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

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

Tenaris Stock Performance

TS stock opened at $38.57 on Friday. The firm has a 50 day moving average price of $38.33 and a 200-day moving average price of $34.41. Tenaris has a 52-week low of $27.24 and a 52-week high of $40.72. The firm has a market capitalization of $22.42 billion, a price-to-earnings ratio of 10.68 and a beta of 1.44.

Analyst Upgrades and Downgrades

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