Tenaris S.A. (NYSE:TS) rose NaN during trading on Thursday following a stronger than expected earnings report. The company traded as high as $30.59 and last traded at $0.00. Approximately 5,021,559 shares changed hands during mid-day trading, an increase of Infinity from the average daily volume of 0 shares. The industrial products company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.09. Tenaris had a net margin of 7.35% and a return on equity of 2.00%. The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period last year, the company posted $0.03 EPS. The company’s revenue was up 32.0% on a year-over-year basis.

TS has been the subject of a number of recent research reports. BidaskClub raised shares of Tenaris from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Zacks Investment Research raised shares of Tenaris from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Tuesday, July 18th. Scotiabank set a $40.00 target price on shares of Tenaris and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Cowen and Company restated a “hold” rating and set a $30.00 target price on shares of Tenaris in a research report on Tuesday, July 11th. Finally, Berenberg Bank restated a “hold” rating and set a $30.00 target price on shares of Tenaris in a research report on Monday, August 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. Tenaris has an average rating of “Hold” and a consensus target price of $35.61.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. DSAM Partners London Ltd acquired a new stake in Tenaris during the third quarter worth approximately $4,784,000. Crossmark Global Holdings Inc. acquired a new position in shares of Tenaris in the 3rd quarter valued at $1,164,000. Calamos Advisors LLC boosted its holdings in shares of Tenaris by 17.7% in the 3rd quarter. Calamos Advisors LLC now owns 605,199 shares of the industrial products company’s stock valued at $17,133,000 after purchasing an additional 91,191 shares during the last quarter. Calamos Wealth Management LLC acquired a new position in shares of Tenaris in the 3rd quarter valued at $676,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of Tenaris in the 3rd quarter valued at $459,000. Hedge funds and other institutional investors own 15.98% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Tenaris S.A. (TS) Stock Price Up NaN on Earnings Beat” was originally posted by Watch List News and is owned by of Watch List News. If you are accessing this piece of content on another domain, it was illegally copied and reposted in violation of U.S. & international trademark and copyright law. The legal version of this piece of content can be accessed at https://www.watchlistnews.com/tenaris-s-a-ts-stock-price-up-nan-on-earnings-beat/1675223.html.

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.

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 Analyst Ratings Network's FREE daily email newsletter.