Tower International Inc (NYSE:TOWR) announced a quarterly dividend on Thursday, October 18th, RTT News reports. Investors of record on Thursday, November 8th will be paid a dividend of 0.13 per share by the auto parts company on Friday, December 7th. This represents a $0.52 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Wednesday, November 7th. This is a positive change from Tower International’s previous quarterly dividend of $0.12.
Tower International has a payout ratio of 12.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Tower International to earn $4.41 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 11.8%.
Shares of Tower International stock opened at $30.60 on Friday. The firm has a market cap of $632.63 million, a P/E ratio of 8.14, a price-to-earnings-growth ratio of 0.93 and a beta of 2.31. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.98 and a current ratio of 1.08. Tower International has a 12 month low of $24.02 and a 12 month high of $36.65.
Tower International (NYSE:TOWR) last issued its earnings results on Monday, October 29th. The auto parts company reported $1.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.11. The firm had revenue of $524.57 million for the quarter, compared to analyst estimates of $512.78 million. Tower International had a return on equity of 29.06% and a net margin of 2.68%. The business’s revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 earnings per share. Research analysts anticipate that Tower International will post 4.19 EPS for the current year.
Several analysts have issued reports on TOWR shares. ValuEngine lowered Tower International from a “hold” rating to a “sell” rating in a research note on Saturday, October 6th. Citigroup boosted their target price on Tower International from $29.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, August 9th. Zacks Investment Research upgraded Tower International from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd. Finally, Roth Capital set a $36.00 target price on Tower International and gave the company a “buy” rating in a research note on Tuesday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Tower International has a consensus rating of “Hold” and an average price target of $32.25.
About Tower International
Tower International, Inc manufactures and sells engineered automotive structural metal components and assemblies primarily for original equipment manufacturers. It operates in two segments, North America and Europe. The company provides body structures and assemblies, including structural metal components, which comprise body pillars, roof rails, and side sills; and Class A surfaces and assemblies that consist of body sides, hoods, doors, fenders, and pickup truck boxes.
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