Tecnoglass Inc. (NYSE:TGLS) to Issue Quarterly Dividend of $0.15

Tecnoglass Inc. (NYSE:TGLS) declared a quarterly dividend on Wednesday, June 10th. Shareholders of record on Tuesday, June 30th will be paid a dividend of 0.15 per share on Friday, July 31st. This represents a c) annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, June 30th.

Tecnoglass has increased its dividend by an average of 0.4%annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Tecnoglass has a payout ratio of 9.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Tecnoglass to earn $3.61 per share next year, which means the company should continue to be able to cover its $0.45 annual dividend with an expected future payout ratio of 12.5%.

Tecnoglass Stock Down 3.1%

Shares of NYSE:TGLS opened at $42.26 on Thursday. The business’s 50 day simple moving average is $42.82 and its two-hundred day simple moving average is $46.99. The firm has a market cap of $1.88 billion, a P/E ratio of 13.08, a PEG ratio of 0.72 and a beta of 1.42. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.15 and a current ratio of 1.77. Tecnoglass has a 52-week low of $37.52 and a 52-week high of $89.26.

Tecnoglass (NYSE:TGLS) last announced its quarterly earnings results on Friday, May 8th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.06. The business had revenue of $249.01 million for the quarter, compared to analyst estimates of $243.00 million. Tecnoglass had a return on equity of 21.51% and a net margin of 14.77%.The company’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 earnings per share. As a group, research analysts forecast that Tecnoglass will post 2.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TGLS has been the topic of a number of recent research reports. DA Davidson dropped their target price on Tecnoglass from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. B. Riley Financial dropped their target price on Tecnoglass from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, March 6th. Robert W. Baird dropped their target price on Tecnoglass from $62.00 to $55.00 and set an “outperform” rating on the stock in a report on Tuesday, April 21st. Zacks Research lowered Tecnoglass from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Finally, Weiss Ratings lowered Tecnoglass from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 20th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tecnoglass has a consensus rating of “Hold” and a consensus price target of $63.33.

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.