Ternium (NYSE:TX) Stock Price Target Raised at Scotiabank

Ternium (NYSE:TX) had its price objective lifted by Scotiabank from $40.00 to $57.00 in a report released on Friday morning,Benzinga reports. They currently have a sector perform rating on the basic materials company’s stock.

A number of other analysts have also recently issued reports on the company. Wells Fargo & Company dropped their price target on Ternium from $56.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Thursday. UBS Group boosted their price objective on Ternium from $56.00 to $59.00 and gave the company a “neutral” rating in a research note on Thursday, August 27th. Zacks Research cut shares of Ternium from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 13th. Weiss Ratings upgraded shares of Ternium from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, September 10th. Finally, JPMorgan Chase & Co. increased their price target on shares of Ternium from $60.50 to $67.50 and gave the stock an “overweight” rating in a research note on Friday, September 4th. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $57.17.

Ternium Stock Up 1.1%

Shares of NYSE TX traded up $0.55 during mid-day trading on Friday, reaching $49.19. The company had a trading volume of 954,600 shares, compared to its average volume of 454,152. Ternium has a 52-week low of $35.12 and a 52-week high of $60.21. The stock has a market cap of $9.86 billion, a P/E ratio of 10.08, a PEG ratio of 0.14 and a beta of 1.17. The company has a current ratio of 2.58, a quick ratio of 1.43 and a debt-to-equity ratio of 0.14. The firm has a 50 day simple moving average of $55.91 and a two-hundred day simple moving average of $47.81.

Ternium (NYSE:TX) last issued its quarterly earnings data on Tuesday, November 3rd. The basic materials company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.37). Ternium had a return on equity of 4.26% and a net margin of 4.37%. The firm had revenue of $4.64 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same period in the previous year, the business posted $0.10 EPS. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. Sell-side analysts predict that Ternium will post 6.38 earnings per share for the current year.

Ternium Announces Dividend

The business also recently announced a dividend, which will be paid on Friday, November 20th. Shareholders of record on Monday, November 16th will be paid a $0.90 dividend. This represents a dividend yield of 349.0%. The ex-dividend date is Monday, November 16th. Ternium’s dividend payout ratio (DPR) is 53.28%.

Institutional Trading of Ternium

Hedge funds and other institutional investors have recently made changes to their positions in the company. Donald Smith & CO. Inc. acquired a new stake in Ternium in the second quarter valued at about $134,131,000. Engineers Gate Manager LP boosted its holdings in Ternium by 496.8% in the 2nd quarter. Engineers Gate Manager LP now owns 56,337 shares of the basic materials company’s stock valued at $2,406,000 after purchasing an additional 46,897 shares in the last quarter. Wellington Management Group LLP acquired a new position in Ternium during the 2nd quarter worth approximately $5,704,000. Nykredit A S acquired a new position in Ternium during the 2nd quarter worth approximately $10,564,000. Finally, Militia Capital Management LLC purchased a new position in shares of Ternium during the 1st quarter worth approximately $1,486,000. Hedge funds and other institutional investors own 11.98% of the company’s stock.

Ternium Company Profile

Ternium SA is a steel producer serving customers primarily in the Americas. The company manufactures and distributes a broad range of steel products, including flat steel, long steel, galvanized and pre-painted steel, hot- and cold-rolled products, steel bars, wire rod, and tubular products.

Ternium supplies industries such as construction, automotive, appliance manufacturing, energy, transportation, and agriculture. Its operations include iron ore mining, steelmaking, rolling, coating, processing, and distribution, allowing it to offer both commodity and higher-value-added steel products.

The company has industrial and commercial operations across Latin America, including Mexico, Brazil, Argentina, Colombia, and other markets in the region, as well as a presence in the United States and Central America.