TPI Composites (TPIC) Issues Quarterly Earnings Results, Beats Expectations By $0.34 EPS

Share on StockTwits

TPI Composites (NASDAQ:TPIC) posted its quarterly earnings data on Wednesday. The industrial products company reported $0.26 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.34, Briefing.com reports. The business had revenue of $255.00 million for the quarter, compared to analysts’ expectations of $258.35 million. TPI Composites had a net margin of 3.17% and a return on equity of 17.01%. The firm’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.62 EPS.

TPIC stock traded up $0.31 during midday trading on Friday, hitting $25.65. The company’s stock had a trading volume of 251,365 shares, compared to its average volume of 330,892. The company has a current ratio of 1.65, a quick ratio of 1.63 and a debt-to-equity ratio of 0.39. TPI Composites has a twelve month low of $16.35 and a twelve month high of $32.22. The firm has a market capitalization of $926.73 million, a P/E ratio of 20.52 and a beta of 0.13.

TPIC has been the topic of several research reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $42.00 price objective (up from $31.00) on shares of TPI Composites in a research report on Monday, October 29th. Zacks Investment Research cut shares of TPI Composites from a “hold” rating to a “sell” rating in a research report on Wednesday, October 31st. Cowen set a $35.00 price target on shares of TPI Composites and gave the company a “buy” rating in a research note on Wednesday, August 8th. TheStreet upgraded shares of TPI Composites from a “c” rating to a “b-” rating in a research note on Monday, July 23rd. Finally, BidaskClub lowered shares of TPI Composites from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $34.61.

In other TPI Composites news, Director Philip J. Deutch sold 51,664 shares of TPI Composites stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $26.46, for a total value of $1,367,029.44. Following the sale, the director now directly owns 6,620 shares in the company, valued at approximately $175,165.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel G. Weiss sold 48,080 shares of TPI Composites stock in a transaction on Friday, September 14th. The shares were sold at an average price of $27.60, for a total transaction of $1,327,008.00. Following the completion of the sale, the director now owns 6,620 shares in the company, valued at $182,712. The disclosure for this sale can be found here. Insiders sold a total of 2,629,265 shares of company stock worth $71,588,130 over the last quarter. Company insiders own 58.20% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This report was originally posted by Macon Daily and is the sole property of of Macon Daily. If you are accessing this report on another domain, it was illegally copied and reposted in violation of US & international copyright & trademark law. The correct version of this report can be accessed at https://macondaily.com/2018/11/09/tpi-composites-tpic-issues-quarterly-earnings-results-beats-expectations-by-0-34-eps.html.

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.

Featured Story: What is Considered a Good Return on Equity (ROE)?

Earnings History for TPI Composites (NASDAQ:TPIC)

Receive News & Ratings for TPI Composites Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TPI Composites and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply