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

Tecnoglass Inc. (NYSE:TGLS)’s stock price fell 8.6% on Thursday following a weaker than expected earnings announcement. The stock traded as low as $48.03 and last traded at $44.8850. 44,906 shares were traded 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 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.21). Tecnoglass had a net margin of 18.46% and a return on equity of 26.64%. The company had revenue of $245.30 million during the quarter. During the same quarter last year, the business earned $1.05 earnings per share. Tecnoglass’s revenue was up 3.0% on a year-over-year basis.

Tecnoglass Announces Dividend

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

Analysts Set New Price Targets

TGLS has been the topic of several research analyst reports. Zacks Research raised Tecnoglass from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Weiss Ratings restated a “hold (c)” rating on shares of Tecnoglass in a research report on Monday, December 22nd. Finally, DA Davidson cut their target price on shares of Tecnoglass from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. raised its stake in shares of Tecnoglass by 2.6% during the fourth quarter. Invesco Ltd. now owns 33,225 shares of the company’s stock worth $1,672,000 after purchasing an additional 827 shares during the last quarter. Blue Chip Partners LLC grew its position in Tecnoglass by 6.3% in the 4th quarter. Blue Chip Partners LLC now owns 4,250 shares of the company’s stock valued at $214,000 after buying an additional 250 shares during the last quarter. Empowered Funds LLC acquired a new position in Tecnoglass in the 4th quarter valued at $49,000. XTX Topco Ltd purchased a new position in Tecnoglass during the 4th quarter worth $3,023,000. Finally, one8zero8 LLC raised its position in Tecnoglass by 3.8% during the 4th quarter. one8zero8 LLC now owns 96,376 shares of the company’s stock worth $4,850,000 after buying an additional 3,570 shares during the last quarter. 37.35% of the stock is currently owned by hedge funds and other institutional investors.

Tecnoglass Trading Down 8.4%

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 company’s fifty day moving average price is $51.36 and its two-hundred day moving average price is $58.10. The company has a quick ratio of 1.40, a current ratio of 1.98 and a debt-to-equity ratio of 0.15.

Tecnoglass Company Profile

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.