B. Riley Estimates Tecnoglass’ FY2024 Earnings (NASDAQ:TGLS)

Tecnoglass Inc. (NASDAQ:TGLS) – Analysts at B. Riley raised their FY2024 earnings estimates for Tecnoglass in a research note issued to investors on Friday, November 8th. B. Riley analyst A. Rygiel now forecasts that the company will earn $3.60 per share for the year, up from their previous estimate of $3.43. B. Riley has a “Neutral” rating and a $72.00 price objective on the stock. The consensus estimate for Tecnoglass’ current full-year earnings is $3.52 per share. B. Riley also issued estimates for Tecnoglass’ Q4 2024 earnings at $1.00 EPS.

Tecnoglass (NASDAQ:TGLS) last released its quarterly earnings data on Thursday, November 7th. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.11. Tecnoglass had a net margin of 17.82% and a return on equity of 28.30%. The business had revenue of $237.90 million during the quarter, compared to analysts’ expectations of $240.19 million. During the same quarter in the prior year, the company earned $0.98 EPS. The firm’s quarterly revenue was up 13.1% on a year-over-year basis.

TGLS has been the topic of several other reports. Robert W. Baird raised their target price on shares of Tecnoglass from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Stifel Nicolaus raised their price objective on shares of Tecnoglass from $50.00 to $59.00 and gave the stock a “hold” rating in a report on Friday, August 9th. DA Davidson upped their target price on shares of Tecnoglass from $65.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday. Raymond James downgraded Tecnoglass from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 22nd. Finally, Sidoti cut Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price objective for the company. in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Tecnoglass currently has an average rating of “Hold” and an average target price of $77.40.

Tecnoglass Trading Down 6.9 %

NASDAQ TGLS opened at $73.93 on Monday. Tecnoglass has a one year low of $32.69 and a one year high of $80.51. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.43 and a quick ratio of 1.80. The firm has a market cap of $3.47 billion, a P/E ratio of 23.10 and a beta of 1.86. The stock’s 50-day moving average is $69.29 and its 200-day moving average is $58.65.

Institutional Investors Weigh In On Tecnoglass

Several hedge funds have recently bought and sold shares of TGLS. Amalgamated Bank acquired a new position in shares of Tecnoglass in the second quarter valued at about $39,000. Signaturefd LLC grew its position in shares of Tecnoglass by 4,735.7% during the 3rd quarter. Signaturefd LLC now owns 677 shares of the company’s stock worth $46,000 after purchasing an additional 663 shares in the last quarter. X Square Capital LLC increased its holdings in shares of Tecnoglass by 5.7% during the second quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock worth $219,000 after purchasing an additional 237 shares during the period. PFG Investments LLC acquired a new stake in shares of Tecnoglass in the second quarter valued at approximately $220,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Tecnoglass in the first quarter valued at approximately $227,000. 37.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tecnoglass

In related news, Director Julio A. Torres sold 30,520 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $72.83, for a total transaction of $2,222,771.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Tecnoglass news, Director Julio A. Torres sold 30,520 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $72.83, for a total transaction of $2,222,771.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of Tecnoglass stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $73.02, for a total value of $104,573,402.40. Following the transaction, the insider now owns 23,195,988 shares of the company’s stock, valued at $1,693,771,043.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Tecnoglass Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were paid a $0.11 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.44 dividend on an annualized basis and a yield of 0.60%. Tecnoglass’s dividend payout ratio is 13.75%.

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.