Tenaris (NYSE:TS) Announces Quarterly Earnings Results

Tenaris (NYSE:TS) announced its quarterly earnings data on Wednesday. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.17, Zacks reports. The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Tenaris had a return on equity of 11.53% and a net margin of 16.17%.Tenaris’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.50 earnings per share.

Tenaris Trading Down 1.4%

TS traded down $0.82 during trading hours on Wednesday, hitting $57.14. The company’s stock had a trading volume of 911,602 shares, compared to its average volume of 1,026,737. The company has a 50-day simple moving average of $57.96 and a 200 day simple moving average of $56.08. The firm has a market capitalization of $30.62 billion, a PE ratio of 15.33, a PEG ratio of 1.38 and a beta of 0.85. Tenaris has a fifty-two week low of $33.65 and a fifty-two week high of $64.60.

Analysts Set New Price Targets

A number of brokerages have issued reports on TS. Zacks Research raised shares of Tenaris from a “hold” rating to a “strong-buy” rating in a report on Friday, July 10th. Barclays upped their price objective on Tenaris to $82.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Morgan Stanley raised Tenaris from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $53.00 to $65.00 in a research report on Wednesday, July 15th. Weiss Ratings cut Tenaris from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, July 10th. Finally, Piper Sandler boosted their price target on shares of Tenaris from $56.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $62.12.

Hedge Funds Weigh In On Tenaris

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Advisory Services Network LLC acquired a new stake in Tenaris during the third quarter valued at approximately $47,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Tenaris in the 4th quarter worth approximately $48,000. Raymond James Financial Inc. acquired a new stake in Tenaris during the second quarter valued at $49,000. Smartleaf Asset Management LLC lifted its holdings in shares of Tenaris by 26.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,707 shares of the industrial products company’s stock valued at $66,000 after buying an additional 353 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in Tenaris in the fourth quarter worth approximately $67,000. Institutional investors own 10.45% of the company’s stock.

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.