Tenaris (NYSE:TS) Issues Quarterly Earnings Results

by · The Cerbat Gem

Tenaris (NYSE:TS – Get Free Report) issued its earnings results on Wednesday. The industrial products company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.21, Zacks reports. Tenaris had a net margin of 15.88% and a return on equity of 11.14%. The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.03 billion. During the same period last year, the company posted $0.85 earnings per share. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year.

Tenaris Stock Performance

Tenaris stock traded down $1.71 during midday trading on Wednesday, reaching $55.87. 1,424,286 shares of the company were exchanged, compared to its average volume of 1,023,386. The company has a market capitalization of $29.95 billion, a price-to-earnings ratio of 15.40, a P/E/G ratio of 1.64 and a beta of 0.89. The firm’s 50-day simple moving average is $56.97 and its 200-day simple moving average is $56.18. Tenaris has a 1 year low of $37.69 and a 1 year high of $64.60.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TS. Zacks Research lowered Tenaris from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Weiss Ratings downgraded Tenaris from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, October 6th. Barclays lowered their target price on Tenaris from $82.00 to $80.00 and set an “overweight” rating on the stock in a report on Monday, August 10th. Bank of America raised their price target on Tenaris from $66.00 to $71.00 and gave the company a “buy” rating in a research report on Monday, October 5th. Finally, TD Cowen raised their price target on Tenaris from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Tenaris currently has an average rating of “Hold” and a consensus target price of $61.59.

Read Our Latest Analysis on TS

Tenaris Company Profile

(Get Free Report)

Tenaris SA (NYSE: TS) is a global manufacturer and supplier of steel tubular products and related services. The company primarily serves the energy industry, producing seamless and welded steel pipes used in oil and natural gas exploration, production, transportation and processing. Its offerings include oil country tubular goods, line pipe, premium connections, coiled tubing and sucker rods.

Tenaris also supplies pipes for industrial and mechanical applications, including products used in power generation, automotive manufacturing, construction and other specialized industries.

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