Ternium (NYSE:TX) Posts Quarterly Earnings Results, Beats Estimates By $0.53 EPS

Ternium (NYSE:TX) posted its quarterly earnings data on Tuesday. The basic materials company reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.53, Zacks reports. The company had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.41 billion. Ternium had a net margin of 3.66% and a return on equity of 3.70%. The firm’s revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.28 earnings per share.

Ternium Price Performance

Shares of TX stock traded up $2.72 on Wednesday, hitting $53.06. 461,581 shares of the stock traded hands, compared to its average volume of 361,378. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.63 and a quick ratio of 1.53. Ternium has a 52 week low of $30.58 and a 52 week high of $53.82. The firm has a 50 day simple moving average of $46.52 and a two-hundred day simple moving average of $43.86. The firm has a market cap of $10.64 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 0.18 and a beta of 1.25.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TX. Itau BBA Securities upgraded shares of Ternium from a “market perform” rating to an “outperform” rating and set a $59.00 price target on the stock in a research report on Sunday, May 24th. Wells Fargo & Company upgraded Ternium from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $43.00 to $45.00 in a research note on Thursday, July 9th. Wall Street Zen raised Ternium from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 12th. Bradesco Corretora upgraded Ternium to an “outperform” rating and set a $62.00 target price on the stock in a research report on Tuesday, May 19th. Finally, Zacks Research lowered Ternium from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.94.

Institutional Investors Weigh In On Ternium

A number of institutional investors have recently bought and sold shares of TX. Empowered Funds LLC lifted its position in shares of Ternium by 10.0% in the fourth quarter. Empowered Funds LLC now owns 95,129 shares of the basic materials company’s stock valued at $3,633,000 after acquiring an additional 8,630 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Ternium during the fourth quarter worth about $331,000. Numerai GP LLC raised its stake in Ternium by 206.4% during the 4th quarter. Numerai GP LLC now owns 40,743 shares of the basic materials company’s stock valued at $1,556,000 after purchasing an additional 27,447 shares during the period. Millennium Management LLC raised its stake in Ternium by 386.4% during the 4th quarter. Millennium Management LLC now owns 76,026 shares of the basic materials company’s stock valued at $2,903,000 after purchasing an additional 60,397 shares during the period. Finally, Banco Bilbao Vizcaya Argentaria S.A. lifted its holdings in Ternium by 8.5% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 11,220 shares of the basic materials company’s stock worth $430,000 after purchasing an additional 883 shares in the last quarter. Hedge funds and other institutional investors own 11.98% of the company’s stock.

About Ternium

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.