Zacks: Brokerages Anticipate TPI Composites Inc (NASDAQ:TPIC) to Announce $0.07 Earnings Per Share

Equities research analysts forecast that TPI Composites Inc (NASDAQ:TPIC) will post earnings of $0.07 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for TPI Composites’ earnings. The highest EPS estimate is $0.12 and the lowest is $0.01. TPI Composites posted earnings per share of ($0.02) in the same quarter last year, which would indicate a positive year-over-year growth rate of 450%. The business is scheduled to issue its next earnings results on Wednesday, November 6th.

On average, analysts expect that TPI Composites will report full-year earnings of ($0.06) per share for the current financial year, with EPS estimates ranging from ($0.17) to $0.06. For the next financial year, analysts anticipate that the firm will report earnings of $1.57 per share, with EPS estimates ranging from $1.32 to $1.99. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that cover TPI Composites.

TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.33. The business had revenue of $330.77 million for the quarter, compared to the consensus estimate of $330.90 million. TPI Composites had a negative net margin of 0.82% and a negative return on equity of 5.59%. TPI Composites’s revenue for the quarter was up 43.4% on a year-over-year basis. During the same period last year, the company posted ($0.12) EPS.

A number of brokerages recently weighed in on TPIC. UBS Group cut their price target on shares of TPI Composites from $29.00 to $27.00 and set a “buy” rating on the stock in a research report on Friday. Raymond James upgraded shares of TPI Composites from an “outperform” rating to a “strong-buy” rating and set a $32.00 price target on the stock in a research report on Tuesday, August 20th. JMP Securities cut their price target on shares of TPI Composites from $34.00 to $25.00 and set a “market outperform” rating on the stock in a research report on Tuesday, September 10th. Canaccord Genuity cut their price target on shares of TPI Composites from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, BidaskClub upgraded shares of TPI Composites from a “sell” rating to a “hold” rating in a research report on Saturday, September 14th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $29.73.

Shares of NASDAQ:TPIC opened at $18.53 on Wednesday. The company has a market capitalization of $651.40 million, a price-to-earnings ratio of 231.63 and a beta of 1.72. The firm’s 50 day simple moving average is $18.34 and its 200 day simple moving average is $23.36. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.27 and a quick ratio of 1.25. TPI Composites has a fifty-two week low of $16.80 and a fifty-two week high of $32.74.

In related news, President William E. Siwek bought 2,823 shares of the company’s stock in a transaction on Monday, August 26th. The shares were purchased at an average cost of $17.73 per share, for a total transaction of $50,051.79. Following the acquisition, the president now owns 67,676 shares of the company’s stock, valued at approximately $1,199,895.48. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 20.30% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Atria Investments LLC acquired a new stake in TPI Composites during the 2nd quarter worth approximately $696,000. Schroder Investment Management Group raised its holdings in TPI Composites by 62.1% during the 2nd quarter. Schroder Investment Management Group now owns 328,301 shares of the industrial products company’s stock worth $8,116,000 after buying an additional 125,833 shares during the period. Polar Asset Management Partners Inc. acquired a new stake in TPI Composites during the 2nd quarter worth approximately $4,128,000. Rice Hall James & Associates LLC raised its holdings in TPI Composites by 9.9% during the 2nd quarter. Rice Hall James & Associates LLC now owns 100,803 shares of the industrial products company’s stock worth $2,492,000 after buying an additional 9,095 shares during the period. Finally, Triodos Investment Management BV acquired a new stake in TPI Composites during the 2nd quarter worth approximately $4,944,000. Hedge funds and other institutional investors own 86.88% of the company’s stock.

About TPI Composites

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers. The company also provides composite solutions for the transportation industry. It operates in the United States, Asia, Mexico, Europe, the Middle East, and Africa.

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