Ternium (TX) Rating Increased to Strong-Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Ternium (NYSE:TX) from a hold rating to a strong-buy rating in a report issued on Wednesday morning. The brokerage currently has $43.00 target price on the basic materials company’s stock.
According to Zacks, “Ternium is the leading producer of flat and long steel products of Latin America and consolidates the operations of the steel companies Hylsa in Mexico, Siderar in Argentina and Sidor in Venezuela. It create value with our customers, jointly improving competitiveness and productivity, through a highly efficient industrial and technological base and a global commercial network. “
Several other research firms have also issued reports on TX. ValuEngine upgraded Ternium from a buy rating to a strong-buy rating in a research note on Monday, April 2nd. Scotiabank set a $43.00 price objective on Ternium and gave the company a buy rating in a research note on Thursday, February 8th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and an average price target of $37.25.
Ternium (NYSE:TX) last released its quarterly earnings data on Wednesday, April 25th. The basic materials company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.70. The firm had revenue of $2.96 billion for the quarter, compared to analyst estimates of $2.72 billion. Ternium had a return on equity of 16.99% and a net margin of 9.47%. The business’s revenue for the quarter was up 42.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.33 earnings per share. equities research analysts predict that Ternium will post 5 EPS for the current fiscal year.
The firm also recently disclosed an annual dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Monday, May 7th will be paid a $1.10 dividend. This is a positive change from Ternium’s previous annual dividend of $0.90. The ex-dividend date is Friday, May 4th. This represents a yield of 3.28%. Ternium’s dividend payout ratio is currently 22.17%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Stifel Financial Corp bought a new position in shares of Ternium during the third quarter worth approximately $652,000. Copper Rock Capital Partners LLC increased its stake in shares of Ternium by 31.9% during the fourth quarter. Copper Rock Capital Partners LLC now owns 218,974 shares of the basic materials company’s stock worth $6,882,000 after purchasing an additional 53,005 shares during the period. Lombard Odier Asset Management USA Corp increased its stake in shares of Ternium by 7.2% during the fourth quarter. Lombard Odier Asset Management USA Corp now owns 81,492 shares of the basic materials company’s stock worth $2,574,000 after purchasing an additional 5,492 shares during the period. Jefferies Group LLC bought a new position in shares of Ternium during the fourth quarter worth approximately $263,000. Finally, Oldfield Partners LLP increased its stake in shares of Ternium by 16.7% during the fourth quarter. Oldfield Partners LLP now owns 1,932,604 shares of the basic materials company’s stock worth $61,051,000 after purchasing an additional 276,650 shares during the period. Institutional investors own 17.74% of the company’s stock.
Ternium Company Profile
Ternium SA manufactures and processes various steel products in Mexico, Argentina, Bolivia, Chile, Paraguay, Uruguay, Colombia, the United States, Central America, and internationally. The company operates in two segments, Steel and Mining. The Steel segment offers steel products, such as slabs, billets and round bars, hot-rolled coils and sheets, bars and stirrups, wire rods, cold-rolled coils and sheets, tin plates, hot dipped galvanized and electrogalvanized sheets, pre-painted sheets, steel pipes and tubular products, beams, roll formed products, and other products.
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