th. This is a positive change from Tower International’s previous quarterly dividend of $0.11. Tower International’s payout ratio is currently 12.87%.
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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