Wall Street brokerages forecast that Tecnoglass Inc (NASDAQ:TGLS) will post $102.95 million in sales for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Tecnoglass’ earnings, with estimates ranging from $100.00 million to $105.00 million. Tecnoglass posted sales of $96.99 million in the same quarter last year, which would indicate a positive year over year growth rate of 6.1%. The company is scheduled to announce its next earnings report on Wednesday, November 6th.
On average, analysts expect that Tecnoglass will report full-year sales of $426.19 million for the current financial year, with estimates ranging from $423.00 million to $430.80 million. For the next fiscal year, analysts anticipate that the firm will post sales of $455.23 million, with estimates ranging from $437.50 million to $465.83 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Tecnoglass.
Tecnoglass (NASDAQ:TGLS) last released its quarterly earnings results on Friday, August 9th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.02. The firm had revenue of $113.88 million during the quarter, compared to analyst estimates of $97.53 million. Tecnoglass had a net margin of 4.04% and a return on equity of 22.84%.
Several research firms have recently weighed in on TGLS. BidaskClub upgraded shares of Tecnoglass from a “sell” rating to a “hold” rating in a research note on Wednesday. Goldman Sachs Group began coverage on shares of Tecnoglass in a research note on Thursday, May 9th. They issued a “buy” rating for the company. Raymond James upgraded shares of Tecnoglass from an “outperform” rating to a “strong-buy” rating and set a $10.00 price objective for the company in a research note on Monday, July 1st. Zacks Investment Research upgraded shares of Tecnoglass from a “hold” rating to a “buy” rating and set a $8.25 price objective for the company in a research note on Tuesday. Finally, Robert W. Baird set a $11.00 price objective on shares of Tecnoglass and gave the company a “buy” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Tecnoglass currently has a consensus rating of “Buy” and a consensus target price of $10.71.
Shares of NASDAQ:TGLS traded down $0.12 during mid-day trading on Thursday, hitting $7.33. The company had a trading volume of 67,053 shares, compared to its average volume of 67,506. The firm has a fifty day moving average price of $7.15 and a 200 day moving average price of $7.37. The company has a market capitalization of $337.12 million, a PE ratio of 8.62 and a beta of 0.99. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.50 and a quick ratio of 1.84. Tecnoglass has a one year low of $6.08 and a one year high of $10.29.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Wednesday, July 31st will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 7.64%. The ex-dividend date is Tuesday, July 30th. Tecnoglass’s payout ratio is currently 65.88%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its position in Tecnoglass by 8,803.0% in the 4th quarter. BlackRock Inc. now owns 53,863 shares of the company’s stock valued at $435,000 after purchasing an additional 53,258 shares during the period. Formula Growth Ltd. acquired a new stake in Tecnoglass in the 1st quarter valued at $2,912,000. National Investment Services Inc. WI grew its position in Tecnoglass by 72.6% in the 2nd quarter. National Investment Services Inc. WI now owns 104,936 shares of the company’s stock valued at $681,000 after purchasing an additional 44,140 shares during the period. Pinnacle Associates Ltd. acquired a new stake in Tecnoglass in the 1st quarter valued at $256,000. Finally, Monarch Partners Asset Management LLC acquired a new stake in Tecnoglass in the 1st quarter valued at $746,000. 13.97% of the stock is owned by institutional investors and hedge funds.
Tecnoglass Company Profile
Tecnoglass Inc, through its subsidiaries, manufactures, supplies, and installs architectural glass, windows, and associated aluminum products for the commercial and residential construction industries in North, Central, and South America. The company offers low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.
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