Tenaris (NYSE:TS) Issues Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Tenaris (NYSE:TS) announced its quarterly earnings data on Wednesday. The industrial products company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.12, Zacks reports. Tenaris had a net margin of 16.91% and a return on equity of 11.72%.

Tenaris Trading Up 0.8%

Shares of TS stock traded up $0.41 during mid-day trading on Wednesday, reaching $49.79. The stock had a trading volume of 1,281,718 shares, compared to its average volume of 1,385,731. Tenaris has a 1-year low of $30.06 and a 1-year high of $50.21. The firm has a market cap of $28.95 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 12.87 and a beta of 0.95. The business’s fifty day moving average is $42.37 and its 200-day moving average is $38.97.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on TS shares. Piper Sandler reiterated a “neutral” rating on shares of Tenaris in a report on Thursday, December 18th. Oddo Bhf upgraded Tenaris to an “outperform” rating in a research note on Thursday, February 5th. Morgan Stanley set a $38.00 price target on shares of Tenaris and gave the company an “underweight” rating in a report on Wednesday, January 21st. Stifel Nicolaus increased their target price on shares of Tenaris from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Tenaris in a research note on Monday, December 29th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $42.72.

Institutional Trading of Tenaris

Several institutional investors and hedge funds have recently bought and sold shares of TS. Sourcerock Group LLC increased its stake in shares of Tenaris by 25.9% in the second quarter. Sourcerock Group LLC now owns 3,086,075 shares of the industrial products company’s stock worth $115,419,000 after acquiring an additional 635,817 shares during the period. Wellington Management Group LLP boosted its holdings in Tenaris by 25.6% in the fourth quarter. Wellington Management Group LLP now owns 2,682,137 shares of the industrial products company’s stock valued at $103,128,000 after purchasing an additional 546,144 shares during the last quarter. Van ECK Associates Corp grew its position in Tenaris by 25.4% during the 4th quarter. Van ECK Associates Corp now owns 2,019,185 shares of the industrial products company’s stock worth $77,638,000 after purchasing an additional 408,592 shares during the period. Balyasny Asset Management L.P. raised its stake in shares of Tenaris by 3.1% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,767,924 shares of the industrial products company’s stock valued at $66,120,000 after buying an additional 53,155 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Tenaris by 8.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,234,828 shares of the industrial products company’s stock valued at $47,481,000 after buying an additional 100,568 shares during the last quarter. 10.45% of the stock is currently owned by institutional investors and hedge funds.

About Tenaris

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.