Tower International Inc(NYSE:TOWR) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 26, 2016. Company reported revenue of $505.13M. Analysts estimated a revenue of $504.70M. Earnings per share were $0.81. Analysts had estimated an EPS of $0.69.
In a different note, On Apr 29, 2016, JP Morgan said it Assumes its rating on Tower International Inc. The shares have been rated ‘Neutral’ by the firm. On Apr 29, 2016, Wells Fargo said it Downgrades its rating on Tower International Inc. The shares have been rated ‘Market Perform’ by the firm.
Tower International Inc (TOWR) shares turned negative on Fridays trading session with the shares closing down -0.36 points or -1.54% at a volume of 1,70,105. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $23.57. The peak price level was also seen at $23.57 while the days lowest was $23.02. Finally the shares closed at $23.08. The 52-week high of the shares is $31.41 while the 52-week low is $18.75. According to the latest information available, the market cap of the company is $486 M.
Tower International Inc has also declared a cash dividend of $0.1000 on Jul 22, 2016. The shares will quote ex-dividend on Aug 8, 2016 and the record date has been fixed on Aug 10, 2016. The dividend payable date has been fixed on Sep 9, 2016.
Several Insider Transactions has been reported to the SEC. On Jun 30, 2016, James C Gouin (CFO) purchased 2,500 shares at $19.66 per share price.Also, 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.