FY2024 EPS Estimates for Tecnoglass Raised by DA Davidson

Tecnoglass Inc. (NASDAQ:TGLS - Free Report) - Equities researchers at DA Davidson boosted their FY2024 EPS estimates for shares of Tecnoglass in a note issued to investors on Tuesday, November 12th. DA Davidson analyst B. Thielman now forecasts that the company will post earnings of $3.42 per share for the year, up from their previous estimate of $3.32. DA Davidson currently has a "Buy" rating and a $90.00 price target on the stock. The consensus estimate for Tecnoglass' current full-year earnings is $3.55 per share. DA Davidson also issued estimates for Tecnoglass' Q4 2024 earnings at $0.98 EPS and FY2025 earnings at $4.06 EPS.

TGLS has been the topic of several other research reports. Robert W. Baird boosted their price objective on shares of Tecnoglass from $85.00 to $88.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Raymond James cut Tecnoglass from a "strong-buy" rating to a "market perform" rating in a research note on Tuesday, October 22nd. Stifel Nicolaus lifted their price objective on Tecnoglass from $50.00 to $59.00 and gave the stock a "hold" rating in a research note on Friday, August 9th. B. Riley reissued 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, Sidoti lowered shares of Tecnoglass from a "buy" rating to a "neutral" rating and set a $78.00 target price on the stock. in a report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Tecnoglass currently has an average rating of "Hold" and a consensus target price of $77.40.

Tecnoglass Trading Down 0.1 %

Shares of NASDAQ:TGLS traded down $0.11 during midday trading on Wednesday, hitting $73.83. 456,752 shares of the stock were exchanged, compared to its average volume of 372,440. The business's 50-day moving average price is $69.29 and its 200 day moving average price is $58.65. Tecnoglass has a 12 month low of $33.19 and a 12 month high of $80.51. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.63 and a current ratio of 2.21. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of 21.75 and a beta of 1.86.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.11. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. The company 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 business posted $0.98 EPS. Tecnoglass's revenue for the quarter was up 13.1% on a year-over-year basis.

Institutional Trading of Tecnoglass

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TGLS. BNP Paribas Financial Markets grew its stake in shares of Tecnoglass by 74.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 14,097 shares of the company's stock worth $968,000 after acquiring an additional 6,005 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Tecnoglass by 8.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 183,400 shares of the company's stock worth $12,592,000 after purchasing an additional 13,803 shares during the last quarter. Intech Investment Management LLC bought a new stake in Tecnoglass in the 3rd quarter worth about $509,000. Chesapeake Capital Corp IL bought a new position in shares of Tecnoglass during the 3rd quarter worth approximately $455,000. Finally, Impax Asset Management Group plc boosted its stake in shares of Tecnoglass by 65.0% in the 3rd quarter. Impax Asset Management Group plc now owns 165,000 shares of the company's stock worth $11,329,000 after buying an additional 65,000 shares during the last quarter. 37.35% of the stock is owned by institutional investors.

Insider Transactions at Tecnoglass

In related 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 transaction, the insider now directly owns 23,195,988 shares of the company's stock, valued at approximately $1,693,771,043.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Julio A. Torres sold 30,520 shares of Tecnoglass stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $72.83, for a total transaction of $2,222,771.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the company's stock in a transaction dated 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 in the company, valued at $1,693,771,043.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.25% of the company's stock.

Tecnoglass Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a dividend of $0.11 per share. The ex-dividend date was Monday, September 30th. This represents a $0.44 annualized dividend and a dividend yield of 0.60%. Tecnoglass's dividend payout ratio is currently 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.