Ternium (NYSE:TX) issued its quarterly earnings data on Thursday. The basic materials company reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.12, MarketWatch Earnings reports. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.67 billion. Ternium had a net margin of 13.17% and a return on equity of 23.04%. The company’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.73 earnings per share.
Shares of TX traded up $1.44 during mid-day trading on Friday, hitting $25.82. 508,429 shares of the company were exchanged, compared to its average volume of 319,543. Ternium has a 1-year low of $23.68 and a 1-year high of $41.65. The company has a quick ratio of 0.95, a current ratio of 2.42 and a debt-to-equity ratio of 0.23. The company has a market cap of $5.04 billion, a PE ratio of 3.37, a price-to-earnings-growth ratio of 0.75 and a beta of 0.80.
The business also recently declared an annual dividend, which will be paid on Friday, May 17th. Investors of record on Thursday, May 9th will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a dividend yield of 4.39%. Ternium’s dividend payout ratio (DPR) is presently 14.34%.
A number of brokerages have weighed in on TX. Zacks Investment Research downgraded shares of Ternium from a “buy” rating to a “hold” rating in a research report on Saturday, February 2nd. ValuEngine downgraded shares of Ternium from a “sell” rating to a “strong sell” rating in a research report on Wednesday, February 20th. Itau BBA Securities downgraded shares of Ternium from an “outperform” rating to a “market perform” rating in a research report on Monday, January 14th. Scotiabank downgraded shares of Ternium from an “outperform” rating to a “sector perform” rating in a research report on Thursday, March 14th. Finally, Credit Suisse Group downgraded shares of Ternium from an “outperform” rating to a “neutral” rating in a research report on Thursday, February 28th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $33.00.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TX. Investec Asset Management LTD raised its position in shares of Ternium by 47.1% during the 1st quarter. Investec Asset Management LTD now owns 2,253,727 shares of the basic materials company’s stock worth $61,346,000 after purchasing an additional 721,263 shares during the last quarter. Investec Asset Management North America Inc. raised its position in shares of Ternium by 48.6% during the 1st quarter. Investec Asset Management North America Inc. now owns 617,251 shares of the basic materials company’s stock worth $16,802,000 after purchasing an additional 201,903 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Ternium during the 3rd quarter worth about $5,849,000. Northern Trust Corp raised its position in shares of Ternium by 633.9% during the 4th quarter. Northern Trust Corp now owns 160,327 shares of the basic materials company’s stock worth $4,345,000 after purchasing an additional 138,482 shares during the last quarter. Finally, Freestone Capital Holdings LLC raised its position in shares of Ternium by 96.6% during the 4th quarter. Freestone Capital Holdings LLC now owns 265,104 shares of the basic materials company’s stock worth $7,184,000 after purchasing an additional 130,267 shares during the last quarter.
Ternium Company Profile
Ternium SA, through its subsidiaries, manufactures and processes various steel products in Mexico, Argentina, Paraguay, Chile, Bolivia, Uruguay, Brazil, the United States, Colombia, Guatemala, Costa Rica, Honduras, El Salvador, and Nicaragua. It operates in two segments, Steel and Mining. The Steel segment offers steel products, including slabs, billets and round bars, hot rolled flat products, merchant bars, reinforcing bars, stirrups and rods, tin plate and galvanized products, tubes, beams, insulated panels, roofing and cladding, roof tiles, steel decks, pre-engineered metal building systems, and pig iron; and sells energy.
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