Tecnoglass Inc. (TGLS) To Go Ex-Dividend on September 30th

Tecnoglass Inc. (NASDAQ:TGLS) declared a quarterly dividend on Thursday, September 5th, 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 increased its dividend payment by an average of 48.5% annually over the last three years. Tecnoglass has a dividend payout ratio of 10.7% indicating that its dividend is sufficiently covered by earnings. Research 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 Price Performance

NASDAQ TGLS opened at $58.99 on Friday. The business’s fifty day moving average is $55.36 and its 200 day moving average is $52.25. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.80 and a current ratio of 2.43. Tecnoglass has a fifty-two week low of $28.21 and a fifty-two week high of $63.13. The company has a market capitalization of $2.77 billion, a PE ratio of 17.00 and a beta of 1.86.

Tecnoglass (NASDAQ:TGLS) last issued its earnings results on Thursday, August 8th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.03. Tecnoglass had a return on equity of 28.12% and a net margin of 17.97%. The company had revenue of $219.65 million for the quarter, compared to the consensus estimate of $219.29 million. During the same quarter last year, the company earned $1.12 EPS. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. Sell-side analysts predict that Tecnoglass will post 3.42 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on TGLS shares. B. Riley reissued a “buy” rating and set a $60.00 price objective (down previously from $65.00) on shares of Tecnoglass in a report on Friday, May 10th. DA Davidson increased their price target on Tecnoglass from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Sidoti raised Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 price objective on the stock in a research note on Wednesday, June 26th. Stifel Nicolaus boosted their price target on shares of Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Finally, Robert W. Baird raised their price objective on Tecnoglass from $60.00 to $68.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.83.

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.