Tecnoglass (NYSE:TGLS) Stock Price Down 8.6% Following Weak Earnings

Shares of Tecnoglass Inc. (NYSE:TGLS) fell 8.6% during mid-day trading on Thursday following a dissappointing earnings announcement. The stock traded as low as $48.03 and last traded at $44.8850. 44,906 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 294,619 shares. The stock had previously closed at $49.10.

The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.21). The business had revenue of $245.30 million during the quarter. Tecnoglass had a net margin of 18.46% and a return on equity of 26.64%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.05 earnings per share.

Tecnoglass Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st were given a $0.15 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $0.60 annualized dividend and a yield of 1.3%. Tecnoglass’s dividend payout ratio is presently 15.58%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tecnoglass in a research note on Monday, December 22nd. Zacks Research upgraded shares of Tecnoglass from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Finally, DA Davidson reduced their price target on shares of Tecnoglass from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $90.00.

Hedge Funds Weigh In On Tecnoglass

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. raised its position in shares of Tecnoglass by 14.3% in the second quarter. American Century Companies Inc. now owns 932,926 shares of the company’s stock valued at $72,171,000 after buying an additional 116,760 shares during the last quarter. Castleark Management LLC purchased a new stake in Tecnoglass in the 2nd quarter worth approximately $3,060,000. CenterBook Partners LP purchased a new stake in Tecnoglass in the 2nd quarter worth approximately $2,777,000. Citigroup Inc. raised its holdings in Tecnoglass by 445.3% in the 3rd quarter. Citigroup Inc. now owns 526,061 shares of the company’s stock valued at $35,199,000 after acquiring an additional 429,590 shares during the last quarter. Finally, Bryce Point Capital LLC purchased a new position in shares of Tecnoglass during the 2nd quarter worth $691,000. Institutional investors and hedge funds own 37.35% of the company’s stock.

Tecnoglass Stock Performance

The firm has a market cap of $2.09 billion, a PE ratio of 11.62, a P/E/G ratio of 0.55 and a beta of 1.71. The stock has a 50-day moving average price of $51.36 and a 200 day moving average price of $58.10. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.98 and a quick ratio of 1.40.

About Tecnoglass

Tecnoglass, Inc is a vertically integrated designer, manufacturer and distributor of architectural glass, windows and aluminum products for the construction industry. The company’s product portfolio includes tempered, laminated and insulated glass units, high‐performance aluminum windows, curtainwall systems and storefront solutions tailored to commercial, residential and institutional projects.

Established in 1994 as a family‐run enterprise in Barranquilla, Colombia, Tecnoglass has grown through significant investments in automated production lines, research and development, and international quality certifications.