Tower International Inc (TOWR) reported quarterly earnings results on Thursday, Apr-28-2016. The company said it had a profit of $0.63 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.07. Analysts had a consensus of $0.56. The company posted revenue of $511.50 million in the period, compared to analysts expectations of $506.98 million. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 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 was Upgraded by Wells Fargo to ” Outperform” on Mar 21, 2016.
Tower International Inc closed down -0.34 points or -1.21% at $27.86 with 2,14,307 shares getting traded on Wednesday. Post opening the session at $28.05, the shares hit an intraday low of $27.53 and an intraday high of $28.38 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Feb 27, 2015, James C Gouin (EVP & CFO) sold 8,666 shares at $27.86 per share price.
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.