Tecnoglass Inc. Announces Quarterly Dividend of $0.11 (NASDAQ:TGLS)

Tecnoglass Inc. (NASDAQ:TGLS) announced a quarterly dividend on Friday, September 6th, Wall Street Journal reports. Shareholders of record on Monday, September 30th will be given a dividend of 0.11 per share on Thursday, October 31st. This represents a $0.44 annualized dividend and a yield of 0.75%. The ex-dividend date is Monday, September 30th.

Tecnoglass has raised its dividend by an average of 48.5% per year over the last three years. Tecnoglass has a dividend payout ratio of 10.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Tecnoglass to earn $4.00 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 11.0%.

Tecnoglass Trading Down 1.7 %

Shares of TGLS stock traded down $1.03 during mid-day trading on Friday, reaching $59.05. The stock had a trading volume of 237,783 shares, compared to its average volume of 388,978. The stock’s 50-day moving average price is $55.19 and its two-hundred day moving average price is $52.14. Tecnoglass has a 52-week low of $28.21 and a 52-week high of $63.13. The firm has a market capitalization of $2.78 billion, a PE ratio of 17.32 and a beta of 1.86. The company has a current ratio of 2.43, a quick ratio of 1.80 and a debt-to-equity ratio of 0.24.

Tecnoglass (NASDAQ:TGLS) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $219.29 million. During the same quarter in the previous year, the company earned $1.12 earnings per share. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. Equities analysts expect that Tecnoglass will post 3.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. DA Davidson boosted their price target on shares of Tecnoglass from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Stifel Nicolaus increased 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, August 9th. Sidoti upgraded shares of Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 price target on the stock in a research report on Wednesday, June 26th. B. Riley reissued a “buy” rating and issued a $60.00 price objective (down from $65.00) on shares of Tecnoglass in a research note on Friday, May 10th. Finally, Robert W. Baird increased their price objective 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. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Tecnoglass presently has a consensus rating of “Moderate Buy” and an average price target of $60.83.

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.