Wall Street brokerages expect Tenaris SA (NYSE:TS) to report sales of $1.87 billion for the current quarter, according to Zacks. Three analysts have made estimates for Tenaris’ earnings, with estimates ranging from $1.80 billion to $1.94 billion. Tenaris posted sales of $1.30 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 43.8%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, November 7th.

According to Zacks, analysts expect that Tenaris will report full year sales of $7.61 billion for the current year, with estimates ranging from $7.44 billion to $7.82 billion. For the next year, analysts forecast that the firm will report sales of $8.65 billion per share, with estimates ranging from $8.30 billion to $8.92 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Tenaris.

Tenaris (NYSE:TS) last posted its quarterly earnings data on Wednesday, August 1st. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.29. Tenaris had a net margin of 10.21% and a return on equity of 5.74%. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter last year, the company posted $0.06 earnings per share. The firm’s quarterly revenue was up 43.9% compared to the same quarter last year.

A number of analysts recently issued reports on TS shares. ValuEngine upgraded shares of Tenaris from a “hold” rating to a “buy” rating in a report on Wednesday, June 27th. BTIG Research started coverage on shares of Tenaris in a report on Thursday, June 14th. They set a “buy” rating and a $50.00 price objective for the company. Guggenheim restated a “buy” rating and set a $48.00 price objective on shares of Tenaris in a report on Friday, August 3rd. Piper Jaffray Companies set a $44.00 price objective on shares of Tenaris and gave the stock a “buy” rating in a report on Thursday, August 2nd. Finally, Jefferies Financial Group started coverage on shares of Tenaris in a report on Thursday, August 23rd. They set a “buy” rating for the company. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Tenaris currently has a consensus rating of “Hold” and a consensus price target of $42.32.

NYSE TS opened at $32.79 on Wednesday. Tenaris has a 52-week low of $25.91 and a 52-week high of $40.64. The stock has a market cap of $19.80 billion, a P/E ratio of 42.58, a P/E/G ratio of 0.64 and a beta of 0.58.

Several institutional investors and hedge funds have recently bought and sold shares of TS. Egerton Capital UK LLP purchased a new position in shares of Tenaris in the second quarter worth about $247,843,000. Millennium Management LLC increased its stake in shares of Tenaris by 148.9% in the first quarter. Millennium Management LLC now owns 4,392,857 shares of the industrial products company’s stock worth $152,300,000 after purchasing an additional 2,628,095 shares in the last quarter. Arosa Capital Management LP purchased a new position in shares of Tenaris in the first quarter worth about $48,191,000. Renaissance Technologies LLC purchased a new position in shares of Tenaris in the second quarter worth about $24,676,000. Finally, Point72 Asset Management L.P. increased its stake in shares of Tenaris by 189.0% in the second quarter. Point72 Asset Management L.P. now owns 418,400 shares of the industrial products company’s stock worth $15,226,000 after purchasing an additional 273,600 shares in the last quarter. Hedge funds and other institutional investors own 13.97% of the company’s stock.

About Tenaris

Tenaris SA produces and sells seamless and welded steel tubular products and related services for the oil and gas industry, and other industrial applications. The company offers products for oil and gas drilling operations, such as casing and tubing products, premium connections, drill pipes, coiled tubing, hot-rolled and cold-drawn seamless tubes, tubular and non-tubular accessories, and devices.

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