Analysts Set Expectations for TPI Composites, Inc.’s Q2 2024 Earnings (NASDAQ:TPIC)

TPI Composites, Inc. (NASDAQ:TPIC) – Stock analysts at Roth Capital dropped their Q2 2024 earnings per share estimates for TPI Composites in a research note issued on Monday, May 6th. Roth Capital analyst J. Clare now anticipates that the industrial products company will post earnings per share of ($1.00) for the quarter, down from their previous estimate 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 announced its earnings results on Thursday, February 22nd. The industrial products company reported $0.27 earnings per share for the quarter, beating the consensus estimate of ($0.91) by $1.18. The business had revenue of $296.99 million for the quarter, compared to the consensus estimate of $340.91 million. During the same quarter in the previous year, the company earned ($0.73) EPS.

TPIC has been the subject of several other reports. Roth Mkm upped their target price on shares of TPI Composites from $3.30 to $3.75 and gave the company a “neutral” rating in a research note on Monday. Piper Sandler reaffirmed a “neutral” rating and set a $3.00 price objective (down previously from $4.00) on shares of TPI Composites in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, TPI Composites currently has an average rating of “Hold” and an average target price of $8.47.

TPI Composites Trading Up 0.7 %

TPIC opened at $3.87 on Wednesday. The business has a 50 day moving average of $2.93 and a 200-day moving average of $2.86. The stock has a market capitalization of $183.71 million, a price-to-earnings ratio of -0.84 and a beta of 1.96. TPI Composites has a 1-year low of $1.63 and a 1-year high of $12.24.

Hedge Funds Weigh In On TPI Composites

A number of hedge funds have recently modified their holdings of the stock. Oaktree Capital Management LP lifted its holdings in TPI Composites by 556.5% during the 4th quarter. Oaktree Capital Management LP now owns 4,600,642 shares of the industrial products company’s stock valued at $19,047,000 after purchasing an additional 3,899,903 shares during the last quarter. Carmignac Gestion raised its stake in shares of TPI Composites by 10.2% in the third quarter. Carmignac Gestion now owns 1,099,383 shares of the industrial products company’s stock valued at $2,913,000 after acquiring an additional 102,005 shares during the last quarter. Covalis Capital LLP acquired a new position in shares of TPI Composites in the 3rd quarter worth approximately $2,163,000. Rock Point Advisors LLC grew its position in TPI Composites by 98.9% during the 3rd 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 during the last quarter. Finally, Clean Energy Transition LLP acquired a new stake in TPI Composites during the 4th quarter valued at $1,620,000. 75.24% of the stock is owned by institutional investors and hedge funds.

TPI Composites Company Profile

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.