DA Davidson Brokers Raise Earnings Estimates for Tecnoglass

Tecnoglass Inc. (NASDAQ:TGLS) – DA Davidson increased their FY2024 earnings per share estimates for shares of Tecnoglass in a note issued to investors on Tuesday, November 12th. DA Davidson analyst B. Thielman now anticipates that the company will earn $3.42 per share for the year, up from their prior estimate of $3.32. DA Davidson has a “Buy” rating and a $90.00 price target on the stock. The consensus estimate for Tecnoglass’ current full-year earnings is $3.55 per share. DA Davidson also issued estimates for Tecnoglass’ Q4 2024 earnings at $0.98 EPS and FY2025 earnings at $4.06 EPS.

A number of other research firms also recently commented on TGLS. Raymond James downgraded Tecnoglass from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 22nd. Robert W. Baird increased their price target on Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Sidoti downgraded Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price target for the company. in a report on Tuesday, October 22nd. B. Riley reiterated a “neutral” rating and issued a $72.00 price target (up from $69.00) on shares of Tecnoglass in a report on Thursday, October 10th. Finally, Stifel Nicolaus increased 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. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $77.40.

Tecnoglass Trading Down 0.1 %

Shares of TGLS opened at $73.83 on Wednesday. The stock has a fifty day moving average of $69.57 and a two-hundred day moving average of $58.76. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.63 and a current ratio of 2.21. The company has a market capitalization of $3.47 billion, a PE ratio of 23.07 and a beta of 1.86. Tecnoglass has a fifty-two week low of $33.19 and a fifty-two week high of $80.51.

Tecnoglass (NASDAQ:TGLS) last issued its quarterly earnings results on Thursday, November 7th. The company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.11. The company had revenue of $237.90 million during the quarter, compared to the consensus estimate of $240.19 million. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. Tecnoglass’s revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 EPS.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. William Blair Investment Management LLC grew its position in Tecnoglass by 8.7% during the 2nd quarter. William Blair Investment Management LLC now owns 1,754,892 shares of the company’s stock worth $88,060,000 after purchasing an additional 140,112 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Tecnoglass by 12.3% during 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 in the last quarter. Clearbridge Investments LLC grew its position in Tecnoglass by 2.3% during the 1st quarter. Clearbridge Investments LLC now owns 389,876 shares of the company’s stock worth $20,285,000 after purchasing an additional 8,913 shares in the last quarter. Ensign Peak Advisors Inc grew its position in Tecnoglass by 219.7% during the 2nd quarter. Ensign Peak Advisors Inc now owns 218,189 shares of the company’s stock worth $10,949,000 after purchasing an additional 149,933 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Tecnoglass by 8.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 183,400 shares of the company’s stock worth $12,592,000 after purchasing an additional 13,803 shares in the last quarter. Institutional investors own 37.35% of the company’s stock.

Insider Activity at Tecnoglass

In related news, major shareholder Holding Corp Energy sold 1,432,120 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $73.02, for a total transaction of $104,573,402.40. Following the transaction, the insider now owns 23,195,988 shares in the company, valued at $1,693,771,043.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Tecnoglass news, Director Julio A. Torres sold 30,520 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $72.83, for a total value of $2,222,771.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $73.02, for a total value of $104,573,402.40. Following the completion of the transaction, the insider now directly owns 23,195,988 shares in the company, valued at $1,693,771,043.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Tecnoglass Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors 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 0.60%. Tecnoglass’s dividend payout ratio is presently 13.75%.

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.