Ternium (NYSE:TX) Stock Rating Cut to Buy at Wall Street Zen

Wall Street Zen downgraded shares of Ternium (NYSE:TX) from a strong-buy rating to a buy rating in a research note released on Saturday,Wall Street Zen reports.

A number of other equities research analysts also recently issued reports on the company. HSBC downgraded Ternium from a “buy” rating to a “hold” rating and boosted their price target for the company from $53.00 to $55.00 in a research report on Friday, August 21st. UBS Group raised their price objective on Ternium from $56.00 to $59.00 and gave the stock a “neutral” rating in a report on Thursday, August 27th. Weiss Ratings upgraded Ternium from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, September 10th. Wells Fargo & Company decreased their target price on Ternium from $56.00 to $52.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, JPMorgan Chase & Co. increased their target price on shares of Ternium from $60.50 to $67.50 and gave the stock an “overweight” rating in a research report on Friday, September 4th. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.17.

Ternium Stock Up 1.1%

Shares of TX opened at $49.19 on Friday. Ternium has a fifty-two week low of $35.12 and a fifty-two week high of $60.21. The company’s fifty day moving average is $55.91 and its two-hundred day moving average is $47.81. The firm has a market cap of $9.86 billion, a PE ratio of 10.08, a price-to-earnings-growth ratio of 0.14 and a beta of 1.17. The company has a quick ratio of 1.43, a current ratio of 2.56 and a debt-to-equity ratio of 0.15.

Ternium (NYSE:TX) last released its quarterly earnings data on Tuesday, November 3rd. The basic materials company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.37). The firm had revenue of $4.64 billion for the quarter, compared to analyst estimates of $4.65 billion. Ternium had a return on equity of 5.77% and a net margin of 5.74%. The company’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.10 earnings per share. Analysts forecast that Ternium will post 6.41 earnings per share for the current year.

Ternium Announces Dividend

The firm also recently announced a dividend, which will be paid on Friday, November 20th. Investors of record on Monday, November 16th will be issued a dividend of $0.90 per share. The ex-dividend date is Monday, November 16th. This represents a dividend yield of 349.0%. Ternium’s payout ratio is presently 53.28%.

Institutional Trading of Ternium

Institutional investors have recently added to or reduced their stakes in the business. Lazard Asset Management LLC raised its position in Ternium by 8.0% in the first quarter. Lazard Asset Management LLC now owns 6,336,127 shares of the basic materials company’s stock valued at $254,395,000 after purchasing an additional 469,846 shares during the period. Donald Smith & CO. Inc. purchased a new stake in shares of Ternium in the second quarter worth about $134,131,000. Amundi boosted its position in shares of Ternium by 19.9% in the first quarter. Amundi now owns 703,304 shares of the basic materials company’s stock worth $28,238,000 after buying an additional 116,813 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in shares of Ternium by 9.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 472,046 shares of the basic materials company’s stock valued at $25,632,000 after buying an additional 41,561 shares in the last quarter. Finally, Nykredit A S acquired a new stake in shares of Ternium in the second quarter valued at about $14,329,000. 11.98% of the stock is owned by hedge funds and other institutional investors.

About Ternium

Ternium is a steel producer serving customers across the Americas. Its operations span the steelmaking process, from iron ore extraction and processing to the manufacture and distribution of steel products.

The company produces flat and long steel products, including slabs, hot- and cold-rolled steel, coated steel, tinplate, and bars. These materials are used in industries such as construction, automotive manufacturing, appliances, energy, and packaging.

Ternium’s roots include steel businesses in Argentina and Mexico, and it was established in 2005.