Tecnoglass Inc. (NASDAQ:TGLS – Get Free Report) declared a quarterly dividend on Thursday, September 5th, Wall Street Journal reports. Stockholders of record on Monday, September 30th will be paid a dividend of 0.11 per share on Thursday, October 31st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Monday, September 30th.
Tecnoglass has increased its dividend payment by an average of 48.5% annually over the last three years. Tecnoglass has a dividend payout ratio of 10.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Tecnoglass to earn $4.00 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 11.0%.
Tecnoglass Stock Up 1.9 %
Shares of NASDAQ:TGLS opened at $68.94 on Friday. The business’s 50 day moving average is $59.45 and its 200 day moving average is $54.42. The stock has a market cap of $3.24 billion, a P/E ratio of 19.87 and a beta of 1.86. Tecnoglass has a 52-week low of $28.21 and a 52-week high of $69.79. The company has a quick ratio of 1.80, a current ratio of 2.43 and a debt-to-equity ratio of 0.24.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on the stock. B. Riley cut shares of Tecnoglass from a “buy” rating to a “neutral” rating and upped their price target for the stock from $60.00 to $69.00 in a research report on Monday, September 23rd. Sidoti raised Tecnoglass from a “neutral” rating to a “buy” rating and set a $68.00 target price on the stock in a research report on Wednesday, June 26th. Robert W. Baird lifted their price target on Tecnoglass from $68.00 to $76.00 and gave the company an “outperform” rating in a report on Tuesday, September 17th. Stifel Nicolaus upped their price objective on Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Finally, DA Davidson boosted their target price on shares of Tecnoglass from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Three investment 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 stock. According to MarketBeat.com, Tecnoglass has a consensus rating of “Moderate Buy” and an average price target of $63.67.
Get Our Latest Report on Tecnoglass
Tecnoglass Company Profile
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.
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