Brokerages Expect TPI Composites Inc (TPIC) Will Post Earnings of -$0.02 Per Share

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Wall Street brokerages expect TPI Composites Inc (NASDAQ:TPIC) to post earnings per share of ($0.02) for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for TPI Composites’ earnings, with the lowest EPS estimate coming in at ($0.14) and the highest estimate coming in at $0.15. TPI Composites posted earnings per share of $0.58 in the same quarter last year, which would suggest a negative year over year growth rate of 103.4%. The company is scheduled to report its next quarterly earnings report on Wednesday, November 14th.

According to Zacks, analysts expect that TPI Composites will report full year earnings of $0.15 per share for the current financial year, with EPS estimates ranging from $0.11 to $0.21. For the next year, analysts anticipate that the firm will report earnings of $1.80 per share, with EPS estimates ranging from $1.61 to $1.90. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for TPI Composites.

TPI Composites (NASDAQ:TPIC) last posted its earnings results on Tuesday, August 7th. The industrial products company reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.09). TPI Composites had a net margin of 3.17% and a return on equity of 17.01%. The company had revenue of $230.61 million for the quarter, compared to the consensus estimate of $240.29 million.

A number of equities analysts have recently commented on the company. BidaskClub upgraded TPI Composites from a “hold” rating to a “buy” rating in a research note on Thursday, September 27th. Morgan Stanley lifted their price objective on TPI Composites from $29.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, September 11th. TheStreet lowered TPI Composites from a “b-” rating to a “c” rating in a research note on Wednesday, August 22nd. ValuEngine lowered TPI Composites from a “buy” rating to a “hold” rating in a research note on Monday, August 13th. Finally, UBS Group lifted their price objective on TPI Composites from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $33.83.

Shares of TPI Composites stock traded down $1.19 during trading on Friday, reaching $26.61. The company’s stock had a trading volume of 638,830 shares, compared to its average volume of 285,848. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.63 and a current ratio of 1.65. The firm has a market capitalization of $982.48 million, a PE ratio of 21.29 and a beta of -0.89. TPI Composites has a one year low of $16.35 and a one year high of $32.22.

In related news, Director Daniel G. Weiss sold 5,075 shares of the business’s stock in a transaction dated Friday, July 20th. The stock was sold at an average price of $29.56, for a total transaction of $150,017.00. Following the transaction, the director now directly owns 6,620 shares in the company, valued at $195,687.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Philip J. Deutch sold 346,971 shares of the business’s stock in a transaction dated Wednesday, July 18th. The shares were sold at an average price of $30.06, for a total value of $10,429,948.26. Following the transaction, the director now owns 6,620 shares in the company, valued at $198,997.20. The disclosure for this sale can be found here. Insiders have sold 2,348,218 shares of company stock worth $66,067,228 over the last 90 days. Corporate insiders own 58.20% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of TPIC. Alps Advisors Inc. boosted its holdings in TPI Composites by 10.6% during the second quarter. Alps Advisors Inc. now owns 23,222 shares of the industrial products company’s stock valued at $475,000 after purchasing an additional 2,218 shares in the last quarter. Sei Investments Co. boosted its holdings in TPI Composites by 40.3% during the first quarter. Sei Investments Co. now owns 7,992 shares of the industrial products company’s stock valued at $179,000 after purchasing an additional 2,294 shares in the last quarter. Rhumbline Advisers boosted its holdings in TPI Composites by 37.9% during the second quarter. Rhumbline Advisers now owns 13,634 shares of the industrial products company’s stock valued at $399,000 after purchasing an additional 3,750 shares in the last quarter. First Trust Advisors LP boosted its holdings in TPI Composites by 12.0% during the second quarter. First Trust Advisors LP now owns 50,560 shares of the industrial products company’s stock valued at $1,478,000 after purchasing an additional 5,410 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY acquired a new stake in TPI Composites during the second quarter valued at approximately $162,000. Hedge funds and other institutional investors own 51.24% of the company’s stock.

TPI Composites Company Profile

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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