Tenaris (NYSE:TS) Posts 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, topping analysts’ consensus estimates of $0.63 by $0.31, Zacks reports. Tenaris had a return on equity of 15.36% and a net margin of 20.23%.

Tenaris Trading Down 1.3 %

TS stock traded down $0.53 during trading on Wednesday, hitting $38.85. 1,737,203 shares of the company’s stock were exchanged, compared to its average volume of 1,410,554. The business has a 50-day moving average price of $38.33 and a two-hundred day moving average price of $34.35. The stock has a market capitalization of $22.59 billion, a price-to-earnings ratio of 8.46 and a beta of 1.44. Tenaris has a 52-week low of $27.24 and a 52-week high of $40.72.

Analyst Upgrades and Downgrades

TS has been the subject of a number of analyst reports. Jefferies Financial Group raised Tenaris from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $35.00 to $47.00 in a research report on Monday, December 9th. StockNews.com downgraded Tenaris from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Kepler Capital Markets downgraded Tenaris from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Bank of America downgraded Tenaris from a “neutral” rating to an “underperform” rating in a research report on Wednesday, January 29th. Finally, Piper Sandler assumed coverage on Tenaris in a research note on Thursday, December 19th. They set an “overweight” rating and a $48.00 target price for the company. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $42.75.

About Tenaris

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.