Tecnoglass Inc. to Post Q3 2024 Earnings of $0.95 Per Share, B. Riley Forecasts (NASDAQ:TGLS)

Tecnoglass Inc. (NASDAQ:TGLS) – Stock analysts at B. Riley boosted their Q3 2024 earnings per share estimates for Tecnoglass in a note issued to investors on Monday, September 23rd. B. Riley analyst A. Rygiel now expects that the company will earn $0.95 per share for the quarter, up from their previous estimate 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 weighed in on TGLS. Sidoti raised Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 price target for the company in a research report on Wednesday, June 26th. Stifel Nicolaus boosted their target price on shares of Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a research note on Friday, August 9th. DA Davidson raised their price target on shares of Tecnoglass from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Finally, Robert W. Baird boosted their price objective on shares of Tecnoglass from $68.00 to $76.00 and gave the company an “outperform” rating in a research report on Tuesday, September 17th. Three 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.67.

Tecnoglass Trading Up 1.5 %

Shares of Tecnoglass stock opened at $67.67 on Wednesday. Tecnoglass has a 1 year low of $28.21 and a 1 year high of $69.79. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.43 and a quick ratio of 1.80. The business has a 50 day moving average price of $59.10 and a 200 day moving average price of $54.26. The company has a market capitalization of $3.18 billion, a P/E ratio of 19.50 and a beta of 1.86.

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

Hedge Funds Weigh In On Tecnoglass

A number of hedge funds have recently made changes to their positions in TGLS. Crossmark Global Holdings Inc. raised its position in shares of Tecnoglass by 3.2% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 7,066 shares of the company’s stock worth $355,000 after buying an additional 220 shares during the period. X Square Capital LLC raised its holdings 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 purchasing an additional 237 shares during the period. SummerHaven Investment Management LLC lifted its stake in shares of Tecnoglass by 2.2% in the 2nd quarter. SummerHaven Investment Management LLC now owns 13,681 shares of the company’s stock valued at $687,000 after purchasing an additional 292 shares in the last quarter. Amalgamated Bank purchased a new stake in shares of Tecnoglass during the 2nd quarter worth about $39,000. Finally, Linden Thomas Advisory Services LLC increased its position in Tecnoglass by 10.0% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 10,150 shares of the company’s stock worth $509,000 after purchasing an additional 920 shares in the last quarter. Institutional investors and hedge funds own 37.35% of the company’s stock.

Tecnoglass Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.65%. The ex-dividend date is Monday, September 30th. Tecnoglass’s dividend payout ratio (DPR) is 12.68%.

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.