Ternium SA (NYSE:TX) has been given an average recommendation of “Hold” by the thirteen ratings firms that are covering the firm, Marketbeat.com reports. Twelve research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $25.58.
TX has been the topic of several research analyst reports. Morgan Stanley downgraded Ternium from an “overweight” rating to an “equal weight” rating and set a $27.00 price objective on the stock. in a report on Monday, August 12th. Zacks Investment Research upgraded Ternium from a “sell” rating to a “hold” rating in a report on Sunday. Citigroup set a $19.00 price target on Ternium and gave the stock a “hold” rating in a report on Thursday, October 10th. ValuEngine upgraded Ternium from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Bradesco Corretora restated a “neutral” rating and set a $19.00 price target on shares of Ternium in a report on Tuesday, August 13th.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oldfield Partners LLP boosted its position in shares of Ternium by 3.2% in the 3rd quarter. Oldfield Partners LLP now owns 2,443,532 shares of the basic materials company’s stock valued at $46,892,000 after purchasing an additional 75,500 shares during the period. Pictet Asset Management Ltd. lifted its position in Ternium by 17.9% during the 2nd quarter. Pictet Asset Management Ltd. now owns 766,349 shares of the basic materials company’s stock worth $17,189,000 after acquiring an additional 116,371 shares during the period. Amundi Pioneer Asset Management Inc. lifted its position in Ternium by 11.4% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 583,019 shares of the basic materials company’s stock worth $13,078,000 after acquiring an additional 59,483 shares during the period. Strategic Global Advisors LLC lifted its position in Ternium by 7.3% during the 2nd quarter. Strategic Global Advisors LLC now owns 460,959 shares of the basic materials company’s stock worth $10,339,000 after acquiring an additional 31,188 shares during the period. Finally, Royal Bank of Canada lifted its position in Ternium by 10.4% during the 2nd quarter. Royal Bank of Canada now owns 358,478 shares of the basic materials company’s stock worth $8,041,000 after acquiring an additional 33,848 shares during the period. Institutional investors and hedge funds own 18.50% of the company’s stock.
Ternium (NYSE:TX) last posted its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.48. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.57 billion. Ternium had a return on equity of 11.07% and a net margin of 7.96%. The company’s quarterly revenue was down 19.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.67 EPS. On average, equities analysts forecast that Ternium will post 2.94 EPS for the current year.
Ternium SA, through its subsidiaries, manufactures and processes various steel products in Mexico, Argentina, Paraguay, Chile, Bolivia, Uruguay, Brazil, the United States, Colombia, Guatemala, Costa Rica, Honduras, El Salvador, and Nicaragua. It operates in two segments, Steel and Mining. The Steel segment offers steel products, including slabs, billets and round bars, hot rolled flat products, merchant bars, reinforcing bars, stirrups and rods, tin plate and galvanized products, tubes, beams, insulated panels, roofing and cladding, roof tiles, steel decks, pre-engineered metal building systems, and pig iron; and sells energy.
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