What is B. Riley’s Forecast for Tecnoglass FY2024 Earnings?

Tecnoglass Inc. (NASDAQ:TGLS) – Stock analysts at B. Riley lifted their FY2024 earnings per share (EPS) estimates for shares of Tecnoglass in a research report issued to clients and investors on Friday, November 8th. B. Riley analyst A. Rygiel now forecasts that the company will post earnings of $3.60 per share for the year, up from their previous forecast of $3.43. B. Riley has a “Neutral” rating and a $72.00 price target 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.

A number of other analysts also recently weighed in on TGLS. Sidoti downgraded Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 target price for the company. in a research report on Tuesday, October 22nd. Raymond James downgraded Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 22nd. DA Davidson upped 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. Robert W. Baird boosted their price target on Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Stifel Nicolaus boosted their price target on Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $72.40.

Tecnoglass Stock Performance

NASDAQ:TGLS opened at $79.37 on Monday. The stock has a fifty day moving average price of $69.01 and a 200-day moving average price of $58.52. The company has a market cap of $3.73 billion, a price-to-earnings ratio of 24.80 and a beta of 1.86. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.80 and a current ratio of 2.43. Tecnoglass has a fifty-two week low of $32.69 and a fifty-two week high of $80.51.

Tecnoglass (NASDAQ:TGLS) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.11. The business had revenue of $237.90 million during the quarter, compared to the consensus estimate of $240.19 million. Tecnoglass had a return on equity of 28.30% and a net margin of 17.82%. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 EPS.

Hedge Funds Weigh In On Tecnoglass

A number of institutional investors and hedge funds have recently bought and sold shares of TGLS. GSA Capital Partners LLP acquired a new position in Tecnoglass in the 1st quarter worth about $560,000. Susquehanna Fundamental Investments LLC acquired a new position in Tecnoglass in the 1st quarter worth about $893,000. William Blair Investment Management LLC increased its holdings in Tecnoglass by 232.8% in the 1st quarter. William Blair Investment Management LLC now owns 1,614,780 shares of the company’s stock worth $84,017,000 after purchasing an additional 1,129,603 shares in the last quarter. Prevail Innovative Wealth Advisors LLC acquired a new position in Tecnoglass in the 1st quarter worth about $2,074,000. Finally, Chesapeake Capital Corp IL acquired a new position in Tecnoglass in the 1st quarter worth about $509,000. Institutional investors and hedge funds own 37.35% of the company’s stock.

Tecnoglass Dividend Announcement

The firm also recently declared 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 of this dividend was Monday, September 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.55%. Tecnoglass’s dividend payout ratio (DPR) is currently 13.75%.

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.