Ternium (NYSE:TX) Announces Quarterly Earnings Results, Beats Estimates By $0.46 EPS

Ternium (NYSE:TX) issued its quarterly earnings data on Tuesday. The basic materials company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.46, FiscalAI reports. The firm had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.41 billion. Ternium had a return on equity of 3.70% and a net margin of 3.66%.

Ternium Trading Up 1.1%

Shares of NYSE:TX traded up $0.55 during trading on Tuesday, reaching $50.29. The stock had a trading volume of 1,095,324 shares, compared to its average volume of 361,441. The company has a quick ratio of 1.53, a current ratio of 2.63 and a debt-to-equity ratio of 0.14. The stock has a market cap of $10.08 billion, a P/E ratio of 17.28, a PEG ratio of 0.18 and a beta of 1.25. The business has a fifty day moving average price of $46.50 and a 200-day moving average price of $43.80. Ternium has a fifty-two week low of $30.44 and a fifty-two week high of $51.73.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TX. Atlas Capital Advisors Inc. purchased a new position in shares of Ternium during the 4th quarter worth $36,000. Advisory Services Network LLC purchased a new stake in shares of Ternium in the third quarter valued at $38,000. JPMorgan Chase & Co. grew its position in shares of Ternium by 142.1% in the third quarter. JPMorgan Chase & Co. now owns 1,254 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 736 shares during the period. State of Wyoming acquired a new position in Ternium in the second quarter valued at $119,000. Finally, Raymond James Financial Inc. acquired a new position in Ternium in the second quarter valued at $214,000. 11.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TX has been the topic of several recent research reports. Wall Street Zen upgraded shares of Ternium from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 12th. The Goldman Sachs Group reiterated a “buy” rating and issued a $57.00 price target on shares of Ternium in a research report on Friday, May 22nd. Bradesco Corretora upgraded Ternium to an “outperform” rating and set a $62.00 price objective for the company in a research report on Tuesday, May 19th. Itau BBA Securities upgraded Ternium from a “market perform” rating to an “outperform” rating and set a $59.00 target price on the stock in a report on Sunday, May 24th. Finally, Bank of America raised Ternium from a “neutral” rating to a “buy” rating and set a $46.00 price target for the company in a research report on Monday, April 13th. One 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 company. According to data from MarketBeat, Ternium has an average rating of “Moderate Buy” and a consensus price target of $47.94.

About Ternium

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.