Tecnoglass Inc. (NASDAQ:TGLS) to Post Q3 2024 Earnings of $0.95 Per Share, B. Riley Forecasts

Tecnoglass Inc. (NASDAQ:TGLS) – Equities research analysts at B. Riley lifted their Q3 2024 earnings per share (EPS) estimates for Tecnoglass in a note issued to investors on Monday, September 23rd. B. Riley analyst A. Rygiel now anticipates that the company will post earnings of $0.95 per share for the quarter, up from their previous forecast of $0.93. B. Riley currently has a “Neutral” rating and a $69.00 price target on the stock. The consensus estimate for Tecnoglass’ current full-year earnings is $3.42 per share. B. Riley also issued estimates for Tecnoglass’ Q4 2024 earnings at $0.94 EPS and FY2024 earnings at $3.41 EPS.

Tecnoglass (NASDAQ:TGLS) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.03. Tecnoglass had a net margin of 17.97% and a return on equity of 28.12%. The firm had revenue of $219.65 million during the quarter, compared to the consensus estimate of $219.29 million. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.12 EPS.

Other equities analysts also recently issued research reports about the stock. Robert W. Baird lifted their price target on shares of Tecnoglass from $68.00 to $76.00 and gave the company an “outperform” rating in a report on Tuesday, September 17th. Sidoti raised shares of Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 target price for the company in a report on Wednesday, June 26th. Stifel Nicolaus raised their price target on Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a report on Friday, August 9th. Finally, DA Davidson upped their price objective on Tecnoglass from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tecnoglass presently has a consensus rating of “Moderate Buy” and an average target price of $63.67.

Tecnoglass Stock Down 0.2 %

NASDAQ TGLS opened at $66.76 on Wednesday. The stock’s 50-day moving average price is $58.53 and its 200-day moving average price is $54.07. The company has a market capitalization of $3.14 billion, a P/E ratio of 19.24 and a beta of 1.86. 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 has a 52 week low of $28.21 and a 52 week high of $69.79.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. William Blair Investment Management LLC raised its position in shares of Tecnoglass by 8.7% during the 2nd quarter. William Blair Investment Management LLC now owns 1,754,892 shares of the company’s stock valued at $88,060,000 after buying an additional 140,112 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Tecnoglass by 12.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 884,527 shares of the company’s stock worth $44,385,000 after purchasing an additional 96,602 shares during the period. Owls Nest Partners IA LLC increased its position in shares of Tecnoglass by 200.1% during the 4th quarter. Owls Nest Partners IA LLC now owns 577,765 shares of the company’s stock valued at $26,410,000 after purchasing an additional 385,265 shares during the last quarter. Wellington Management Group LLP raised its holdings in Tecnoglass by 5.6% during the 4th 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. Finally, Clearbridge Investments LLC lifted its position in Tecnoglass by 2.3% in the first quarter. Clearbridge Investments LLC now owns 389,876 shares of the company’s stock worth $20,285,000 after buying an additional 8,913 shares during the last quarter. 37.35% of the stock is currently owned by institutional investors.

Tecnoglass Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Monday, September 30th. Tecnoglass’s payout ratio is presently 12.68%.

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.