Ternium (NYSE:TX) Releases Earnings Results, Beats Expectations By $0.46 EPS

Ternium (NYSE:TX) posted its earnings results on Tuesday. The basic materials company reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.46, FiscalAI reports. The company had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.41 billion. Ternium had a net margin of 3.66% and a return on equity of 3.70%.

Ternium Trading Up 1.1%

Shares of TX traded up $0.55 during trading hours on Tuesday, reaching $50.29. 1,095,324 shares of the company traded hands, compared to its average volume of 361,441. Ternium has a 12 month low of $30.44 and a 12 month high of $51.73. The company has a quick ratio of 1.53, a current ratio of 2.63 and a debt-to-equity ratio of 0.14. The company’s fifty day moving average price is $46.50 and its two-hundred day moving average price is $43.80. The company has a market capitalization of $10.08 billion, a price-to-earnings ratio of 17.28, a price-to-earnings-growth ratio of 0.18 and a beta of 1.25.

Institutional Trading of Ternium

Several institutional investors and hedge funds have recently bought and sold shares of TX. Atlas Capital Advisors Inc. bought a new stake in Ternium during the 4th quarter valued at approximately $36,000. Advisory Services Network LLC bought a new position in shares of Ternium in the 3rd quarter worth approximately $38,000. JPMorgan Chase & Co. raised its position in shares of Ternium by 142.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,254 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 736 shares in the last quarter. State of Wyoming bought a new position in shares of Ternium in the 2nd quarter worth approximately $119,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Ternium in the 2nd quarter valued at approximately $214,000. 11.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TX has been the topic of a number of research analyst reports. The Goldman Sachs Group restated a “buy” rating and set a $57.00 price target on shares of Ternium in a report on Friday, May 22nd. Itau BBA Securities upgraded Ternium from a “market perform” rating to an “outperform” rating and set a $59.00 price objective on the stock in a research report on Sunday, May 24th. Wall Street Zen raised Ternium from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 12th. Weiss Ratings restated a “buy (b-)” rating on shares of Ternium in a report on Wednesday, May 20th. Finally, Zacks Research downgraded Ternium from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Ternium has a consensus rating of “Moderate Buy” and a consensus target price of $47.94.

Ternium Company Profile

Ternium SA (NYSE:TX) is a leading vertically integrated steel producer with operations across the Americas. The company manufactures a broad range of flat and long steel products, including hot‐rolled and cold‐rolled coils, galvanized and tin-coated sheets, plates, rebars, wire rods, bars and structural sections. These products serve diverse end markets such as automotive, construction, energy, industrial machinery, home appliances and packaging.

Established in 2005 through the consolidation of steel assets in Argentina and Mexico, Ternium has grown to operate major production facilities in Argentina, Brazil, Mexico, Colombia, Central America and the United States.