FY2024 EPS Estimates for Tecnoglass Boosted by DA Davidson

Tecnoglass Inc. (NASDAQ:TGLS) – Equities research analysts at DA Davidson upped their FY2024 earnings per share estimates for Tecnoglass in a research note issued on Tuesday, November 12th. DA Davidson analyst B. Thielman now anticipates that the company will post earnings per share of $3.42 for the year, up from their previous forecast of $3.32. DA Davidson has a “Buy” rating and a $90.00 price objective on the stock. The consensus estimate for Tecnoglass’ current full-year earnings is $3.52 per share. DA Davidson also issued estimates for Tecnoglass’ Q4 2024 earnings at $0.98 EPS and FY2025 earnings at $4.06 EPS.

A number of other analysts have also recently weighed in on the company. Sidoti cut Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price target on the stock. in a research report on Tuesday, October 22nd. Stifel Nicolaus upped their price target on Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Raymond James lowered shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 22nd. B. Riley reiterated a “neutral” rating and set a $72.00 target price (up previously from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th. Finally, Robert W. Baird raised their target price on Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $77.40.

Tecnoglass Trading Down 6.9 %

Shares of Tecnoglass stock opened at $73.93 on Wednesday. The firm has a market capitalization of $3.47 billion, a PE ratio of 23.10 and a beta of 1.86. The company’s fifty day moving average price is $69.29 and its two-hundred day moving average price is $58.65. Tecnoglass has a 52-week low of $32.69 and a 52-week high of $80.51. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.43 and a quick ratio of 1.80.

Tecnoglass (NASDAQ:TGLS) last announced its quarterly earnings data on Thursday, November 7th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.11. Tecnoglass had a net margin of 17.82% and a return on equity of 28.30%. The business had revenue of $237.90 million for the quarter, compared to the consensus estimate of $240.19 million. During the same quarter last year, the company posted $0.98 earnings per share. Tecnoglass’s quarterly revenue was up 13.1% on a year-over-year basis.

Hedge Funds Weigh In On Tecnoglass

Hedge funds have recently bought and sold shares of the company. Amalgamated Bank acquired a new position in shares of Tecnoglass during the 2nd quarter worth $39,000. Signaturefd LLC boosted its holdings in Tecnoglass by 4,735.7% in the third quarter. Signaturefd LLC now owns 677 shares of the company’s stock valued at $46,000 after acquiring an additional 663 shares during the last quarter. X Square Capital LLC increased its position in shares of Tecnoglass by 5.7% during the second quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock worth $219,000 after buying an additional 237 shares during the period. PFG Investments LLC acquired a new stake in Tecnoglass during the 2nd quarter worth about $220,000. Finally, EntryPoint Capital LLC acquired a new position in Tecnoglass in the first quarter valued at approximately $227,000. 37.35% of the stock is owned by institutional investors.

Insider Activity at Tecnoglass

In other news, major shareholder Holding Corp Energy sold 1,432,120 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $73.02, for a total transaction of $104,573,402.40. Following the sale, the insider now owns 23,195,988 shares in the company, valued at $1,693,771,043.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Tecnoglass news, major shareholder Holding Corp Energy sold 1,432,120 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $73.02, for a total transaction of $104,573,402.40. Following the completion of the sale, the insider now owns 23,195,988 shares of the company’s stock, valued at $1,693,771,043.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Julio A. Torres sold 30,520 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $72.83, for a total value of $2,222,771.60. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

Tecnoglass Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were paid a dividend of $0.11 per share. 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 0.60%. Tecnoglass’s dividend payout ratio is 13.75%.

About Tecnoglass

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.