Jefferies Financial Group Equities Analysts Increase Earnings Estimates for Tenaris S.A. (NYSE:TS)

Tenaris S.A. (NYSE:TS) – Investment analysts at Jefferies Financial Group raised their FY2021 earnings per share (EPS) estimates for shares of Tenaris in a report issued on Monday, October 11th. Jefferies Financial Group analyst A. Spence now expects that the industrial products company will post earnings of $1.46 per share for the year, up from their prior forecast of $1.16. Jefferies Financial Group also issued estimates for Tenaris’ FY2022 earnings at $1.31 EPS.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Wednesday, August 4th. The industrial products company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.20 by $0.30. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Tenaris had a net margin of 9.76% and a return on equity of 4.13%.

Several other brokerages have also recently issued reports on TS. Barclays upped their target price on shares of Tenaris from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday, August 26th. Credit Suisse Group restated an “underperform” rating on shares of Tenaris in a research report on Thursday, September 30th. Zacks Investment Research cut shares of Tenaris from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 8th. Finally, Morgan Stanley upped their target price on shares of Tenaris from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Friday, July 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $22.75.

Shares of NYSE TS opened at $22.15 on Wednesday. The firm’s 50-day moving average price is $20.36 and its 200-day moving average price is $21.49. The company has a current ratio of 3.20, a quick ratio of 1.73 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $13.07 billion, a price-to-earnings ratio of 27.69 and a beta of 1.88. Tenaris has a 12-month low of $8.86 and a 12-month high of $24.15.

A number of hedge funds have recently modified their holdings of the business. Crossmark Global Holdings Inc. bought a new position in Tenaris in the 3rd quarter worth about $421,000. Thrivent Financial for Lutherans grew its stake in Tenaris by 3.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 745,641 shares of the industrial products company’s stock worth $16,329,000 after acquiring an additional 27,371 shares in the last quarter. Parametric Portfolio Associates LLC grew its stake in Tenaris by 1.0% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,321,400 shares of the industrial products company’s stock worth $28,939,000 after acquiring an additional 12,813 shares in the last quarter. Morgan Stanley grew its stake in Tenaris by 143.7% in the 2nd quarter. Morgan Stanley now owns 204,700 shares of the industrial products company’s stock worth $4,483,000 after acquiring an additional 120,699 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in Tenaris by 35.7% in the 2nd quarter. Wells Fargo & Company MN now owns 6,297 shares of the industrial products company’s stock worth $138,000 after acquiring an additional 1,656 shares in the last quarter. Institutional investors and hedge funds own 9.33% of the company’s stock.

Tenaris Company Profile

Tenaris SA manufactures and supplies steel pipe products. The firm operates through the following business segments: Tubes and Other. The Tubes segment includes the production and sale of both seamless and welded steel tubular products and related services mainly for the oil and gas industry, particularly oil country tubular goods used in drilling operations, and for other industrial applications with production processes that consist in the transformation of steel into tubular products.

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Earnings History and Estimates for Tenaris (NYSE:TS)

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