What is B. Riley's Estimate for Tecnoglass FY2024 Earnings?

Tecnoglass Inc. (NASDAQ:TGLS - Free Report) - Equities researchers at B. Riley boosted their FY2024 EPS estimates for shares of Tecnoglass in a report issued on Friday, November 8th. B. Riley analyst A. Rygiel now expects that the company will earn $3.60 per share for the year, up from their prior estimate of $3.43. B. Riley has a "Neutral" rating and a $72.00 price objective on the stock. The consensus estimate for Tecnoglass' current full-year earnings is $3.52 per share. B. Riley also issued estimates for Tecnoglass' Q4 2024 earnings at $1.00 EPS.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.11. The business had revenue of $237.90 million for the quarter, compared to analyst estimates of $240.19 million. Tecnoglass had a net margin of 17.82% and a return on equity of 28.30%. Tecnoglass's revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.98 EPS.

TGLS has been the topic of several other reports. Stifel Nicolaus upped their price objective on shares of Tecnoglass from $50.00 to $59.00 and gave the company a "hold" rating in a report on Friday, August 9th. Robert W. Baird increased their price target on shares of Tecnoglass from $85.00 to $88.00 and gave the stock an "outperform" rating in a report on Friday. Raymond James downgraded shares of Tecnoglass from a "strong-buy" rating to a "market perform" rating in a report on Tuesday, October 22nd. DA Davidson increased their price target on shares of Tecnoglass from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Tuesday, August 13th. Finally, Sidoti downgraded shares of Tecnoglass from a "buy" rating to a "neutral" rating and set a $78.00 price target on the stock. in a report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $72.40.

Tecnoglass Stock Performance

Shares of TGLS stock traded up $3.37 during trading hours on Monday, hitting $79.37. The company's stock had a trading volume of 233,622 shares, compared to its average volume of 282,801. The company has a 50 day moving average of $69.01 and a 200 day moving average of $58.52. The stock has a market cap of $3.73 billion, a PE ratio of 24.80 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. Tecnoglass has a 12-month low of $32.69 and a 12-month high of $80.51.

Tecnoglass Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Monday, September 30th. Tecnoglass's payout ratio is 13.75%.

Hedge Funds Weigh In On Tecnoglass

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TGLS. Amalgamated Bank purchased a new position in Tecnoglass during the second quarter valued at $39,000. Signaturefd LLC raised its position in shares of 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 buying an additional 663 shares during the last quarter. X Square Capital LLC raised its position in shares of Tecnoglass by 5.7% in the second quarter. X Square Capital LLC now owns 4,363 shares of the company's stock valued at $219,000 after buying an additional 237 shares during the last quarter. PFG Investments LLC acquired a new stake in shares of Tecnoglass in the second quarter valued at about $220,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Tecnoglass in the first quarter valued at about $227,000. 37.35% of the stock is owned by hedge funds and other institutional investors.

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.