Tecnoglass (NASDAQ:TGLS) Issues Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Tecnoglass (NASDAQ:TGLS) posted its earnings results on Thursday. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05, Briefing.com reports. 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 19.97% and a return on equity of 31.85%. Tecnoglass’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 earnings per share.

Tecnoglass Stock Up 3.9 %

Shares of NASDAQ:TGLS traded up $2.09 during midday trading on Friday, reaching $56.10. 654,327 shares of the company were exchanged, compared to its average volume of 398,549. The firm has a market cap of $2.64 billion, a PE ratio of 16.17 and a beta of 1.85. Tecnoglass has a fifty-two week low of $28.21 and a fifty-two week high of $59.76. The stock has a fifty day simple moving average of $49.81 and a two-hundred day simple moving average of $50.34. The company has a quick ratio of 1.72, a current ratio of 2.33 and a debt-to-equity ratio of 0.27.

Tecnoglass Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend was Friday, June 28th. Tecnoglass’s payout ratio is currently 12.68%.

Analyst Ratings Changes

TGLS has been the subject of several research reports. Stifel Nicolaus raised their price objective on shares of Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a research report on Friday. Robert W. Baird increased their price objective on Tecnoglass from $60.00 to $68.00 and gave the company an “outperform” rating in a research report on Friday. Sidoti upgraded Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 target price for the company in a research report on Wednesday, June 26th. Finally, B. Riley reiterated a “buy” rating and issued a $60.00 price target (down previously from $65.00) on shares of Tecnoglass in a report on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Tecnoglass has a consensus rating of “Moderate Buy” and a consensus price target of $58.33.

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.