Analysts Expect Tenaris SA (NYSE:TS) Will Post Earnings of $0.33 Per Share

Wall Street analysts forecast that Tenaris SA (NYSE:TS) will announce earnings per share of $0.33 for the current quarter, Zacks reports. Five analysts have made estimates for Tenaris’ earnings, with the highest EPS estimate coming in at $0.41 and the lowest estimate coming in at $0.29. Tenaris reported earnings of $0.42 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 21.4%. The firm is scheduled to issue its next earnings results on Wednesday, October 30th.

On average, analysts expect that Tenaris will report full-year earnings of $1.52 per share for the current financial year, with EPS estimates ranging from $1.37 to $1.68. For the next fiscal year, analysts forecast that the firm will report earnings of $1.81 per share, with EPS estimates ranging from $1.52 to $2.02. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Tenaris.

Tenaris (NYSE:TS) last released its earnings results on Wednesday, July 31st. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.06. The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.89 billion. Tenaris had a net margin of 12.28% and a return on equity of 7.97%.

Several research firms recently issued reports on TS. Cowen reissued a “market perform” rating and issued a $28.00 target price (down from $29.00) on shares of Tenaris in a report on Monday, August 5th. TheStreet lowered shares of Tenaris from a “b-” rating to a “c+” rating in a report on Tuesday, August 13th. Wolfe Research raised shares of Tenaris from a “peer perform” rating to an “outperform” rating and set a $28.00 price objective for the company in a report on Wednesday. Morgan Stanley set a $35.00 price objective on shares of Tenaris and gave the company a “buy” rating in a report on Wednesday, July 3rd. Finally, Barclays set a $33.00 price objective on shares of Tenaris and gave the company a “buy” rating in a report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $31.38.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Egerton Capital UK LLP lifted its position in Tenaris by 10.9% in the second quarter. Egerton Capital UK LLP now owns 14,212,420 shares of the industrial products company’s stock worth $373,929,000 after buying an additional 1,401,206 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Tenaris by 65.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 7,241,802 shares of the industrial products company’s stock worth $190,532,000 after purchasing an additional 2,860,516 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Tenaris by 6.3% during the second quarter. Van ECK Associates Corp now owns 1,597,923 shares of the industrial products company’s stock worth $42,041,000 after purchasing an additional 94,100 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Tenaris by 85.9% during the second quarter. Renaissance Technologies LLC now owns 1,424,900 shares of the industrial products company’s stock worth $37,489,000 after purchasing an additional 658,600 shares during the last quarter. Finally, Balyasny Asset Management LLC lifted its position in shares of Tenaris by 836.8% during the second quarter. Balyasny Asset Management LLC now owns 1,116,831 shares of the industrial products company’s stock worth $29,384,000 after purchasing an additional 997,608 shares during the last quarter. Hedge funds and other institutional investors own 14.19% of the company’s stock.

Tenaris stock traded down $0.28 during midday trading on Friday, hitting $21.51. The stock had a trading volume of 2,637,927 shares, compared to its average volume of 3,058,982. The firm’s fifty day moving average is $24.35 and its two-hundred day moving average is $26.19. The company has a market capitalization of $12.86 billion, a PE ratio of 14.53, a P/E/G ratio of 1.48 and a beta of 1.10. Tenaris has a 52-week low of $20.45 and a 52-week high of $35.86. The company has a current ratio of 2.94, a quick ratio of 1.70 and a debt-to-equity ratio of 0.02.

Tenaris Company Profile

Tenaris SA, through its subsidiaries, produces and sells seamless and welded steel tubular products; and provides related services for the oil and gas industry, and other industrial applications. The company offers products for oil and gas drilling operations, such as casing and tubing products, premium connections, drill pipes, coiled tubing, hot-rolled and cold-drawn seamless tubes, perforating guns, tubular accessories, and non-tubular accessories and devices.

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Earnings History and Estimates for Tenaris (NYSE:TS)

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