Tecnoglass (NASDAQ:TGLS) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Tecnoglass (NASDAQ:TGLS) posted its earnings results on Thursday. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.03, Briefing.com reports. Tecnoglass had a net margin of 19.97% and a return on equity of 31.85%. The business had revenue of $219.65 million for the quarter, compared to analyst estimates of $219.29 million. During the same period in the prior year, the company posted $1.12 EPS. The company’s revenue for the quarter was down 2.5% on a year-over-year basis.

Tecnoglass Stock Up 3.9 %

Shares of NASDAQ TGLS opened at $56.09 on Monday. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 16.16 and a beta of 1.85. The company has a quick ratio of 1.72, a current ratio of 2.33 and a debt-to-equity ratio of 0.27. Tecnoglass has a 52-week low of $28.21 and a 52-week high of $59.76. The business’s 50 day moving average is $49.81 and its two-hundred day moving average is $50.41.

Tecnoglass Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend was Friday, June 28th. Tecnoglass’s payout ratio is 12.68%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Stifel Nicolaus lifted their price objective on Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a report on Friday. Sidoti upgraded Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 price objective on the stock in a report on Wednesday, June 26th. Robert W. Baird boosted their target price on Tecnoglass from $60.00 to $68.00 and gave the stock an “outperform” rating in a report on Friday. Finally, B. Riley restated a “buy” rating and set a $60.00 target price (down from $65.00) on shares of Tecnoglass in a report on Friday, May 10th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $58.33.

Tecnoglass Company Profile

Tecnoglass Inc manufactures, supplies, and installs architectural glass, windows, and associated aluminum and vinyl products for commercial and residential construction markets in Colombia, the United States, Panama, and internationally. The company provides low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.