Ternium S.A. (NYSE:TX) Stock Rating Reaffirmed by Credit Suisse Group
Ternium S.A. (NYSE:TX)‘s stock had its “hold” rating restated by investment analysts at Credit Suisse Group in a research report issued on Thursday. They presently have a $24.00 price objective on the basic materials company’s stock. Credit Suisse Group’s target price would suggest a potential downside of 19.44% from the company’s current price.
Several other analysts have also issued reports on the company. Zacks Investment Research raised Ternium from a “hold” rating to a “strong-buy” rating and set a $32.00 price target for the company in a report on Wednesday, July 5th. BidaskClub raised Ternium from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Finally, J P Morgan Chase & Co reissued an “overweight” rating and set a $35.00 price target (up previously from $33.00) on shares of Ternium in a report on Friday, July 21st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $30.50.
Ternium (TX) traded up 0.88% during mid-day trading on Thursday, hitting $29.79. The company’s stock had a trading volume of 299,029 shares. Ternium has a 52-week low of $18.29 and a 52-week high of $31.88. The company’s 50 day moving average is $28.08 and its 200-day moving average is $25.93. The stock has a market cap of $5.85 billion, a P/E ratio of 6.81 and a beta of 1.07.
Ternium (NYSE:TX) last released its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.14. Ternium had a return on equity of 16.61% and a net margin of 11.05%. The business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the company posted $0.78 earnings per share. Ternium’s revenue for the quarter was up 21.5% on a year-over-year basis. On average, equities analysts predict that Ternium will post $3.39 EPS for the current fiscal year.
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Institutional investors have recently added to or reduced their stakes in the company. Boston Partners raised its position in Ternium by 2,791.3% in the second quarter. Boston Partners now owns 2,408,523 shares of the basic materials company’s stock worth $67,655,000 after buying an additional 2,325,221 shares during the period. Oldfield Partners LLP raised its position in Ternium by 46.5% in the first quarter. Oldfield Partners LLP now owns 2,314,439 shares of the basic materials company’s stock worth $41,614,000 after buying an additional 735,110 shares during the period. Acadian Asset Management LLC raised its position in Ternium by 11.0% in the second quarter. Acadian Asset Management LLC now owns 6,694,437 shares of the basic materials company’s stock worth $188,048,000 after buying an additional 661,707 shares during the period. Van ECK Associates Corp raised its position in Ternium by 65.0% in the first quarter. Van ECK Associates Corp now owns 579,464 shares of the basic materials company’s stock worth $15,136,000 after buying an additional 228,250 shares during the period. Finally, Dupont Capital Management Corp raised its position in Ternium by 83.9% in the second quarter. Dupont Capital Management Corp now owns 487,384 shares of the basic materials company’s stock worth $13,691,000 after buying an additional 222,332 shares during the period. 21.66% of the stock is owned by hedge funds and other institutional investors.
Ternium SA is a producer of steel products. The Company produces finished and semi-finished steel products and iron ore, which are sold either directly to steel manufacturers, steel processors or end users. The Company operates through two segments: Steel and Mining. The Steel segment includes the sales of steel products and the Mining segment includes the sales of iron ore products, which are primarily inter-company.
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