Ternium (NYSE:TX) Announces Quarterly Earnings Results, Beats Expectations By $1.12 EPS

Ternium (NYSE:TXGet Rating) issued its quarterly earnings data on Tuesday. The basic materials company reported $3.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.83 by $1.12, MarketWatch Earnings reports. Ternium had a net margin of 23.77% and a return on equity of 35.97%. During the same period in the prior year, the firm posted $3.07 EPS.

Shares of TX stock traded up $3.77 during trading hours on Wednesday, hitting $43.82. 4,417 shares of the company were exchanged, compared to its average volume of 743,627. The business has a 50 day moving average of $43.30 and a two-hundred day moving average of $42.87. The company has a market capitalization of $8.78 billion, a PE ratio of 2.27 and a beta of 1.62. The company has a current ratio of 2.68, a quick ratio of 1.46 and a debt-to-equity ratio of 0.07. Ternium has a 52 week low of $32.46 and a 52 week high of $56.86.

The firm also recently announced an annual dividend, which will be paid on Monday, May 16th. Shareholders of record on Friday, May 6th will be paid a $1.80 dividend. This represents a yield of 5.9%. This is a boost from Ternium’s previous annual dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 5th. Ternium’s payout ratio is presently 4.11%.

Several brokerages have recently issued reports on TX. Zacks Investment Research raised shares of Ternium from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 21st. StockNews.com initiated coverage on shares of Ternium in a research report on Thursday, March 31st. They set a “strong-buy” rating on the stock. Finally, Wolfe Research raised shares of Ternium from an “underperform” rating to a “peer perform” rating and boosted their price objective for the company from $38.00 to $43.00 in a research report on Friday, March 11th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $57.60.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Morgan Stanley increased its stake in shares of Ternium by 40.8% during the 2nd quarter. Morgan Stanley now owns 666,832 shares of the basic materials company’s stock worth $25,647,000 after purchasing an additional 193,069 shares during the last quarter. Sei Investments Co. grew its holdings in Ternium by 6.5% in the 4th quarter. Sei Investments Co. now owns 142,180 shares of the basic materials company’s stock valued at $6,188,000 after buying an additional 8,670 shares in the last quarter. Geode Capital Management LLC increased its position in Ternium by 19.1% during the 4th quarter. Geode Capital Management LLC now owns 79,741 shares of the basic materials company’s stock worth $3,470,000 after buying an additional 12,771 shares during the period. Parametric Portfolio Associates LLC lifted its holdings in shares of Ternium by 4.6% during the fourth quarter. Parametric Portfolio Associates LLC now owns 47,393 shares of the basic materials company’s stock worth $2,063,000 after buying an additional 2,103 shares in the last quarter. Finally, UBS Group AG boosted its position in shares of Ternium by 18.9% in the third quarter. UBS Group AG now owns 26,652 shares of the basic materials company’s stock valued at $1,127,000 after acquiring an additional 4,245 shares during the period. Institutional investors and hedge funds own 14.00% of the company’s stock.

About Ternium (Get Rating)

Ternium SA manufactures, processes, and sells various steel products in Mexico, Argentina, Paraguay, Chile, Bolivia, Uruguay, Brazil, the United States, Colombia, Guatemala, Costa Rica, Honduras, El Salvador, and Nicaragua. It operates through two segments, Steel and Mining. The Steel segment offers slabs, billets and round bars, hot rolled flat products, merchant bars, reinforcing bars, stirrups and rods, tin plate and galvanized products, tubes, beams, insulated panels, roofing and cladding, roof tiles, steel decks, pre-engineered metal building systems, and pig iron products; and sells energy.

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Earnings History for Ternium (NYSE:TX)

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