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

Tenaris (NYSE:TS) announced its earnings results on Wednesday. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.31, Zacks reports. Tenaris had a net margin of 20.23% and a return on equity of 15.36%.

Tenaris Price Performance

Shares of NYSE TS traded down $0.53 during trading on Wednesday, hitting $38.85. 1,737,378 shares of the company were exchanged, compared to its average volume of 1,410,612. The company has a market cap of $22.59 billion, a price-to-earnings ratio of 8.46 and a beta of 1.44. Tenaris has a 1 year low of $27.24 and a 1 year high of $40.72. The firm’s fifty day moving average price is $38.33 and its 200 day moving average price is $34.35.

Wall Street Analysts Forecast Growth

TS has been the topic of a number of analyst reports. StockNews.com lowered shares of Tenaris from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Jefferies Financial Group upgraded shares of Tenaris from a “hold” rating to a “buy” rating and lifted their price objective for the company from $35.00 to $47.00 in a research report on Monday, December 9th. Bank of America lowered shares of Tenaris from a “neutral” rating to an “underperform” rating in a research report on Wednesday, January 29th. Piper Sandler initiated coverage on shares of Tenaris in a research report on Thursday, December 19th. They issued an “overweight” rating and a $48.00 price objective on the stock. Finally, Kepler Capital Markets lowered shares of Tenaris from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock 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.