Zacks: Analysts Anticipate Tenaris SA (TS) Will Announce Quarterly Sales of $1.99 Billion

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Wall Street brokerages expect Tenaris SA (NYSE:TS) to announce $1.99 billion in sales for the current quarter, Zacks reports. Four analysts have made estimates for Tenaris’ earnings. The lowest sales estimate is $1.95 billion and the highest is $2.03 billion. Tenaris posted sales of $1.87 billion in the same quarter last year, which suggests a positive year over year growth rate of 6.4%. The company is scheduled to report its next quarterly earnings report after the market closes on Thursday, April 25th.

According to Zacks, analysts expect that Tenaris will report full-year sales of $8.10 billion for the current fiscal year, with estimates ranging from $7.83 billion to $8.58 billion. For the next year, analysts forecast that the firm will report sales of $8.76 billion, with estimates ranging from $8.26 billion to $9.08 billion. Zacks’ 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 earnings results on Wednesday, February 20th. The industrial products company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.05). Tenaris had a return on equity of 7.45% and a net margin of 11.44%. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period in the previous year, the firm posted $0.14 earnings per share. The company’s revenue for the quarter was up 32.5% on a year-over-year basis.

A number of brokerages recently issued reports on TS. Zacks Investment Research upgraded shares of Tenaris from a “strong sell” rating to a “hold” rating in a research note on Friday, March 22nd. ValuEngine downgraded Tenaris from a “hold” rating to a “sell” rating in a research report on Wednesday, April 10th. Citigroup upgraded Tenaris from a “neutral” rating to a “buy” rating and set a $35.00 price objective for the company in a research report on Friday, January 18th. Barclays restated a “buy” rating and set a $44.00 price objective on shares of Tenaris in a research report on Friday, January 18th. Finally, Goldman Sachs Group downgraded Tenaris from a “neutral” rating to a “sell” rating and set a $28.80 price objective for the company. in a research report on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. Tenaris presently has a consensus rating of “Hold” and an average target price of $37.89.

Shares of NYSE TS traded up $0.05 during trading on Friday, reaching $28.42. 31,844 shares of the stock were exchanged, compared to its average volume of 1,992,033. Tenaris has a twelve month low of $20.45 and a twelve month high of $40.64. The stock has a market cap of $16.75 billion, a P/E ratio of 19.24 and a beta of 1.03.

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its stake in shares of Tenaris by 546.0% in the third quarter. BlackRock Inc. now owns 9,555 shares of the industrial products company’s stock valued at $320,000 after buying an additional 8,076 shares during the period. Credit Suisse AG boosted its position in shares of Tenaris by 173.0% during the 3rd quarter. Credit Suisse AG now owns 86,817 shares of the industrial products company’s stock valued at $2,910,000 after purchasing an additional 55,013 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Tenaris by 2,302.8% in the third quarter. Tower Research Capital LLC TRC now owns 7,809 shares of the industrial products company’s stock worth $262,000 after acquiring an additional 7,484 shares in the last quarter. Jefferies Group LLC boosted its holdings in Tenaris by 164.4% in the third quarter. Jefferies Group LLC now owns 21,574 shares of the industrial products company’s stock worth $723,000 after acquiring an additional 13,415 shares in the last quarter. Finally, Paloma Partners Management Co bought a new position in Tenaris in the third quarter worth approximately $478,000. 14.49% of the stock is owned by institutional investors and hedge funds.

About Tenaris

Tenaris SA, through its subsidiaries, produces and sells seamless and welded steel tubular products; and provides 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, perforating guns, tubular accessories, and non-tubular accessories and devices.

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