Tenaris (NYSE:TS) Announces Earnings Results

Tenaris (NYSE:TS) announced its quarterly earnings data on Wednesday. The industrial products company reported $1.01 EPS for the quarter, topping 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 the consensus estimate of $3.03 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. Tenaris’s quarterly revenue was up 4.2% on a year-over-year basis.

Tenaris Stock Performance

NYSE:TS traded down $1.71 during trading hours on Wednesday, hitting $55.87. The company’s stock had a trading volume of 1,424,286 shares, compared to its average volume of 1,023,386. The business’s 50-day moving average is $56.97 and its two-hundred day moving average is $56.18. The company has a market capitalization of $29.95 billion, a PE ratio of 15.40, a PEG ratio of 1.64 and a beta of 0.89. Tenaris has a 52-week low of $37.69 and a 52-week high of $64.60.

Analysts Set New Price Targets

Several analysts have recently weighed in on TS shares. Barclays lowered their target price on shares of Tenaris from $82.00 to $80.00 and set an “overweight” rating on the stock in a report on Monday, August 10th. TD Cowen increased their price target on shares of Tenaris from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Bank of America increased their price target on shares of Tenaris from $66.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, October 5th. Weiss Ratings downgraded shares of Tenaris from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, October 6th. Finally, Morgan Stanley lifted their price objective on Tenaris from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Wednesday, October 14th. Five investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target 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.