Tecnoglass Inc. Forecasted to Earn Q3 2024 Earnings of $0.95 Per Share (NASDAQ:TGLS)

Tecnoglass Inc. (NASDAQ:TGLS) – Investment analysts at DA Davidson issued their Q3 2024 EPS estimates for Tecnoglass in a note issued to investors on Tuesday, August 13th. DA Davidson analyst B. Thielman expects that the company will earn $0.95 per share for the quarter. DA Davidson currently has a “Buy” rating and a $65.00 target price on the stock. The consensus estimate for Tecnoglass’ current full-year earnings is $3.37 per share.

Several other analysts have also recently issued reports on TGLS. Stifel Nicolaus upped their target price on Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a report on Friday, August 9th. Sidoti raised shares of Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Wednesday, June 26th. Robert W. Baird lifted their target price on shares of Tecnoglass from $60.00 to $68.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Finally, B. Riley reissued a “buy” rating and issued a $60.00 price target (down previously from $65.00) on shares of Tecnoglass in a research note on Friday, May 10th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Tecnoglass currently has a consensus rating of “Moderate Buy” and an average price target of $60.83.

Tecnoglass Price Performance

NASDAQ:TGLS opened at $59.96 on Wednesday. Tecnoglass has a one year low of $28.21 and a one year high of $61.03. The stock has a market cap of $2.82 billion, a PE ratio of 17.28 and a beta of 1.85. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.72 and a current ratio of 2.33. The stock has a 50 day moving average price of $50.20 and a 200 day moving average price of $50.61.

Tecnoglass (NASDAQ:TGLS) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.86 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 the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.12 EPS.

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 given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date was Friday, June 28th. Tecnoglass’s dividend payout ratio is presently 12.68%.

Hedge Funds Weigh In On Tecnoglass

Several large investors have recently made changes to their positions in TGLS. William Blair Investment Management LLC increased its holdings in Tecnoglass by 232.8% in the 1st quarter. William Blair Investment Management LLC now owns 1,614,780 shares of the company’s stock valued at $84,017,000 after purchasing an additional 1,129,603 shares during the last quarter. Owls Nest Partners IA LLC raised its holdings in shares of Tecnoglass by 200.1% in the 4th quarter. Owls Nest Partners IA LLC now owns 577,765 shares of the company’s stock valued at $26,410,000 after buying an additional 385,265 shares during the period. Cooke & Bieler LP raised its holdings in shares of Tecnoglass by 35.8% in the 4th quarter. Cooke & Bieler LP now owns 1,300,179 shares of the company’s stock valued at $59,431,000 after buying an additional 342,451 shares during the period. Victory Capital Management Inc. lifted its stake in Tecnoglass by 58.8% during the 4th quarter. Victory Capital Management Inc. now owns 815,756 shares of the company’s stock worth $37,288,000 after acquiring an additional 302,163 shares in the last quarter. Finally, Ensign Peak Advisors Inc boosted its holdings in Tecnoglass by 219.7% during the 2nd quarter. Ensign Peak Advisors Inc now owns 218,189 shares of the company’s stock valued at $10,949,000 after acquiring an additional 149,933 shares during the period. 37.35% of the stock is currently owned by institutional investors and hedge funds.

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.