Zacks Investment Research downgraded shares of Ternium S.A. (NYSE:TX) from a buy rating to a hold rating in a report published on Wednesday, June 28th.
According to Zacks, “Ternium is the leading producer of flat and long steel products of Latin America and consolidates the operations of the steel companies Hylsa in Mexico, Siderar in Argentina and Sidor in Venezuela. It create value with our customers, jointly improving competitiveness and productivity, through a highly efficient industrial and technological base and a global commercial network. “
Separately, BidaskClub cut Ternium from a hold rating to a sell rating in a research report on Thursday, June 22nd. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Buy and an average target price of $30.50.
Shares of Ternium (TX) traded up 0.66% during mid-day trading on Wednesday, reaching $30.34. 292,675 shares of the company were exchanged. Ternium has a 12 month low of $18.29 and a 12 month high of $31.88. The firm has a 50-day moving average price of $27.83 and a 200 day moving average price of $25.82. The stock has a market capitalization of $5.96 billion, a P/E ratio of 7.81 and a beta of 1.06.
Ternium (NYSE:TX) last announced its quarterly earnings data on Tuesday, April 25th. The basic materials company reported $1.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.52. Ternium had a return on equity of 15.33% and a net margin of 10.37%. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the previous year, the business posted $0.48 EPS. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. Equities research analysts anticipate that Ternium will post $3.26 EPS for the current fiscal year.
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A number of hedge funds have recently made changes to their positions in TX. Cypress Capital Management LLC WY raised its stake in shares of Ternium by 357.3% in the second quarter. Cypress Capital Management LLC WY now owns 5,030 shares of the basic materials company’s stock worth $141,000 after buying an additional 3,930 shares during the last quarter. Atria Investments LLC acquired a new stake in shares of Ternium during the second quarter worth approximately $206,000. Liberty Mutual Group Asset Management Inc. acquired a new stake in shares of Ternium during the first quarter worth approximately $204,000. Capital Fund Management S.A. acquired a new stake in shares of Ternium during the first quarter worth approximately $232,000. Finally, Ameriprise Financial Inc. increased its position in Ternium by 6.5% in the first quarter. Ameriprise Financial Inc. now owns 10,772 shares of the basic materials company’s stock worth $281,000 after buying an additional 654 shares during the period. 21.84% of the stock is owned by institutional investors.
Ternium Company Profile
Ternium SA is a producer of steel products. The Company produces finished and semi-finished steel products and iron ore, which are sold either directly to steel manufacturers, steel processors or end users. The Company operates through two segments: Steel and Mining. The Steel segment includes the sales of steel products and the Mining segment includes the sales of iron ore products, which are primarily inter-company.
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