Tecnoglass (NASDAQ:TGLS) Posts Earnings Results, Beats Expectations By $0.11 EPS

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

Tecnoglass Stock Performance

Shares of NASDAQ TGLS traded up $5.21 during trading on Friday, reaching $75.61. 209,717 shares of the company traded hands, compared to its average volume of 368,658. The firm’s fifty day simple moving average is $68.38 and its 200 day simple moving average is $58.17. The stock has a market cap of $3.55 billion, a P/E ratio of 22.45 and a beta of 1.86. Tecnoglass has a 12-month low of $31.58 and a 12-month high of $80.51. The company has a current ratio of 2.43, a quick ratio of 1.80 and a debt-to-equity ratio of 0.24.

Tecnoglass Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were paid a dividend of $0.11 per share. The ex-dividend date was 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 currently 14.10%.

Wall Street Analyst Weigh In

TGLS has been the subject of a number of recent analyst reports. Raymond James cut Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 22nd. B. Riley reaffirmed a “neutral” rating and set a $72.00 price target (up previously from $69.00) on shares of Tecnoglass in a research report on Thursday, October 10th. DA Davidson lifted their price target on Tecnoglass from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Sidoti cut Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price target for the company. in a research report on Tuesday, October 22nd. Finally, Robert W. Baird lifted their price target on Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price 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.