Zacks Investment Research Lowers Ternium (TX) to Sell

Zacks Investment Research cut shares of Ternium (NYSE:TX) from a hold rating to a sell rating in a research note released on Tuesday.

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. “

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TX has been the subject of several other reports. Santander upgraded Ternium from a hold rating to a buy rating in a research report on Monday, December 18th. ValuEngine upgraded Ternium from a buy rating to a strong-buy rating in a research report on Monday, April 2nd. Scotiabank set a $43.00 target price on Ternium and gave the stock a buy rating in a research report on Thursday, February 8th. Finally, Morgan Stanley upgraded Ternium from an equal weight rating to an overweight rating in a research report on Wednesday, December 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Ternium has a consensus rating of Buy and an average target price of $34.25.

Shares of NYSE TX opened at $34.25 on Tuesday. The firm has a market capitalization of $6,707.86, a PE ratio of 7.59 and a beta of 1.15. Ternium has a fifty-two week low of $22.78 and a fifty-two week high of $39.48. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.55 and a quick ratio of 0.65.

Ternium (NYSE:TX) last announced its quarterly earnings results on Tuesday, February 20th. The basic materials company reported $0.92 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by ($0.03). The company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.57 billion. Ternium had a net margin of 9.28% and a return on equity of 15.65%. Ternium’s revenue for the quarter was up 49.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 earnings per share. equities research analysts predict that Ternium will post 3.51 earnings per share for the current year.

The company also recently declared an annual dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Monday, May 7th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, May 4th. This represents a yield of 3.28%. This is a positive change from Ternium’s previous annual dividend of $0.90. Ternium’s payout ratio is 22.17%.

Hedge funds have recently modified their holdings of the business. Stifel Financial Corp bought a new stake in Ternium during the third quarter worth about $652,000. Copper Rock Capital Partners LLC lifted its stake in Ternium by 31.9% during the fourth quarter. Copper Rock Capital Partners LLC now owns 218,974 shares of the basic materials company’s stock worth $6,882,000 after purchasing an additional 53,005 shares during the last quarter. Sei Investments Co. lifted its stake in Ternium by 57.9% during the third quarter. Sei Investments Co. now owns 23,211 shares of the basic materials company’s stock worth $718,000 after purchasing an additional 8,513 shares during the last quarter. Contrarian Capital Management L.L.C. lifted its stake in Ternium by 3.5% during the third quarter. Contrarian Capital Management L.L.C. now owns 1,172,400 shares of the basic materials company’s stock worth $36,262,000 after purchasing an additional 40,167 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in Ternium during the third quarter worth about $317,000. 18.99% of the stock is owned by hedge funds and other institutional investors.

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Ternium Company Profile

Ternium SA manufactures and processes various steel products in Mexico, Argentina, Bolivia, Chile, Paraguay, Uruguay, Colombia, the United States, Central America, and internationally. The company operates in two segments, Steel and Mining. The Steel segment offers steel products, such as slabs, billets and round bars, hot-rolled coils and sheets, bars and stirrups, wire rods, cold-rolled coils and sheets, tin plates, hot dipped galvanized and electrogalvanized sheets, pre-painted sheets, steel pipes and tubular products, beams, roll formed products, and other products.

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