Equities Analysts Offer Predictions for TPI Composites, Inc.’s Q2 2024 Earnings (NASDAQ:TPIC)

TPI Composites, Inc. (NASDAQ:TPIC) – Analysts at Roth Capital cut their Q2 2024 EPS estimates for TPI Composites in a research report issued on Monday, May 6th. Roth Capital analyst J. Clare now forecasts that the industrial products company will earn ($1.00) per share for the quarter, down from their previous forecast of ($0.85). The consensus estimate for TPI Composites’ current full-year earnings is ($1.60) per share. Roth Capital also issued estimates for TPI Composites’ Q3 2024 earnings at ($0.26) EPS, Q4 2024 earnings at ($0.19) EPS, FY2024 earnings at ($2.76) EPS and FY2025 earnings at ($1.25) EPS.

A number of other brokerages have also recently issued reports on TPIC. Roth Mkm increased their price objective on TPI Composites from $3.30 to $3.75 and gave the stock a “neutral” rating in a report on Monday. Piper Sandler reiterated a “neutral” rating and set a $3.00 price target (down from $4.00) on shares of TPI Composites in a research report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $8.47.

TPI Composites Price Performance

TPI Composites stock opened at $3.85 on Wednesday. The firm has a market capitalization of $182.52 million, a P/E ratio of -0.84 and a beta of 1.96. TPI Composites has a one year low of $1.63 and a one year high of $12.24. The business has a fifty day moving average price of $2.91 and a 200-day moving average price of $2.86.

TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings results on Thursday, February 22nd. The industrial products company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of ($0.91) by $1.18. The business had revenue of $296.99 million for the quarter, compared to analysts’ expectations of $340.91 million. During the same quarter in the previous year, the company posted ($0.73) earnings per share.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Graham Capital Management L.P. boosted its holdings in shares of TPI Composites by 359.4% in the 3rd quarter. Graham Capital Management L.P. now owns 124,474 shares of the industrial products company’s stock worth $330,000 after purchasing an additional 97,377 shares in the last quarter. SG Americas Securities LLC boosted its stake in TPI Composites by 115.9% in the fourth quarter. SG Americas Securities LLC now owns 75,939 shares of the industrial products company’s stock worth $314,000 after buying an additional 40,758 shares in the last quarter. Dark Forest Capital Management LP bought a new position in TPI Composites during the third quarter valued at approximately $680,000. Rock Point Advisors LLC raised its stake in shares of TPI Composites by 98.9% during the third quarter. Rock Point Advisors LLC now owns 632,825 shares of the industrial products company’s stock worth $1,677,000 after acquiring an additional 314,715 shares in the last quarter. Finally, Quadrature Capital Ltd lifted its holdings in shares of TPI Composites by 342.5% in the 3rd quarter. Quadrature Capital Ltd now owns 63,114 shares of the industrial products company’s stock worth $167,000 after acquiring an additional 48,852 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.

About TPI Composites

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers (OEMs) in the United States, Mexico, Europe, the Middle East, Africa, and India. It also provides composite solutions for the automotive industry; and field service inspection and repair services comprising diagnostic, repair, and maintenance services for wind blades to OEM customers, and wind farm owners and operators.