Credit Suisse took its Ternium [TX] rating to the equivalent of Outperform from Neutral, and the price target to $41.5, in a research note dated 2021-01-11. That figure represents around a 27.3% premium from where the company’s shares closed on Friday. Other analysts also revised their coverage, with JP Morgan’s analysts upgrading the shares from “a Neutral” rating to “an Overweight” rating in a research note to investors issued in early November. Meanwhile, JP Morgan had lowered its rating on TX to “Neutral” from the earlier “an Overweight”, in a research note produced for clients June 22, 2020. In addition, there was an upgrade from BofA/Merrill on June 08, 2020. The rater changed TX from “an Underperform” to “a Buy”.
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Is Ternium S.A. [NYSE:TX] a Good Buy Right Now?
It should be noted that TX technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 88% Buy in the last week and compares with 100% Buy in the past month. Data from Ternium S.A.’s Trend Spotter indicated that the signals were Weakening. The stock current average is 0.43 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.45 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.35 million shares.
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TX Price Performance
On Wall Street, Ternium S.A. [NYSE:TX] finished Friday’s session down -1.60% at $32.61. The stock went up to $33.28 at the same session while its lowest single day price was $31.905. In the last five days, it saw a rise of about 12.14%, Ternium S.A. shares gained by almost 12.14% since the beginning of the year. However, the share price has dropped to as low as -3.95% below its one year high. On 01/06/21, the company shares recorded $33.95, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/05/21, the same year at $29.06. The company’s shares have inclined by 45.06% in the past year. The 50-day SMA achieved is $27.06 while the 200-day SMA is $18.84. Volume dropped to 0.41 million from 0.54 million in the previous session.
Ternium S.A. [TX] Valuation Measures
Notably, Ternium S.A. [TX] stock cannot be classified as a good candidate in the listing of underestimated low-priced Steel companies to purchase soonest possible with the prevailing 12-month PE ratio of 26.15. The measure means the stock is exchanging at a premium as compared to the 17.71x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 0.77 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 0.48 which means TX serve an unattractive investment opportunity compared to its competitors.
TX Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 31.92 level, and in case of violation of this particular level, it will cause more drop to 31.22 level. On the upper level, 33.97 is still the key resistance. The stock may increase to the subsequent resistance at 33.29. The Relative Strength Index (RSI) pinned on the 14-day chart is 68.88, implying a neutral technical stance while the MACD stands at 2.28, meaning price will increase in the next trading period. Percent R indicator moved to 25.05%, implying bullish price movement. Stochastic %K at 78.07% suggest selling the stock.
What is the short interest in Ternium S.A.?
Short interest in the Ternium S.A. stock has surged, increasing by 0.17 million shares to total 0.27 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 0.45 million, data from Yahoo Finance shows. The decrease of -64.68% suggests the stock saw some decreased bullish sentiment.
Ternium S.A.’s Biggest Shareholders: Who Owns Ternium S.A. [TX]?
Filings by Lazard Asset Management LLC showed that the firm now holds a total of 8,203,005 shares or roughly 4.18% of the outstanding TX shares. This means their shares have reduced by -695,179 from the 8,203,005 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, Schroder Investment Management Lt updated stake is worth $125,702,896. Details in the latest 13F filings reveal that Oldfield Partners LLP acquired their 42.20% stake valued at $113,626,961 while Schroder Investment Management No added theirs at $82,036,896. During the last quarter, Oldfield Partners LLP raised 1,216,981 of its shares in Ternium S.A. while Schroder Investment Management No bought 339,148 shares. The INCA Investments LLC’s holdings currently number 2,374,964 shares at $77447576.04. According to the firm’s last 13F report, Eastspring Investments shares in the company at filing stood at 2,027,704 shares, roughly $56,187,678.
TX Earnings Forecast For The Current Quarter
Ternium S.A. [TX] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $2.33B and an earnings per share of $0.91 for Dec 2020. Looking further ahead, the company is expected to report revenue of $2.65B at an EPS of $1.46 for Mar 2021. The estimates represent upside of 14.90% and 116.10% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
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TX Earnings Estimates For The Current Year
For the financial year, Ternium S.A. [NYSE:TX] is expected to bring in revenue of $8.39B. The returns are nearly $-1.8 billion lower than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 1.62, lower than that of FY19 by -$1.25. Estimates put this year’s earnings growth at -43.60%, 116.00% for the next, and at an annual 7.70% over the next 5-year period. As for sales, forecasts are for a decrease of -17.70% in the current fiscal year and a further 14.90% over the following year.
