Tecnoglass Inc. (NASDAQ:TGLS) to Issue $0.11 Quarterly Dividend

Tecnoglass Inc. (NASDAQ:TGLS) announced a quarterly dividend on Thursday, September 5th, Wall Street Journal reports. Investors of record on Monday, September 30th will be given a dividend of 0.11 per share on Thursday, October 31st. This represents a $0.44 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Monday, September 30th.

Tecnoglass has increased its dividend by an average of 48.5% annually over the last three years. Tecnoglass has a dividend payout ratio of 10.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Tecnoglass to earn $4.00 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 11.0%.

Tecnoglass Stock Performance

NASDAQ:TGLS opened at $68.91 on Friday. The firm has a market capitalization of $3.24 billion, a PE ratio of 19.86 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 1 year low of $28.21 and a 1 year high of $69.79. The firm’s fifty day simple moving average is $59.45 and its 200 day simple moving average is $54.42.

Tecnoglass (NASDAQ:TGLS) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.03. The company had revenue of $219.65 million during the quarter, compared to analysts’ expectations of $219.29 million. Tecnoglass had a net margin of 17.97% and a return on equity of 28.12%. The business’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.12 EPS. On average, sell-side analysts anticipate that Tecnoglass will post 3.42 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TGLS. DA Davidson lifted their price objective on Tecnoglass from $60.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. B. Riley lowered shares of Tecnoglass from a “buy” rating to a “neutral” rating and upped their target price for the stock from $60.00 to $69.00 in a report on Monday, September 23rd. Stifel Nicolaus upped their price objective on shares of Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Sidoti raised Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 target price on the stock in a report on Wednesday, June 26th. Finally, Robert W. Baird boosted their price objective on Tecnoglass from $68.00 to $76.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 17th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $63.67.

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.