Tecnoglass (NASDAQ:TGLS) Announces Quarterly Earnings Results

Tecnoglass (NASDAQ:TGLS - Get Free Report) released its quarterly earnings data on Thursday. The company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.01), Briefing.com reports. Tecnoglass had a return on equity of 38.92% and a net margin of 21.95%. The business had revenue of $192.09 million for the quarter, compared to analyst estimates of $191.04 million. During the same period in the prior year, the company posted $1.08 earnings per share. The company's revenue was down 5.1% compared to the same quarter last year. Tecnoglass updated its FY 2024 guidance to EPS.

Tecnoglass Trading Up 1.7 %

Shares of TGLS stock traded up $0.86 during trading hours on Friday, hitting $52.53. 342,122 shares of the company were exchanged, compared to its average volume of 353,361. Tecnoglass has a 1 year low of $28.21 and a 1 year high of $59.76. The firm has a fifty day moving average of $52.19 and a 200 day moving average of $44.88. The firm has a market cap of $2.47 billion, a PE ratio of 13.64 and a beta of 1.79. The company has a quick ratio of 1.60, a current ratio of 2.27 and a debt-to-equity ratio of 0.30.

Tecnoglass Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were issued a $0.11 dividend. This is a boost from Tecnoglass's previous quarterly dividend of $0.09. The ex-dividend date was Wednesday, March 27th. This represents a $0.44 annualized dividend and a yield of 0.84%. Tecnoglass's payout ratio is 11.43%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on TGLS shares. Robert W. Baird dropped their price objective on Tecnoglass from $65.00 to $64.00 and set an "outperform" rating on the stock in a report on Tuesday. Stifel Nicolaus cut shares of Tecnoglass from a "buy" rating to a "hold" rating and reduced their target price for the company from $48.00 to $45.00 in a report on Wednesday, February 14th. DA Davidson reissued a "buy" rating and set a $50.00 price target on shares of Tecnoglass in a report on Monday, March 4th. Sidoti cut Tecnoglass from a "buy" rating to a "neutral" rating and increased their price objective for the stock from $56.00 to $59.00 in a research report on Wednesday, May 1st. Finally, B. Riley reiterated a "buy" rating and issued a $60.00 target price (down from $65.00) on shares of Tecnoglass in a research note on Friday. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $53.83.

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.