Tecnoglass (NASDAQ:TGLS - Get Free Report) posted its earnings results on Thursday. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.11, Briefing.com reports. Tecnoglass had a return on equity of 28.12% and a net margin of 17.97%. The company had revenue of $237.90 million during the quarter, compared to analyst estimates of $240.19 million. During the same period in the previous year, the company earned $0.98 EPS. The company's revenue for the quarter was up 13.1% compared to the same quarter last year. Tecnoglass updated its FY 2024 guidance to EPS.
Tecnoglass Stock Up 8.0 %
Shares of NASDAQ:TGLS traded up $5.60 during trading on Friday, hitting $76.00. 374,272 shares of the company were exchanged, compared to its average volume of 266,807. Tecnoglass has a fifty-two week low of $31.58 and a fifty-two week high of $80.51. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of 24.36 and a beta of 1.86. The company has a current ratio of 2.43, a quick ratio of 1.80 and a debt-to-equity ratio of 0.24. The firm has a fifty day moving average price of $68.66 and a two-hundred day moving average price of $58.33.
Tecnoglass Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.44 annualized dividend and a yield of 0.58%. Tecnoglass's dividend payout ratio (DPR) is presently 14.10%.
Analysts Set New Price Targets
TGLS has been the topic of several recent analyst reports. Robert W. Baird lifted their target price on Tecnoglass from $85.00 to $88.00 and gave the stock an "outperform" rating in a report on Friday. DA Davidson lifted their price target on shares of Tecnoglass from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Tuesday, August 13th. Raymond James cut shares of Tecnoglass from a "strong-buy" rating to a "market perform" rating in a report on Tuesday, October 22nd. Stifel Nicolaus raised 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. Finally, B. Riley reaffirmed a "neutral" rating and issued a $72.00 target price (up from $69.00) on shares of Tecnoglass in a research note on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $72.40.
Check Out Our Latest Stock Analysis on TGLS
About Tecnoglass
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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.
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