Ternium (NYSE:TX - Get Free Report) had its price objective lowered by investment analysts at Scotiabank from $53.00 to $41.00 in a report issued on Thursday,Benzinga reports. The firm presently has a "sector outperform" rating on the basic materials company's stock. Scotiabank's target price suggests a potential upside of 34.87% from the stock's current price.
A number of other research analysts also recently issued reports on the stock. Bank of America reissued an "underperform" rating and set a $25.00 price objective on shares of Ternium in a research report on Monday, April 7th. The Goldman Sachs Group cut their price objective on Ternium from $39.00 to $35.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Ternium presently has a consensus rating of "Hold" and a consensus target price of $33.25.
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Ternium Stock Performance
Shares of TX traded down $0.28 during mid-day trading on Thursday, hitting $30.40. The stock had a trading volume of 79,728 shares, compared to its average volume of 213,555. The business has a fifty day moving average price of $29.68 and a 200-day moving average price of $29.57. The firm has a market cap of $6.09 billion, a P/E ratio of -17.08 and a beta of 1.48. Ternium has a 52 week low of $24.00 and a 52 week high of $37.98. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.00 and a quick ratio of 1.76.
Ternium (NYSE:TX - Get Free Report) last announced its earnings results on Tuesday, April 29th. The basic materials company reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.22. The business had revenue of $3.93 billion for the quarter, compared to analyst estimates of $4 billion. Ternium had a positive return on equity of 0.29% and a negative net margin of 2.07%. The company's quarterly revenue was down 17.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.84 EPS. On average, equities research analysts expect that Ternium will post 4.37 EPS for the current year.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of TX. Donald Smith & CO. Inc. lifted its holdings in shares of Ternium by 2.5% in the 1st quarter. Donald Smith & CO. Inc. now owns 3,099,790 shares of the basic materials company's stock worth $96,589,000 after buying an additional 76,987 shares during the period. Ninety One UK Ltd boosted its stake in shares of Ternium by 5.2% during the second quarter. Ninety One UK Ltd now owns 2,407,110 shares of the basic materials company's stock valued at $72,454,000 after purchasing an additional 118,595 shares in the last quarter. Ninety One North America Inc. raised its stake in Ternium by 23.4% in the second quarter. Ninety One North America Inc. now owns 1,023,049 shares of the basic materials company's stock worth $30,794,000 after buying an additional 194,174 shares in the last quarter. Cape Ann Asset Management Ltd boosted its position in Ternium by 15.0% during the 1st quarter. Cape Ann Asset Management Ltd now owns 871,685 shares of the basic materials company's stock valued at $27,162,000 after acquiring an additional 113,536 shares in the last quarter. Finally, Amundi raised its position in shares of Ternium by 3.4% in the 1st quarter. Amundi now owns 490,076 shares of the basic materials company's stock worth $14,550,000 after acquiring an additional 16,006 shares in the last quarter. Hedge funds and other institutional investors own 11.98% of the company's stock.
Ternium Company Profile
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Ternium SA, together with its subsidiaries, manufactures and distributes steel products in Mexico, Southern Region, Brazil, and internationally. It operates through three segments: Steel, Mining, and Usiminas. The Steel segment offers slabs, hot and cold rolled products, coated products, roll formed and tubular products, bars, billets, and other products.
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