Equities Analysts Set Expectations for Tecnoglass Inc.’s FY2024 Earnings (NASDAQ:TGLS)

Tecnoglass Inc. (NASDAQ:TGLS) – Equities research analysts at B. Riley lifted their FY2024 earnings estimates for shares of Tecnoglass in a research report issued to clients and investors on Thursday, October 10th. B. Riley analyst A. Rygiel now anticipates that the company will post earnings per share of $3.43 for the year, up from their prior forecast of $3.41. B. Riley has a “Neutral” rating and a $72.00 price objective on the stock. The consensus estimate for Tecnoglass’ current full-year earnings is $3.44 per share. B. Riley also issued estimates for Tecnoglass’ Q4 2024 earnings at $0.96 EPS and FY2025 earnings at $4.20 EPS.

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, topping analysts’ consensus estimates of $0.83 by $0.03. The business had revenue of $219.65 million for the quarter, compared to the consensus estimate of $219.29 million. Tecnoglass had a return on equity of 28.12% and a net margin of 17.97%. The company’s revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 EPS.

Other analysts have also recently issued reports about the stock. DA Davidson raised their price target on shares of Tecnoglass from $60.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. 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 research report on Wednesday, June 26th. Stifel Nicolaus lifted their target price on shares of Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Finally, Robert W. Baird upped their price target on shares of Tecnoglass from $68.00 to $76.00 and gave the company an “outperform” rating in a research note on Tuesday, September 17th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $64.17.

Tecnoglass Stock Up 0.4 %

Shares of TGLS opened at $76.12 on Monday. The business has a fifty day moving average of $63.52 and a 200 day moving average of $56.18. Tecnoglass has a 52-week low of $28.21 and a 52-week high of $77.02. The company has a quick ratio of 1.80, a current ratio of 2.43 and a debt-to-equity ratio of 0.24. The company has a market cap of $3.58 billion, a PE ratio of 21.76 and a beta of 1.86.

Hedge Funds Weigh In On Tecnoglass

Several large investors have recently made changes to their positions in TGLS. Wellington Management Group LLP grew its position in Tecnoglass by 5.6% during the fourth quarter. Wellington Management Group LLP now owns 421,086 shares of the company’s stock valued at $19,248,000 after buying an additional 22,169 shares during the period. Capstone Investment Advisors LLC boosted its stake in shares of Tecnoglass by 57.5% during the 1st quarter. Capstone Investment Advisors LLC now owns 47,368 shares of the company’s stock worth $2,465,000 after acquiring an additional 17,292 shares in the last quarter. Prevail Innovative Wealth Advisors LLC acquired a new stake in shares of Tecnoglass during the 1st quarter valued at about $2,074,000. Commonwealth Equity Services LLC increased its stake in shares of Tecnoglass by 295.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 20,630 shares of the company’s stock valued at $1,073,000 after purchasing an additional 15,414 shares in the last quarter. Finally, Rhumbline Advisers acquired a new position in Tecnoglass in the 2nd quarter worth about $1,468,000. 37.35% of the stock is currently owned by institutional investors and hedge funds.

Tecnoglass Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.11 per share. The ex-dividend date is Monday, September 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.58%. Tecnoglass’s payout ratio is 12.68%.

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.