Tecnoglass (NASDAQ:TGLS) Announces Earnings Results

Tecnoglass (NASDAQ:TGLS – Get Rating) announced its quarterly earnings data on Wednesday. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.06, MarketWatch Earnings reports. Tecnoglass had a net margin of 15.58% and a return on equity of 38.76%. During the same period in the previous year, the firm earned $0.35 EPS.

Tecnoglass stock traded down $0.62 during midday trading on Friday, reaching $22.41. 276,643 shares of the company traded hands, compared to its average volume of 169,644. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.10 and a quick ratio of 1.56. Tecnoglass has a 12 month low of $11.82 and a 12 month high of $34.90. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 13.26 and a beta of 1.81. The business has a 50 day moving average of $23.95 and a two-hundred day moving average of $25.02.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 29th. Stockholders of record on Thursday, March 31st were issued a dividend of $0.065 per share. The ex-dividend date of this dividend was Wednesday, March 30th. This represents a $0.26 annualized dividend and a dividend yield of 1.16%. Tecnoglass’s payout ratio is 15.38%.

A number of equities research analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Tecnoglass in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Raymond James dropped their target price on shares of Tecnoglass from $35.00 to $30.00 and set a “strong-buy” rating on the stock in a research note on Friday, March 4th. B. Riley dropped their target price on shares of Tecnoglass from $37.00 to $32.00 in a research note on Thursday. Finally, Zacks Investment Research upgraded shares of Tecnoglass from a “hold” rating to a “strong-buy” rating and set a $26.00 target price on the stock in a research note on Saturday. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $32.00.

Institutional investors and hedge funds have recently made changes to their positions in the business. Morgan Stanley lifted its holdings in shares of Tecnoglass by 388.2% during the 1st quarter. Morgan Stanley now owns 5,038 shares of the company’s stock valued at $61,000 after buying an additional 4,006 shares during the period. Cubist Systematic Strategies LLC bought a new position in Tecnoglass in the third quarter valued at about $226,000. Bank of New York Mellon Corp purchased a new position in Tecnoglass in the third quarter worth about $239,000. Charles Schwab Investment Management Inc. purchased a new position in Tecnoglass in the fourth quarter worth about $249,000. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Tecnoglass during the 4th quarter valued at about $475,000. Institutional investors and hedge funds own 22.40% of the company’s stock.

Tecnoglass Company Profile (Get Rating)

Tecnoglass Inc, through its subsidiaries, designs, produces, markets, and installs architectural systems for the commercial and residential construction industries in Colombia, the United States, Panama, and internationally. The company offers low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.

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