Ternium S.A. (TX) Rating Lowered to Strong Sell at Zacks Investment Research
Ternium S.A. (NYSE:TX) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Wednesday.
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. “
TX has been the topic of several other research reports. Itau BBA Securities upgraded shares of Ternium from a “market perform” rating to an “outperform” rating in a report on Thursday, November 3rd. Berenberg Bank started coverage on shares of Ternium in a report on Wednesday, November 23rd. They set a “buy” rating and a $28.50 price objective on the stock. HSBC cut shares of Ternium from a “buy” rating to a “hold” rating in a research note on Wednesday, November 9th. Finally, Credit Suisse Group reissued a “hold” rating and issued a $21.00 target price on shares of Ternium in a research note on Tuesday, September 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. Ternium presently has a consensus rating of “Hold” and a consensus target price of $23.66.
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Shares of Ternium (NYSE:TX) traded down 2.40% during trading on Wednesday, reaching $23.22. 371,369 shares of the company’s stock were exchanged. The company has a market capitalization of $4.56 billion, a PE ratio of 12.99 and a beta of 1.29. Ternium has a 52-week low of $10.28 and a 52-week high of $27.00. The company has a 50 day moving average price of $24.60 and a 200-day moving average price of $22.02.
Ternium (NYSE:TX) last released its earnings results on Thursday, November 3rd. The company reported $1.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.29. The firm earned $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. Ternium had a net margin of 5.29% and a return on equity of 11.49%. The business’s revenue was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.13 EPS. On average, equities analysts forecast that Ternium will post $3.01 earnings per share for the current year.
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Institutional investors have recently added to or reduced their stakes in the stock. Smith Asset Management Group LP purchased a new position in Ternium during the second quarter worth approximately $198,000. SignalPoint Asset Management LLC raised its position in Ternium by 7.4% in the second quarter. SignalPoint Asset Management LLC now owns 41,659 shares of the company’s stock worth $794,000 after buying an additional 2,873 shares during the period. Pastel & Associes SA purchased a new position in Ternium during the second quarter worth approximately $7,949,000. First Trust Advisors LP raised its position in Ternium by 5.3% in the second quarter. First Trust Advisors LP now owns 35,234 shares of the company’s stock worth $672,000 after buying an additional 1,763 shares during the period. Finally, AJO LP raised its position in Ternium by 73.1% in the second quarter. AJO LP now owns 263,329 shares of the company’s stock worth $5,019,000 after buying an additional 111,247 shares during the period. Hedge funds and other institutional investors own 22.36% of the company’s stock.
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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