We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Tecnoglass (TGLS) Surges 11.4%: Is This an Indication of Further Gains?
Read MoreHide Full Article
Tecnoglass (TGLS - Free Report) shares soared 11.4% in the last trading session to close at $26.20. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 4.2% gain over the past four weeks.
Shares of Tecnoglass have been gaining from optimism surrounding the home improvements market, characterized by growth in U.S. single-family housing activity, recovering commercial construction works as well as market share gains. Moreover, the company’s vertically integrated business model is helping to manage costs prudently. Backed by such trends and the company’s strong business fundamentals, management provided an encouraging view for 2021. It expects total revenues in the range of $450-$465 million, reflecting growth from $374.9 million reported in the prior year.
This architectural glass maker is expected to post quarterly earnings of $0.34 per share in its upcoming report, which represents a year-over-year change of +21.4%. Revenues are expected to be $117.64 million, up 13.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Tecnoglass, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on TGLS going forward to see if this recent jump can turn into more strength down the road.
Image: Bigstock
Tecnoglass (TGLS) Surges 11.4%: Is This an Indication of Further Gains?
Tecnoglass (TGLS - Free Report) shares soared 11.4% in the last trading session to close at $26.20. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 4.2% gain over the past four weeks.
Shares of Tecnoglass have been gaining from optimism surrounding the home improvements market, characterized by growth in U.S. single-family housing activity, recovering commercial construction works as well as market share gains. Moreover, the company’s vertically integrated business model is helping to manage costs prudently. Backed by such trends and the company’s strong business fundamentals, management provided an encouraging view for 2021. It expects total revenues in the range of $450-$465 million, reflecting growth from $374.9 million reported in the prior year.
This architectural glass maker is expected to post quarterly earnings of $0.34 per share in its upcoming report, which represents a year-over-year change of +21.4%. Revenues are expected to be $117.64 million, up 13.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Tecnoglass, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on TGLS going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>