$414.09 Million in Sales Expected for TPI Composites Inc (NASDAQ:TPIC) This Quarter

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Wall Street brokerages forecast that TPI Composites Inc (NASDAQ:TPIC) will announce sales of $414.09 million for the current quarter, Zacks reports. Three analysts have issued estimates for TPI Composites’ earnings, with the highest sales estimate coming in at $454.80 million and the lowest estimate coming in at $378.80 million. TPI Composites posted sales of $290.06 million in the same quarter last year, which suggests a positive year-over-year growth rate of 42.8%. The firm is expected to report its next earnings report on Thursday, February 27th.

According to Zacks, analysts expect that TPI Composites will report full year sales of $1.42 billion for the current financial year, with estimates ranging from $1.38 billion to $1.47 billion. For the next fiscal year, analysts expect that the company will post sales of $1.59 billion, with estimates ranging from $1.42 billion to $1.77 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover TPI Composites.

TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings data on Wednesday, November 6th. The industrial products company reported ($0.13) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.19). TPI Composites had a negative return on equity of 6.29% and a negative net margin of 1.82%. The company had revenue of $383.84 million during the quarter, compared to analysts’ expectations of $400.60 million. During the same quarter last year, the business earned $0.26 earnings per share. The business’s quarterly revenue was up 50.5% on a year-over-year basis.

TPIC has been the subject of several research analyst reports. ValuEngine upgraded shares of TPI Composites from a “hold” rating to a “buy” rating in a report on Wednesday, November 13th. Roth Capital downgraded shares of TPI Composites from a “buy” rating to a “neutral” rating in a research note on Friday, November 8th. JMP Securities decreased their target price on shares of TPI Composites from $34.00 to $25.00 and set a “market outperform” rating for the company in a research note on Tuesday, September 10th. Craig Hallum decreased their target price on shares of TPI Composites from $37.00 to $31.00 and set an “in-line” rating for the company in a research note on Thursday, August 8th. Finally, Zacks Investment Research downgraded shares of TPI Composites from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $28.00.

TPIC traded up $0.25 on Tuesday, hitting $18.05. The company had a trading volume of 246,928 shares, compared to its average volume of 744,254. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.26 and a quick ratio of 1.22. TPI Composites has a 52-week low of $15.34 and a 52-week high of $32.74. The stock has a fifty day simple moving average of $18.57 and a 200-day simple moving average of $20.92. The firm has a market capitalization of $626.22 million, a P/E ratio of 225.63 and a beta of 1.73.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. State Board of Administration of Florida Retirement System increased its stake in shares of TPI Composites by 5.0% during the second quarter. State Board of Administration of Florida Retirement System now owns 13,055 shares of the industrial products company’s stock valued at $323,000 after purchasing an additional 620 shares in the last quarter. CoreCommodity Management LLC increased its position in shares of TPI Composites by 4.0% during the second quarter. CoreCommodity Management LLC now owns 21,287 shares of the industrial products company’s stock valued at $526,000 after acquiring an additional 828 shares in the last quarter. TCI Wealth Advisors Inc. bought a new stake in shares of TPI Composites during the second quarter valued at approximately $25,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of TPI Composites by 4.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,728 shares of the industrial products company’s stock valued at $735,000 after acquiring an additional 1,182 shares in the last quarter. Finally, Smithfield Trust Co. increased its position in shares of TPI Composites by 35.4% during the third quarter. Smithfield Trust Co. now owns 5,003 shares of the industrial products company’s stock valued at $94,000 after acquiring an additional 1,309 shares in the last quarter. 86.26% of the stock is owned by institutional investors and hedge funds.

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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