Tenaris (NYSE:TS) Posts Earnings Results, Beats Estimates By $0.20 EPS

Tenaris (NYSE:TS) released its quarterly earnings data on Wednesday. The industrial products company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.20, Zacks reports. Tenaris had a return on equity of 11.14% and a net margin of 15.88%. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the prior year, the company posted $0.85 earnings per share. The firm’s revenue was up 4.2% on a year-over-year basis.

Tenaris Stock Up 1.6%

Shares of Tenaris stock traded up $0.89 during mid-day trading on Thursday, reaching $56.81. 1,068,074 shares of the stock traded hands, compared to its average volume of 1,514,488. Tenaris has a fifty-two week low of $37.69 and a fifty-two week high of $64.60. The business has a 50-day moving average of $56.97 and a 200 day moving average of $56.18. The stock has a market capitalization of $30.45 billion, a PE ratio of 15.19, a PEG ratio of 1.64 and a beta of 0.89.

Analysts Set New Price Targets

Several research firms recently issued reports on TS. Barclays decreased their price target on Tenaris from $82.00 to $80.00 and set an “overweight” rating on the stock in a report on Monday, August 10th. Wall Street Zen lowered Tenaris from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Zacks Research cut Tenaris from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Bank of America boosted their price objective on Tenaris from $66.00 to $71.00 and gave the company a “buy” rating in a report on Monday, October 5th. Finally, Morgan Stanley lifted their price objective on shares of Tenaris from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Wednesday, October 14th. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.