Ternium (NYSE:TX) Price Target Lowered to $40.00 at Scotiabank

Key Points

• Scotiabank has reduced its price target for Ternium from $41.00 to $40.00, maintaining a "sector outperform" rating, which indicates a potential upside of 19.46% from the current stock price.
• In recent analyst assessments, Ternium received a mix of ratings: while some analysts maintain a "Buy" rating, others have downgraded it to "Sell" or "Hold," resulting in a consensus rating of "Hold" with a price target of $32.67.
• Despite a decline in revenue, Ternium reported earnings of $1.28 per share, surpassing estimates, though it reflects a decrease of 12.6% year over year.

Ternium (NYSE:TX - Get Free Report) had its target price cut by analysts at Scotiabank from $41.00 to $40.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "sector outperform" rating on the basic materials company's stock. Scotiabank's price objective suggests a potential upside of 19.46% from the stock's current price.

Several other equities analysts have also recently commented on the stock. Wells Fargo & Company upgraded shares of Ternium to a "strong sell" rating in a report on Thursday, August 14th. Morgan Stanley lowered Ternium from an "overweight" rating to an "equal weight" rating and set a $34.00 target price on the stock. in a research report on Monday, July 21st. Finally, Wall Street Zen upgraded Ternium from a "hold" rating to a "buy" rating in a report on Saturday. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Ternium presently has a consensus rating of "Hold" and a consensus price target of $32.67.

Ternium Trading Up 1.0%

Shares of NYSE TX opened at $33.49 on Wednesday. The company has a current ratio of 2.68, a quick ratio of 1.59 and a debt-to-equity ratio of 0.12. Ternium has a one year low of $24.00 and a one year high of $37.98. The business has a 50-day moving average price of $31.88 and a two-hundred day moving average price of $30.18. The firm has a market capitalization of $6.71 billion, a PE ratio of 10.99 and a beta of 1.47.

Ternium (NYSE:TX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The basic materials company reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.62. Ternium had a net margin of 3.66% and a return on equity of 1.95%. The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $4.19 billion. During the same period in the prior year, the firm earned ($0.11) earnings per share. The firm's revenue was down 12.6% compared to the same quarter last year. As a group, analysts predict that Ternium will post 4.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ternium

Several hedge funds have recently added to or reduced their stakes in the company. Caxton Associates LLP boosted its holdings in Ternium by 2.8% in the second quarter. Caxton Associates LLP now owns 17,819 shares of the basic materials company's stock valued at $536,000 after acquiring an additional 484 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Ternium by 51.8% in the first quarter. GAMMA Investing LLC now owns 1,913 shares of the basic materials company's stock valued at $60,000 after acquiring an additional 653 shares during the last quarter. Boston Partners boosted its holdings in Ternium by 4.1% in the first quarter. Boston Partners now owns 20,994 shares of the basic materials company's stock valued at $654,000 after acquiring an additional 827 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Ternium by 10.1% during the first quarter. Cetera Investment Advisers now owns 9,671 shares of the basic materials company's stock worth $301,000 after buying an additional 890 shares during the last quarter. Finally, Vident Advisory LLC boosted its holdings in Ternium by 13.2% during the second quarter. Vident Advisory LLC now owns 13,899 shares of the basic materials company's stock worth $418,000 after buying an additional 1,623 shares during the last quarter. Institutional investors own 11.98% of the company's stock.

Ternium Company Profile

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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