Ternium (NYSE:TX) Posts Earnings Results, Beats Estimates By $0.53 EPS

Ternium (NYSE:TX) posted its quarterly earnings results on Tuesday. The basic materials company reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.53, Zacks reports. Ternium had a return on equity of 4.29% and a net margin of 4.37%.The business had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.41 billion. During the same quarter in the prior year, the business earned $1.28 EPS. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis.

Ternium Stock Performance

Shares of NYSE:TX traded down $0.99 on Thursday, reaching $52.72. 94,769 shares of the company’s stock were exchanged, compared to its average volume of 367,842. Ternium has a twelve month low of $31.05 and a twelve month high of $53.98. The company has a fifty day moving average of $46.60 and a 200-day moving average of $43.95. The company has a market capitalization of $10.57 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 0.18 and a beta of 1.25. The company has a current ratio of 2.63, a quick ratio of 1.53 and a debt-to-equity ratio of 0.14.

Wall Street Analysts Forecast Growth

Several research firms have commented on TX. Bank of America upgraded shares of Ternium from a “neutral” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Monday, April 13th. Bradesco Corretora upgraded shares of Ternium to an “outperform” rating and set a $62.00 price target on the stock in a research note on Tuesday, May 19th. Weiss Ratings reissued a “buy (b-)” rating on shares of Ternium in a report on Wednesday, May 20th. Zacks Research downgraded shares of Ternium from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 30th. Finally, Wells Fargo & Company upgraded Ternium from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $43.00 to $45.00 in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.94.

Institutional Investors Weigh In On Ternium

A number of large investors have recently added to or reduced their stakes in TX. Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in Ternium by 8.5% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 11,220 shares of the basic materials company’s stock valued at $430,000 after acquiring an additional 883 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Ternium during the 4th quarter worth $367,000. New York State Common Retirement Fund bought a new position in shares of Ternium in the fourth quarter worth $326,000. Mariner LLC bought a new position in shares of Ternium in the third quarter worth $362,000. Finally, Employees Retirement System of Texas raised its stake in Ternium by 77.0% in the third quarter. Employees Retirement System of Texas now owns 12,075 shares of the basic materials company’s stock valued at $419,000 after purchasing an additional 5,252 shares in the last quarter. Institutional investors and hedge funds own 11.98% of the company’s stock.

Ternium Company Profile

Ternium SA (NYSE:TX) is a leading vertically integrated steel producer with operations across the Americas. The company manufactures a broad range of flat and long steel products, including hot‐rolled and cold‐rolled coils, galvanized and tin-coated sheets, plates, rebars, wire rods, bars and structural sections. These products serve diverse end markets such as automotive, construction, energy, industrial machinery, home appliances and packaging.

Established in 2005 through the consolidation of steel assets in Argentina and Mexico, Ternium has grown to operate major production facilities in Argentina, Brazil, Mexico, Colombia, Central America and the United States.