Tenaris (NYSE:TS) Releases Earnings Results, Beats Estimates By $0.21 EPS

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

Tenaris Trading Down 3.0%

Shares of TS traded down $1.71 during mid-day trading on Wednesday, reaching $55.87. The company’s stock had a trading volume of 1,424,286 shares, compared to its average volume of 1,023,386. Tenaris has a 1-year low of $37.69 and a 1-year high of $64.60. The stock has a market cap of $29.95 billion, a P/E ratio of 14.94, a PEG ratio of 1.64 and a beta of 0.89. The business has a 50-day simple moving average of $56.97 and a two-hundred day simple moving average of $56.18.

Wall Street Analysts Forecast Growth

TS has been the topic of several analyst reports. Zacks Research lowered Tenaris from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. TD Cowen raised their price target on Tenaris from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Morgan Stanley boosted their price target on Tenaris from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 14th. Weiss Ratings lowered Tenaris from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, October 6th. Finally, Bank of America increased their price objective on Tenaris from $66.00 to $71.00 and gave the company a “buy” rating in a report on Monday, October 5th. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $61.59.

Tenaris Company Profile

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.