Tecnoglass (NASDAQ:TGLS) Issues Earnings Results

Tecnoglass (NASDAQ:TGLS) announced its quarterly earnings data on Thursday. The company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.11, Briefing.com reports. The business had revenue of $237.90 million during the quarter, compared to analyst estimates of $240.19 million. Tecnoglass had a return on equity of 28.12% and a net margin of 17.97%. Tecnoglass’s revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 earnings per share. Tecnoglass updated its FY 2024 guidance to EPS.

Tecnoglass Price Performance

Shares of TGLS stock traded up $4.19 on Friday, hitting $74.59. 189,748 shares of the company’s stock were exchanged, compared to its average volume of 368,564. The stock has a market cap of $3.51 billion, a P/E ratio of 22.45 and a beta of 1.86. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.43 and a quick ratio of 1.80. The company has a 50 day moving average of $68.38 and a 200 day moving average of $58.17. Tecnoglass has a 12 month low of $31.58 and a 12 month high of $80.51.

Tecnoglass Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were given a $0.11 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.59%. Tecnoglass’s payout ratio is presently 14.10%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. B. Riley reaffirmed a “neutral” rating and issued a $72.00 price objective (up from $69.00) on shares of Tecnoglass in a research note on Thursday, October 10th. Robert W. Baird raised their price objective on Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday. Sidoti downgraded Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 target price for the company. in a research report on Tuesday, October 22nd. Raymond James downgraded shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 22nd. Finally, Stifel Nicolaus upped their price objective on shares of Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $72.40.

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.