Tenaris (NYSE:TS) Issues Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Tenaris (NYSE:TS) posted its earnings results on Wednesday. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.11, Zacks reports. Tenaris had a return on equity of 11.27% and a net margin of 16.13%.The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter last year, the firm earned $0.94 earnings per share. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year.

Tenaris Stock Performance

NYSE TS opened at $53.64 on Friday. The firm has a market cap of $31.19 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 13.18 and a beta of 0.95. The firm has a 50 day simple moving average of $42.81 and a 200-day simple moving average of $39.15. Tenaris has a one year low of $30.06 and a one year high of $54.60.

Tenaris Announces Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, May 20th. Stockholders of record on Tuesday, May 19th will be given a dividend of $1.20 per share. This represents a dividend yield of 450.0%. The ex-dividend date of this dividend is Tuesday, May 19th. Tenaris’s dividend payout ratio is currently 31.18%.

Analyst Upgrades and Downgrades

TS has been the subject of a number of research analyst reports. Oddo Bhf upgraded Tenaris to an “outperform” rating in a report on Thursday, February 5th. Morgan Stanley set a $38.00 target price on shares of Tenaris and gave the company an “underweight” rating in a research report on Wednesday, January 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Tenaris in a research report on Monday, December 29th. TD Cowen boosted their price target on shares of Tenaris from $48.00 to $59.00 and gave the company a “buy” rating in a research note on Friday. Finally, Wall Street Zen lowered shares of Tenaris from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $45.43.

Hedge Funds Weigh In On Tenaris

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TS. Commonwealth Equity Services LLC grew its stake in shares of Tenaris by 2.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 11,469 shares of the industrial products company’s stock worth $441,000 after acquiring an additional 241 shares in the last quarter. Rhumbline Advisers lifted its stake in Tenaris by 4.2% in the second quarter. Rhumbline Advisers now owns 8,387 shares of the industrial products company’s stock worth $314,000 after acquiring an additional 338 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Tenaris by 2.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,229 shares of the industrial products company’s stock worth $616,000 after acquiring an additional 352 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Tenaris by 26.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,707 shares of the industrial products company’s stock valued at $66,000 after purchasing an additional 353 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Tenaris by 1.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 23,591 shares of the industrial products company’s stock valued at $844,000 after purchasing an additional 437 shares during the last quarter. Hedge funds and other institutional investors own 10.45% of the company’s stock.

About Tenaris

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value‑added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.