Tower International Inc (TOWR) reported quarterly earnings results on Tuesday, Jul-26-2016. The company said it had a profit of $0.81 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.12. Analysts had a consensus of $0.69. The company posted revenue of $505.10 million in the period, compared to analysts expectations of $504.83 million. The company’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 EPS.
Many Wall Street Analysts have commented on Tower International Inc. Tower International Inc was Downgraded by Wells Fargo to ” Market Perform” on Apr 29, 2016.
Tower International Inc opened for trading at $21.85 and hit $22.44 on the upside on Wednesday, eventually ending the session at $22.01, with a gain of 0.64% or 0.14 points. The heightened volatility saw the trading volume jump to 2,01,384 shares. Company has a market cap of $466 M.
In a different news, on Jun 30, 2016, James C Gouin (CFO) purchased 2,500 shares at $19.66 per share price. According to the SEC, on Jun 30, 2016, Nicholas D Chabraja (director) purchased 4,000 shares at $19.42 per share price. On Jun 30, 2016, Thomas K Brown (director) purchased 6,390 shares at $19.70 per share price, according to the Form-4 filing with the securities and exchange commission.
Tower International Inc. is a global manufacturer of engineered automotive structural metal components and assemblies serving automotive original equipment manufacturers (OEMs). The Company operates in two segments: the Americas and International. The International segment consists of Europe and Asia and the Americas segment consists of North and South America. The Company offers its automotive customers a product portfolio supplying body-structure stampings frame and other chassis structures and complex welded assemblies for small and large cars crossovers pickups and sport utility vehicles (SUVs). The Company’s products are manufactured at 27 facilities located in North America Europe Brazil and China. The Company supports its manufacturing operations through seven engineering and sales locations around the world. The Company produces a range of structural components and assemblies.