Tenaris (NYSE:TS) Announces Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Tenaris (NYSE:TS) issued its quarterly earnings data on Wednesday. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.11, Zacks reports. Tenaris had a net margin of 16.91% and a return on equity of 11.72%. The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same period in the previous year, the firm earned $0.94 EPS. Tenaris’s revenue was up 5.3% on a year-over-year basis.

Tenaris Price Performance

Shares of TS stock opened at $49.79 on Thursday. The business’s fifty day moving average price is $42.55 and its 200 day moving average price is $39.05. The firm has a market capitalization of $28.95 billion, a PE ratio of 13.39, a P/E/G ratio of 13.08 and a beta of 0.95. Tenaris has a 1-year low of $30.06 and a 1-year high of $50.21.

Institutional Investors Weigh In On Tenaris

A number of large investors have recently added to or reduced their stakes in TS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Tenaris during the 4th quarter worth $48,000. Raymond James Financial Inc. purchased a new stake in shares of Tenaris in the second quarter worth about $49,000. Advisory Services Network LLC purchased a new position in shares of Tenaris in the third quarter valued at $47,000. Smartleaf Asset Management LLC increased its position in shares of Tenaris by 26.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,707 shares of the industrial products company’s stock worth $66,000 after acquiring an additional 353 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in shares of Tenaris during the 4th quarter valued at approximately $67,000. 10.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on TS. Stifel Nicolaus raised their target price on Tenaris from $37.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. TD Cowen reissued a “buy” rating on shares of Tenaris in a research report on Wednesday, January 7th. Oddo Bhf raised shares of Tenaris to an “outperform” rating in a research note on Thursday, February 5th. Piper Sandler restated a “neutral” rating on shares of Tenaris in a research note on Thursday, December 18th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Tenaris in a report on Monday, December 29th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $42.72.

Tenaris Company Profile

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value?added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.