Tecnoglass Inc. Forecasted to Earn FY2024 Earnings of $3.43 Per Share (NASDAQ:TGLS)

Tecnoglass Inc. (NASDAQ:TGLS) – Equities research analysts at B. Riley increased their FY2024 earnings per share (EPS) estimates for Tecnoglass in a research note issued on Thursday, October 10th. B. Riley analyst A. Rygiel now forecasts that the company will post earnings of $3.43 per share for the year, up from their previous estimate of $3.41. 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 $3.44 per share. B. Riley also issued estimates for Tecnoglass’ Q4 2024 earnings at $0.96 EPS and FY2025 earnings at $4.20 EPS.

Tecnoglass (NASDAQ:TGLS) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.03. The company had revenue of $219.65 million for the quarter, compared to analyst estimates of $219.29 million. Tecnoglass had a return on equity of 28.12% and a net margin of 17.97%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.12 earnings per share.

A number of other brokerages have also commented on TGLS. Robert W. Baird boosted their price target on Tecnoglass from $68.00 to $76.00 and gave the company an “outperform” rating in a report on Tuesday, September 17th. Sidoti raised Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 target price on the stock in a research report on Wednesday, June 26th. DA Davidson lifted their target price on Tecnoglass from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Finally, Stifel Nicolaus lifted their target price on Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $64.17.

Tecnoglass Stock Performance

Shares of Tecnoglass stock opened at $75.79 on Monday. The firm has a market cap of $3.56 billion, a price-to-earnings ratio of 21.84 and a beta of 1.86. The stock’s 50-day moving average is $63.52 and its 200-day moving average is $56.18. Tecnoglass has a one year low of $28.21 and a one year high of $76.25. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.43 and a quick ratio of 1.80.

Institutional Investors Weigh In On Tecnoglass

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank bought a new position in shares of Tecnoglass in the 2nd quarter valued at $39,000. X Square Capital LLC boosted its position 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 purchasing an additional 237 shares in the last quarter. PFG Investments LLC bought a new position in shares of Tecnoglass during the 2nd quarter worth about $220,000. EntryPoint Capital LLC bought a new position in shares of Tecnoglass during the 1st quarter worth about $227,000. Finally, Tidal Investments LLC bought a new position in shares of Tecnoglass during the 1st quarter worth about $245,000. 37.35% of the stock is currently owned by institutional investors.

Tecnoglass Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Monday, September 30th. Tecnoglass’s payout ratio is 12.68%.

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.