TPI Composites, Inc. (NASDAQ:TPIC) to Post Q2 2024 Earnings of ($1.00) Per Share, Roth Capital Forecasts

TPI Composites, Inc. (NASDAQ:TPIC) – Roth Capital lowered their Q2 2024 earnings estimates for shares of TPI Composites in a report issued on Monday, May 6th. Roth Capital analyst J. Clare now anticipates that the industrial products company will earn ($1.00) per share for the quarter, down from their prior 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.

TPI Composites (NASDAQ:TPIC) last released its quarterly earnings results on Thursday, February 22nd. The industrial products company reported $0.27 EPS for the quarter, beating the consensus estimate of ($0.91) by $1.18. The company had revenue of $296.99 million for the quarter, compared to the consensus estimate of $340.91 million. During the same period last year, the company earned ($0.73) earnings per share.

TPIC has been the subject of a number of other reports. Piper Sandler reiterated a “neutral” rating and issued a $3.00 price objective (down from $4.00) on shares of TPI Composites in a research report on Friday, February 23rd. Roth Mkm lifted their price target on shares of TPI Composites from $3.30 to $3.75 and gave the stock a “neutral” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, TPI Composites presently has a consensus rating of “Hold” and a consensus price target of $8.53.

TPI Composites Stock Performance

NASDAQ TPIC opened at $4.03 on Wednesday. TPI Composites has a 52 week low of $1.63 and a 52 week high of $12.24. The stock has a market capitalization of $191.30 million, a P/E ratio of -0.88 and a beta of 1.96. The stock has a fifty day moving average of $2.89 and a 200-day moving average of $2.85.

Institutional Investors Weigh In On TPI Composites

Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in TPI Composites during the 3rd quarter worth $93,000. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of TPI Composites by 26.9% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 107,000 shares of the industrial products company’s stock worth $284,000 after purchasing an additional 22,705 shares during the period. Jump Financial LLC bought a new position in shares of TPI Composites during the 3rd quarter valued at about $79,000. Fox Run Management L.L.C. acquired a new position in shares of TPI Composites in the 3rd quarter valued at approximately $94,000. Finally, Quantbot Technologies LP increased its stake in TPI Composites by 76.7% during the 3rd quarter. Quantbot Technologies LP now owns 37,734 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 16,378 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

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.