Brokers Offer Predictions for Tecnoglass Inc.’s Q3 2024 Earnings (NASDAQ:TGLS)

Tecnoglass Inc. (NASDAQ:TGLS) – Stock analysts at DA Davidson issued their Q3 2024 earnings per share estimates for Tecnoglass in a report issued on Tuesday, August 13th. DA Davidson analyst B. Thielman expects that the company will earn $0.95 per share for the quarter. DA Davidson has a “Buy” rating and a $65.00 price objective on the stock. The consensus estimate for Tecnoglass’ current full-year earnings is $3.37 per share.

Tecnoglass (NASDAQ:TGLS) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.03. The company had revenue of $219.65 million during the quarter, compared to analyst estimates of $219.29 million. Tecnoglass had a return on equity of 31.85% and a net margin of 19.97%. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.12 EPS.

Several other research analysts also recently commented on the stock. Robert W. Baird raised their price objective on shares of Tecnoglass from $60.00 to $68.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Sidoti upgraded Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 price target for the company in a research report on Wednesday, June 26th. Stifel Nicolaus increased their price objective on 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 “buy” rating and set a $60.00 target price (down previously from $65.00) on shares of Tecnoglass in a report on Friday, May 10th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Tecnoglass currently has an average rating of “Moderate Buy” and a consensus target price of $60.83.

Tecnoglass Price Performance

TGLS opened at $59.96 on Wednesday. The firm has a 50-day moving average price of $50.20 and a 200-day moving average price of $50.61. Tecnoglass has a twelve month low of $28.21 and a twelve month high of $61.03. The company has a quick ratio of 1.72, a current ratio of 2.33 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 17.28 and a beta of 1.85.

Institutional Trading of Tecnoglass

Large investors have recently modified their holdings of the business. Amalgamated Bank purchased a new stake in Tecnoglass in the second quarter valued at approximately $39,000. Handelsbanken Fonder AB purchased a new stake in shares of Tecnoglass during the 4th quarter valued at $201,000. X Square Capital LLC lifted its holdings in shares of Tecnoglass by 5.7% during the 2nd quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock worth $219,000 after acquiring an additional 237 shares during the last quarter. PFG Investments LLC purchased a new position in Tecnoglass in the second quarter worth $220,000. Finally, EntryPoint Capital LLC bought a new position in Tecnoglass in the first quarter valued at $227,000. Institutional investors own 37.35% of the company’s stock.

Tecnoglass Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were issued a $0.11 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.44 annualized dividend and a dividend yield of 0.73%. Tecnoglass’s payout ratio is currently 12.68%.

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.