TPI Composites, Inc. (NASDAQ:TPIC) Expected to Earn Q2 2022 Earnings of ($0.19) Per Share

TPI Composites, Inc. (NASDAQ:TPICGet Rating) – Stock analysts at Seaport Res Ptn increased their Q2 2022 earnings estimates for TPI Composites in a research note issued on Monday, May 9th. Seaport Res Ptn analyst T. Curran now forecasts that the industrial products company will earn ($0.19) per share for the quarter, up from their previous estimate of ($0.47). Seaport Res Ptn also issued estimates for TPI Composites’ Q3 2022 earnings at ($0.17) EPS, Q4 2022 earnings at ($0.16) EPS, FY2022 earnings at ($1.08) EPS, Q1 2023 earnings at ($0.10) EPS, Q2 2023 earnings at $0.02 EPS, Q3 2023 earnings at $0.16 EPS, Q4 2023 earnings at $0.20 EPS and FY2023 earnings at $0.28 EPS.

TPI Composites (NASDAQ:TPICGet Rating) last issued its earnings results on Thursday, May 5th. The industrial products company reported ($0.71) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.19. The company had revenue of $384.90 million during the quarter, compared to analyst estimates of $392.92 million. TPI Composites had a negative return on equity of 89.02% and a negative net margin of 10.13%. The business’s revenue was down 4.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.05) EPS.

A number of other research analysts have also issued reports on the company. Roth Capital upgraded TPI Composites from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $11.00 to $16.00 in a research report on Friday, May 6th. Zacks Investment Research upgraded TPI Composites from a “sell” rating to a “hold” rating in a research report on Wednesday, March 2nd. StockNews.com began coverage on TPI Composites in a research report on Thursday, March 31st. They set a “sell” rating for the company. JPMorgan Chase & Co. reduced their price objective on TPI Composites from $33.00 to $27.00 in a research report on Thursday, January 20th. Finally, Piper Sandler cut their target price on TPI Composites from $18.00 to $14.00 and set a “neutral” rating on the stock in a research note on Monday, March 14th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.62.

NASDAQ:TPIC opened at $10.02 on Thursday. TPI Composites has a 12-month low of $9.23 and a 12-month high of $51.79. The firm has a market capitalization of $373.33 million, a P/E ratio of -2.00 and a beta of 1.58. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.41 and a quick ratio of 1.38. The business has a 50 day simple moving average of $13.32 and a 200 day simple moving average of $15.70.

Several institutional investors and hedge funds have recently bought and sold shares of TPIC. Invesco Ltd. raised its stake in shares of TPI Composites by 74.5% in the 4th quarter. Invesco Ltd. now owns 1,650,828 shares of the industrial products company’s stock worth $24,696,000 after buying an additional 704,646 shares in the last quarter. State Street Corp raised its stake in shares of TPI Composites by 66.1% in the 4th quarter. State Street Corp now owns 1,499,812 shares of the industrial products company’s stock worth $22,437,000 after buying an additional 596,792 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of TPI Composites by 357.0% in the 4th quarter. Renaissance Technologies LLC now owns 753,600 shares of the industrial products company’s stock worth $11,274,000 after buying an additional 588,700 shares in the last quarter. Morgan Stanley raised its stake in shares of TPI Composites by 39.3% in the 2nd quarter. Morgan Stanley now owns 1,639,247 shares of the industrial products company’s stock worth $79,372,000 after buying an additional 462,156 shares in the last quarter. Finally, Schroder Investment Management Group raised its stake in shares of TPI Composites by 20.5% in the 3rd quarter. Schroder Investment Management Group now owns 2,470,586 shares of the industrial products company’s stock worth $83,382,000 after buying an additional 421,098 shares in the last quarter.

About TPI Composites (Get Rating)

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers (OEMs). The company also provides composite solutions for the transportation industry; and field service inspection and repair services to OEM customers and wind farm owners and operators.

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Earnings History and Estimates for TPI Composites (NASDAQ:TPIC)

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