Tecnoglass Inc. (NASDAQ:TGLS – Get Free Report) shares rose 9.3% in trading on Thursday after reporting better-than-expected earnings results. The stock rose as high as $52.25 and was last at $52.03. 44,137 shares traded hands during trading, a decline of 89% from the average session volume of 392,724 shares. The stock previously closed at $47.60.
The company reported earnings per share of $0.86 for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The company posted revenue of $219.65 million for the quarter, compared to analyst estimates of $219.29 million. Tecnoglass had a net margin of 19.97% and a return on equity of 31.85%. The company’s quarterly revenue decreased by 2.5% year-over-year. During the same quarter last year, the company posted earnings per share of $1.12.
Tecnoglass announces dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were paid a dividend of $0.11. The ex-dividend date of this dividend was Friday, June 28th. This represents an annualized dividend of $0.44 and a dividend yield of 0.78%. Tecnoglass’s dividend payout ratio is 12.68%.
Wall Street analysts predict growth
Several equities analysts have commented on the company. Robert W. Baird increased his price target 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 price target on the stock in a report on Wednesday, June 26th. B. Riley reiterated a “buy” rating and issued a $60.00 price target (down from $65.00) on shares of Tecnoglass in a report on Friday, May 10th. Finally, Stifel Nicolaus increased his price target on Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a report on Friday. Two 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, the company has an average rating of “moderate buy” and an average price target of $58.33.
Check out our latest analysis on Tecnoglass
Institutional investors comment on Tecnoglass
A number of large investors have recently bought and sold shares of TGLS. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Tecnoglass by 19.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,826 shares of the company’s stock valued at $2,232,000 after buying an additional 8,074 shares in the last quarter. HBK Sorce Advisory LLC acquired a new stake in shares of Tecnoglass in the fourth quarter valued at about $234,000. Calamos Advisors LLC increased its position in shares of Tecnoglass by 3.3% in the fourth quarter. Calamos Advisors LLC now owns 105,491 shares of the company’s stock valued at $4,822,000 after buying an additional 3,343 shares during the same period. Cornerstone Investment Partners LLC acquired a new position in shares of Tecnoglass in the 4th quarter valued at $258,000. Finally, Cooke & Bieler LP increased its position in 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 acquiring an additional 342,451 shares during the period. 37.35% of the shares are currently owned by institutional investors and hedge funds.
Tecnoglass shares rise 3.9%
The company has a debt-to-equity ratio of 0.27, a price-to-earnings ratio of 1.72 and a price-to-earnings ratio of 2.33. The stock’s 50-day moving average is $49.81 and its 200-day moving average is $50.34. The company has a market cap of $2.64 billion, a P/E ratio of 16.16 and a beta of 1.85.
Company profile of Tecnoglass
(Get free report)
Tecnoglass Inc. manufactures, supplies and installs architectural glass, windows and related aluminum and vinyl products for the commercial and residential construction markets in Colombia, the United States, Panama and worldwide. The company offers low-emissivity, laminated/thermolaminated, thermoacoustic, tempered, screen printed, curved and digitally printed glass products.
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