Ternium S.A. Given Equal Weight Rating at Morgan Stanley (TX)
Ternium S.A. (NYSE:TX)‘s stock had its “equal weight” rating reaffirmed by Morgan Stanley in a research note issued on Thursday. They currently have a $29.90 price objective on the stock, down from their previous price objective of $30.20. Morgan Stanley’s price target would indicate a potential upside of 0.23% from the company’s current price.
The analysts wrote, “We are adjusting Ternium’s model on the back of our commodities team’s lower IO price scenario, the expected ARS depreciation, and increasing domestic costs in Argentina. As a result, we are reducing our 2014–16 EBITDA estimates by 3–5% and our PT to US$29.9/ADS from US$30.2.”
Shares of Ternium S.A. (NYSE:TX) opened at 29.83 on Thursday. Ternium S.A. has a one year low of $21.48 and a one year high of $32.99. The stock’s 50-day moving average is $28.08 and its 200-day moving average is $29.45. The company has a market cap of $5.856 billion and a price-to-earnings ratio of 11.81.
Ternium S.A. (NYSE:TX) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.76 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.81 by $0.05. The company had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the prior year, the company posted $0.66 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis. On average, analysts predict that Ternium S.A. will post $3.03 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet upgraded shares of Ternium S.A. from a “sell” rating to a “buy” rating in a research note on Friday, May 30th. Separately, analysts at Zacks downgraded shares of Ternium S.A. from a “neutral” rating to an “underperform” rating in a research note on Monday, April 28th. They now have a $28.50 price target on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Ternium S.A. in a research note on Wednesday, April 16th. They now have a $29.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $28.85.
Ternium SA (NYSE:TX) is a steel producer in Latin America.
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