Brokerages Expect Tecnoglass Inc. (NASDAQ:TGLS) Will Announce Earnings of $0.30 Per Share

Brokerages predict that Tecnoglass Inc. (NASDAQ:TGLS) will post earnings of $0.30 per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Tecnoglass’ earnings. The highest EPS estimate is $0.32 and the lowest is $0.29. Tecnoglass posted earnings of $0.20 per share in the same quarter last year, which suggests a positive year over year growth rate of 50%. The business is scheduled to report its next quarterly earnings results before the market opens on Friday, August 6th.

On average, analysts expect that Tecnoglass will report full year earnings of $1.25 per share for the current fiscal year, with EPS estimates ranging from $1.23 to $1.26. For the next financial year, analysts expect that the firm will post earnings of $1.41 per share, with EPS estimates ranging from $1.36 to $1.48. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Tecnoglass.

Tecnoglass (NASDAQ:TGLS) last announced its earnings results on Friday, May 7th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.22 by $0.13. The business had revenue of $110.88 million for the quarter, compared to the consensus estimate of $99.68 million. Tecnoglass had a return on equity of 26.19% and a net margin of 12.83%.

Several equities research analysts recently commented on TGLS shares. Zacks Investment Research downgraded Tecnoglass from a “buy” rating to a “hold” rating in a report on Tuesday, July 13th. B. Riley downgraded Tecnoglass from a “buy” rating to a “neutral” rating and raised their target price for the company from $17.00 to $23.00 in a report on Wednesday, June 2nd. Robert W. Baird raised their target price on Tecnoglass from $14.00 to $18.00 and gave the company an “outperform” rating in a report on Monday, May 10th. DA Davidson lifted their price objective on Tecnoglass from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, March 30th. Finally, Colliers Securities restated a “buy” rating on shares of Tecnoglass in a report on Thursday, July 1st. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $16.33.

In other Tecnoglass news, Director Julio A. Torres sold 20,000 shares of Tecnoglass stock in a transaction that occurred on Thursday, May 13th. The stock was sold at an average price of $15.87, for a total transaction of $317,400.00. Following the sale, the director now directly owns 85,520 shares in the company, valued at approximately $1,357,202.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Northern Trust Corp increased its holdings in shares of Tecnoglass by 3.8% in the 1st quarter. Northern Trust Corp now owns 44,402 shares of the company’s stock valued at $533,000 after acquiring an additional 1,637 shares during the last quarter. Morgan Stanley increased its holdings in shares of Tecnoglass by 388.2% in the 1st quarter. Morgan Stanley now owns 5,038 shares of the company’s stock valued at $61,000 after acquiring an additional 4,006 shares during the last quarter. Rothschild Investment Corp IL increased its holdings in shares of Tecnoglass by 14.4% in the 1st quarter. Rothschild Investment Corp IL now owns 39,377 shares of the company’s stock valued at $474,000 after acquiring an additional 4,965 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Tecnoglass by 8.8% in the 1st quarter. Geode Capital Management LLC now owns 174,948 shares of the company’s stock valued at $2,102,000 after acquiring an additional 14,217 shares during the last quarter. Finally, Diversified Trust Co bought a new stake in shares of Tecnoglass in the 1st quarter valued at approximately $174,000. Institutional investors and hedge funds own 19.26% of the company’s stock.

Shares of NASDAQ:TGLS traded down $0.47 during mid-day trading on Thursday, hitting $18.38. 1,689 shares of the company traded hands, compared to its average volume of 279,638. The firm has a market capitalization of $876.17 million, a price-to-earnings ratio of 16.71, a P/E/G ratio of 0.72 and a beta of 1.67. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.14 and a current ratio of 2.83. Tecnoglass has a 52-week low of $4.21 and a 52-week high of $24.01. The stock’s 50 day moving average price is $19.73.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 30th. Shareholders of record on Wednesday, June 30th will be issued a dividend of $0.027 per share. The ex-dividend date is Tuesday, June 29th. This represents a $0.11 annualized dividend and a yield of 0.59%. Tecnoglass’s dividend payout ratio is presently 13.92%.

About Tecnoglass

Tecnoglass Inc, through its subsidiaries, manufactures, supplies, and installs architectural glass, windows, and associated aluminum products for the commercial and residential construction industries in North, Central, and South America. The company offers low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.

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