Tecnoglass Inc. (NYSE:TGLS) Plans $0.15 Quarterly Dividend

Key Points

• Tecnoglass declared a $0.15 quarterly dividend, payable October 30 to shareholders of record September 30. The dividend implies a $0.60 annual payout and approximately a 1.6% yield.
• The dividend appears well covered, with a current payout ratio of 12.4%; analysts expect next year’s earnings to support a projected payout ratio of 17.2%. The company has raised its dividend for four consecutive years.
• Tecnoglass shares fell 3.6% to $38.26, despite the company beating quarterly EPS estimates and reporting 15.6% year-over-year revenue growth. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $63.33.

Tecnoglass Inc. (NYSE:TGLS - Get Free Report) declared a quarterly dividend on Thursday, September 10th. Stockholders of record on Wednesday, September 30th will be paid a dividend of 0.15 per share on Friday, October 30th. This represents a c) annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, September 30th.

Tecnoglass has increased its dividend payment by an average of 0.4%annually over the last three years and has increased its dividend every year for the last 4 years. Tecnoglass has a dividend payout ratio of 12.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Tecnoglass to earn $3.49 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 17.2%.

Tecnoglass Trading Down 3.6%

Shares of Tecnoglass stock traded down $1.43 during mid-day trading on Thursday, hitting $38.26. The stock had a trading volume of 455,864 shares, compared to its average volume of 351,438. The firm has a 50-day moving average of $42.96 and a two-hundred day moving average of $43.45. The company has a quick ratio of 1.17, a current ratio of 1.86 and a debt-to-equity ratio of 0.28. The firm has a market cap of $1.70 billion and a P/E ratio of 13.47. Tecnoglass has a 12-month low of $37.35 and a 12-month high of $73.95.

Tecnoglass (NYSE:TGLS - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. The business had revenue of $295.29 million during the quarter. Tecnoglass had a return on equity of 17.84% and a net margin of 12.35%.The company's quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.03 earnings per share. Sell-side analysts forecast that Tecnoglass will post 2.58 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TGLS shares. Weiss Ratings reissued a "hold (c-)" rating on shares of Tecnoglass in a report on Monday, August 17th. Zacks Research raised Tecnoglass from a "strong sell" rating to a "hold" rating in a research report on Friday, June 12th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Tecnoglass currently has a consensus rating of "Moderate Buy" and an average target price of $63.33.

Tecnoglass Company Profile

Tecnoglass, Inc is a vertically integrated designer, manufacturer and distributor of architectural glass, windows and aluminum products for the construction industry. The company's product portfolio includes tempered, laminated and insulated glass units, high‐performance aluminum windows, curtainwall systems and storefront solutions tailored to commercial, residential and institutional projects.

Established in 1994 as a family‐run enterprise in Barranquilla, Colombia, Tecnoglass has grown through significant investments in automated production lines, research and development, and international quality certifications.

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