Tenaris (NYSE:TS) Announces Earnings Results, Beats Estimates By $0.31 EPS

Tenaris (NYSE:TS) announced its quarterly earnings data on Wednesday. The industrial products company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.63 by $0.31, Zacks reports. The company had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.71 billion. Tenaris had a net margin of 16.26% and a return on equity of 11.76%.

Tenaris Trading Down 0.8 %

Shares of TS opened at $38.57 on Friday. The firm has a fifty day simple moving average of $38.33 and a two-hundred day simple moving average of $34.41. The firm has a market cap of $22.42 billion, a PE ratio of 10.68 and a beta of 1.44. Tenaris has a 1-year low of $27.24 and a 1-year high of $40.72.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Bank of America downgraded shares of Tenaris from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 29th. StockNews.com raised Tenaris from a “hold” rating to a “buy” rating in a research report on Thursday. Kepler Capital Markets lowered Tenaris from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Jefferies Financial Group upgraded Tenaris from a “hold” rating to a “buy” rating and boosted their price target for the stock from $35.00 to $47.00 in a research note on Monday, December 9th. Finally, Piper Sandler initiated coverage on Tenaris in a research report on Thursday, December 19th. They set an “overweight” rating and a $48.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $42.75.

Tenaris Company Profile

Tenaris SA, together with its subsidiaries, 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 steel casings, tubing products, mechanical and structural pipes, line pipes, cold-drawn pipes, and premium joints and couplings; and coiled tubing products for oil and gas drilling and workovers, and subsea pipelines.