Tecnoglass (TGLS) Stock Hits New High On Robust Earnings and Analyst Update

TGLS stock is having a trending day after Tecnoglass Inc (NASDAQ:TGLS) reported robust first-quarter earnings that topped analysts’ estimate by a wide margin.

Tecnoglass (TGLS) Stock Hits New High On Robust Earnings and Analyst Update

The company said that total revenue during the quarter grew 27% year-over-year to $110.9 million, well ahead of the analyst’s projection of $100 million.

Moreover, net profit during the quarter came in at $8.2 million, or 17 cents a share, compared to a loss of $18.8 million, or 40 cents in the same quarter last year.

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On an adjusted basis, the company earned 35 cents a share, topped analysts’ estimates by 13 cents.

The company recorded a backlog of $552 million for the period, up 1.1% year over year.

Analyst at Raymond James upgraded the stock Strong Buy from Outperform with a price target of $15 a share.

At the time of writing, TGLS stock is up by 29.17% at $15.81. The stock has gained 140% year-to-date.



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Editor in Chief. Living in the era of dynamic tech change Alex decided to stay tuned in changes that make any person find comfort and adapt to new devices. Furthermore, gaming became his passion for spending leisure time with his close ones. Although, he has a degree in Business Administration (majoring in Finance) writing for technology and as well as finance has been one of the precious aspects of his life