Ternium S.A. (TX) Announces Quarterly Earnings Results, Beats Expectations By $0.33 EPS
Ternium S.A. (NYSE:TX) announced its quarterly earnings results on Tuesday. The basic materials company reported $0.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.33, Briefing.com reports. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.38 billion. Ternium had a return on equity of 15.73% and a net margin of 9.86%. Ternium’s quarterly revenue was up 33.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.17 EPS.
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Several analysts recently commented on the company. BidaskClub lowered Ternium from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Zacks Investment Research lowered Ternium from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. Credit Suisse Group reaffirmed a “hold” rating and issued a $24.00 price target on shares of Ternium in a research note on Thursday, August 3rd. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $35.00 price target (up previously from $33.00) on shares of Ternium in a research note on Friday, July 21st. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $30.50.
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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