Zacks: Analysts Anticipate Tenaris S.A. (TS) Will Announce Quarterly Sales of $1.29 Billion

Analysts expect Tenaris S.A. (NYSE:TS) to post $1.29 billion in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Tenaris’ earnings, with estimates ranging from $1.21 billion to $1.38 billion. Tenaris reported sales of $1.05 billion in the same quarter last year, which would suggest a positive year over year growth rate of 22.9%. The business is scheduled to report its next earnings results after the market closes on Wednesday, November 1st.

On average, analysts expect that Tenaris will report full year sales of $1.29 billion for the current financial year, with estimates ranging from $5.10 billion to $5.22 billion. For the next financial year, analysts expect that the firm will report sales of $5.82 billion per share, with estimates ranging from $5.55 billion to $5.98 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Tenaris.

A number of research firms recently weighed in on TS. Cowen and Company set a $28.00 price target on shares of Tenaris and gave the company a “hold” rating in a research report on Friday. BidaskClub lowered shares of Tenaris from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th. Berenberg Bank reissued a “hold” rating and set a $30.00 price target on shares of Tenaris in a research report on Monday, August 7th. Scotiabank set a $40.00 price target on shares of Tenaris and gave the company a “buy” rating in a research report on Thursday, August 3rd. Finally, Zacks Investment Research lowered shares of Tenaris from a “buy” rating to a “hold” rating in a research report on Saturday, July 22nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. Tenaris has a consensus rating of “Hold” and a consensus target price of $35.35.

TRADEMARK VIOLATION WARNING: This report was published by BBNS and is owned by of BBNS. If you are reading this report on another site, it was illegally stolen and republished in violation of US & international copyright & trademark law. The correct version of this report can be viewed at https://baseballnewssource.com/markets/zacks-analysts-anticipate-tenaris-s-a-ts-will-announce-quarterly-sales-of-1-29-billion/1699077.html.

A number of hedge funds have recently made changes to their positions in the business. Westwood Holdings Group Inc. raised its position in Tenaris by 32.8% in the second quarter. Westwood Holdings Group Inc. now owns 1,562,694 shares of the industrial products company’s stock worth $48,662,000 after acquiring an additional 386,132 shares during the period. BlueCrest Capital Management Ltd raised its position in Tenaris by 3.0% in the second quarter. BlueCrest Capital Management Ltd now owns 118,958 shares of the industrial products company’s stock worth $3,704,000 after acquiring an additional 3,431 shares during the period. Royal Bank of Canada raised its position in Tenaris by 568.8% in the second quarter. Royal Bank of Canada now owns 149,861 shares of the industrial products company’s stock worth $4,666,000 after acquiring an additional 127,453 shares during the period. GLG Partners LP raised its position in Tenaris by 58.4% in the second quarter. GLG Partners LP now owns 130,668 shares of the industrial products company’s stock worth $4,069,000 after acquiring an additional 48,178 shares during the period. Finally, Virtu KCG Holdings LLC bought a new stake in Tenaris in the second quarter worth about $309,000. 15.97% of the stock is currently owned by institutional investors and hedge funds.

Tenaris (NYSE TS) opened at 27.90 on Friday. The stock’s 50 day moving average is $27.89 and its 200 day moving average is $30.44. The firm has a market capitalization of $16.47 billion, a price-to-earnings ratio of 49.82 and a beta of 0.66. Tenaris has a 1-year low of $26.48 and a 1-year high of $37.21.

Tenaris Company Profile

Tenaris SA is a holding company, which is a steel producer with production facilities in Mexico, Argentina, Colombia, United States and Guatemala. The Company supplies round steel bars and flat steel products for its pipes business. It operates through Tubes business segment. The Tubes segment includes the production and sale of both seamless and welded steel tubular products, and related services primarily for the oil and gas industry, principally oil country tubular goods (OCTG) used in drilling operations, and for other industrial applications with production processes that include in the transformation of steel into tubular products.

Get a free copy of the Zacks research report on Tenaris (TS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Tenaris (NYSE:TS)

Receive News & Ratings for Tenaris S.A. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenaris S.A. and related companies with our FREE daily email newsletter.

 


Latest News

Justin Turner Joining Postseason Legends
Justin Turner Joining Postseason Legends
PED Use Cost Alex Rodriguez Millions and His Reputation
PED Use Cost Alex Rodriguez Millions and His Reputation
Yankees to Send Masahiro Tanaka Against Astros in Game 1
Yankees to Send Masahiro Tanaka Against Astros in Game 1
Red Sox Waste Little Time in Firing John Farrell
Red Sox Waste Little Time in Firing John Farrell
Washington Nationals Sans Strasburg for Game 4 at Wrigley
Washington Nationals Sans Strasburg for Game 4 at Wrigley
Red Sox Beat Houston Sunday to Avoid Elimination
Red Sox Beat Houston Sunday to Avoid Elimination


Leave a Reply

 
© 2006-2017 BBNS.