Tecnoglass (NASDAQ:TGLS) Releases Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Tecnoglass (NASDAQ:TGLS) announced its quarterly earnings results on Thursday. The company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.11, Briefing.com reports. Tecnoglass had a return on equity of 28.12% and a net margin of 17.97%. The firm had revenue of $237.90 million during the quarter, compared to analyst estimates of $240.19 million. During the same quarter in the previous year, the business earned $0.98 EPS. Tecnoglass’s revenue for the quarter was up 13.1% compared to the same quarter last year. Tecnoglass updated its FY 2024 guidance to EPS.

Tecnoglass Price Performance

Shares of Tecnoglass stock traded up $5.21 on Friday, hitting $75.61. 209,717 shares of the company were exchanged, compared to its average volume of 368,658. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of 22.45 and a beta of 1.86. The company has a 50-day moving average price of $68.38 and a 200 day moving average price of $58.17. Tecnoglass has a 1-year low of $31.58 and a 1-year high of $80.51. The company has a quick ratio of 1.80, a current ratio of 2.43 and a debt-to-equity ratio of 0.24.

Tecnoglass Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Monday, September 30th. Tecnoglass’s dividend payout ratio is currently 14.10%.

Wall Street Analysts Forecast Growth

TGLS has been the topic of several research analyst reports. Stifel Nicolaus lifted their price objective on Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a report on Friday, August 9th. DA Davidson lifted their price objective on Tecnoglass from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Raymond James cut Tecnoglass from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 22nd. B. Riley reiterated a “neutral” rating and issued a $72.00 price objective (up from $69.00) on shares of Tecnoglass in a report on Thursday, October 10th. Finally, Robert W. Baird lifted their price objective on Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Tecnoglass currently has a consensus rating of “Hold” and a consensus price target of $72.40.

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.