Q3 2024 EPS Estimates for Tecnoglass Inc. Lifted by B. Riley (NASDAQ:TGLS)

Tecnoglass Inc. (NASDAQ:TGLS) – B. Riley increased their Q3 2024 EPS estimates for shares of Tecnoglass in a report released on Monday, September 23rd. B. Riley analyst A. Rygiel now forecasts that the company will post earnings per share of $0.95 for the quarter, up from their previous forecast of $0.93. B. Riley has a “Neutral” rating and a $69.00 price objective on the stock. The consensus estimate for Tecnoglass’ current full-year earnings is $3.42 per share. B. Riley also issued estimates for Tecnoglass’ Q4 2024 earnings at $0.94 EPS and FY2024 earnings at $3.41 EPS.

Several other equities analysts also recently issued reports on the stock. Sidoti upgraded shares of Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Wednesday, June 26th. Stifel Nicolaus upped 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. DA Davidson lifted their price target on Tecnoglass from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Finally, Robert W. Baird increased their price objective on Tecnoglass from $68.00 to $76.00 and gave the company an “outperform” rating in a report on Tuesday, September 17th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Tecnoglass has a consensus rating of “Moderate Buy” and an average target price of $63.67.

Tecnoglass Trading Down 0.0 %

NASDAQ:TGLS opened at $66.75 on Wednesday. Tecnoglass has a 1 year low of $28.21 and a 1 year high of $69.79. The stock has a market cap of $3.14 billion, a P/E ratio of 19.24 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. The stock has a 50-day simple moving average of $58.80 and a 200-day simple moving average of $54.16.

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

Tecnoglass Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.44 dividend on an annualized basis and a yield of 0.66%. Tecnoglass’s payout ratio is currently 12.68%.

Hedge Funds Weigh In On Tecnoglass

Large investors have recently modified their holdings of the business. William Blair Investment Management LLC raised its position in Tecnoglass by 232.8% in the first quarter. William Blair Investment Management LLC now owns 1,614,780 shares of the company’s stock worth $84,017,000 after acquiring an additional 1,129,603 shares in the last quarter. Owls Nest Partners IA LLC increased its holdings in shares of Tecnoglass by 200.1% in the 4th quarter. Owls Nest Partners IA LLC now owns 577,765 shares of the company’s stock valued at $26,410,000 after purchasing an additional 385,265 shares in the last quarter. Ensign Peak Advisors Inc boosted its holdings in Tecnoglass by 219.7% during the second quarter. Ensign Peak Advisors Inc now owns 218,189 shares of the company’s stock worth $10,949,000 after buying an additional 149,933 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Tecnoglass by 12.3% during the second quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company’s stock worth $44,385,000 after buying an additional 96,602 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in Tecnoglass during the second quarter worth about $3,929,000. 37.35% of the stock is owned by hedge funds and other institutional investors.

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.