DA Davidson Issues Positive Forecast for Tecnoglass Earnings

Tecnoglass Inc. (NASDAQ:TGLS) – DA Davidson upped their FY2024 earnings per share (EPS) estimates for Tecnoglass in a note issued to investors on Tuesday, November 12th. DA Davidson analyst B. Thielman now expects that the company will post earnings of $3.42 per share for the year, up from their prior forecast of $3.32. DA Davidson has a “Buy” rating and a $90.00 price objective on the stock. The consensus estimate for Tecnoglass’ current full-year earnings is $3.52 per share. DA Davidson also issued estimates for Tecnoglass’ Q4 2024 earnings at $0.98 EPS and FY2025 earnings at $4.06 EPS.

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

A number of other equities analysts also recently issued reports on TGLS. Raymond James downgraded Tecnoglass from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 22nd. Sidoti cut Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 target price for the company. in a research report on Tuesday, October 22nd. B. Riley reaffirmed a “neutral” rating and issued a $72.00 target price (up from $69.00) on shares of Tecnoglass in a report on Thursday, October 10th. Stifel Nicolaus lifted their price objective on shares of Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Finally, Robert W. Baird lifted their target price on Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $77.40.

Tecnoglass Trading Down 6.9 %

Shares of NASDAQ:TGLS opened at $73.93 on Wednesday. The company has a current ratio of 2.43, a quick ratio of 1.80 and a debt-to-equity ratio of 0.24. The company’s 50 day moving average is $69.29 and its two-hundred day moving average is $58.65. The company has a market cap of $3.47 billion, a PE ratio of 23.10 and a beta of 1.86. Tecnoglass has a 52 week low of $32.69 and a 52 week high of $80.51.

Tecnoglass Dividend Announcement

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

Insider Transactions at Tecnoglass

In other news, major shareholder Holding Corp Energy sold 1,432,120 shares of Tecnoglass stock in a transaction 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 completion of the sale, the insider now owns 23,195,988 shares of the company’s stock, valued at $1,693,771,043.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Holding Corp Energy sold 1,432,120 shares of Tecnoglass stock in a transaction dated 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 directly owns 23,195,988 shares of the company’s stock, valued at $1,693,771,043.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Julio A. Torres sold 30,520 shares of the firm’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Institutional Trading of Tecnoglass

Large investors have recently bought and sold shares of the company. Crossmark Global Holdings Inc. raised its holdings in shares of Tecnoglass by 3.2% during the second quarter. Crossmark Global Holdings Inc. now owns 7,066 shares of the company’s stock worth $355,000 after purchasing an additional 220 shares during the period. X Square Capital LLC lifted its stake in Tecnoglass by 5.7% during the second quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock valued at $219,000 after purchasing an additional 237 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its holdings in shares of Tecnoglass by 3.1% in the third quarter. Nations Financial Group Inc. IA ADV now owns 9,596 shares of the company’s stock valued at $659,000 after buying an additional 287 shares in the last quarter. SummerHaven Investment Management LLC boosted its stake in shares of Tecnoglass by 2.2% during the 2nd quarter. SummerHaven Investment Management LLC now owns 13,681 shares of the company’s stock worth $687,000 after acquiring an additional 292 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of Tecnoglass by 4,735.7% in the 3rd quarter. Signaturefd LLC now owns 677 shares of the company’s stock valued at $46,000 after purchasing an additional 663 shares during the period. Institutional investors and hedge funds own 37.35% of the company’s stock.

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.