FY2024 EPS Estimates for Tecnoglass Raised by DA Davidson

Tecnoglass Inc. (NASDAQ:TGLS) – Research analysts at DA Davidson increased their FY2024 earnings per share (EPS) estimates for Tecnoglass in a report released on Tuesday, November 12th. DA Davidson analyst B. Thielman now forecasts that the company will post earnings per share of $3.42 for the year, up from their prior estimate of $3.32. DA Davidson currently has a “Buy” rating and a $90.00 price target on the stock. The consensus estimate for Tecnoglass’ current full-year earnings is $3.55 per share. DA Davidson also issued estimates for Tecnoglass’ Q4 2024 earnings at $0.98 EPS and FY2025 earnings at $4.06 EPS.

Tecnoglass (NASDAQ:TGLS) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.11. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. The firm had revenue of $237.90 million for the quarter, compared to analysts’ expectations of $240.19 million. During the same quarter last year, the firm posted $0.98 EPS. The company’s revenue was up 13.1% compared to the same quarter last year.

A number of other equities analysts have also commented on TGLS. Robert W. Baird increased their price target on shares of Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Sidoti cut Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 target price on the stock. in a research note on Tuesday, October 22nd. Stifel Nicolaus raised their price target on Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a research report on Friday, August 9th. B. Riley reiterated a “neutral” rating and issued a $72.00 price objective (up from $69.00) on shares of Tecnoglass in a report on Thursday, October 10th. Finally, Raymond James lowered Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $77.40.

Tecnoglass Trading Up 0.1 %

Shares of TGLS opened at $73.94 on Wednesday. Tecnoglass has a 1-year low of $33.19 and a 1-year high of $80.51. The company has a market capitalization of $3.47 billion, a P/E ratio of 23.11 and a beta of 1.86. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.21 and a quick ratio of 1.63. The firm’s 50 day simple moving average is $69.57 and its 200 day simple moving average is $58.76.

Hedge Funds Weigh In On Tecnoglass

A number of hedge funds have recently modified their holdings of TGLS. Crossmark Global Holdings Inc. grew its stake in shares of Tecnoglass by 3.2% in the second quarter. Crossmark Global Holdings Inc. now owns 7,066 shares of the company’s stock worth $355,000 after purchasing an additional 220 shares during the last quarter. X Square Capital LLC grew its position in shares of Tecnoglass by 5.7% in the 2nd quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock worth $219,000 after buying an additional 237 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its stake in shares of Tecnoglass by 3.1% during the third quarter. Nations Financial Group Inc. IA ADV now owns 9,596 shares of the company’s stock valued at $659,000 after buying an additional 287 shares during the period. SummerHaven Investment Management LLC raised its holdings in shares of Tecnoglass by 2.2% during the second quarter. SummerHaven Investment Management LLC now owns 13,681 shares of the company’s stock valued at $687,000 after acquiring an additional 292 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in Tecnoglass by 4,735.7% in the third quarter. Signaturefd LLC now owns 677 shares of the company’s stock worth $46,000 after acquiring an additional 663 shares during the period. Hedge funds and other institutional investors own 37.35% of the company’s stock.

Insider Activity

In other news, Director Julio A. Torres sold 30,520 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $72.83, for a total transaction of $2,222,771.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $73.02, for a total transaction of $104,573,402.40. Following the completion of the transaction, the insider now owns 23,195,988 shares in the company, valued at $1,693,771,043.76. This represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Tecnoglass Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.44 annualized dividend and a yield of 0.60%. Tecnoglass’s payout ratio is 13.75%.

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.