Wall Street analysts forecast that Tenaris SA (NYSE:TS) will announce sales of $1.86 billion for the current quarter, Zacks reports. Four analysts have issued estimates for Tenaris’ earnings. The highest sales estimate is $1.94 billion and the lowest is $1.80 billion. Tenaris reported sales of $1.30 billion in the same quarter last year, which would suggest a positive year over year growth rate of 43.1%. The business is scheduled to announce its next quarterly earnings report on Wednesday, November 7th.
On average, analysts expect that Tenaris will report full-year sales of $7.59 billion for the current fiscal year, with estimates ranging from $7.44 billion to $7.82 billion. For the next year, analysts forecast that the firm will report sales of $8.70 billion, with estimates ranging from $8.30 billion to $8.95 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Tenaris.
Tenaris (NYSE:TS) last posted its quarterly earnings results on Wednesday, August 1st. The industrial products company reported $0.29 EPS for the quarter, meeting the consensus estimate of $0.29. Tenaris had a net margin of 10.21% and a return on equity of 5.74%. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the previous year, the business posted $0.06 EPS. The company’s quarterly revenue was up 43.9% compared to the same quarter last year.
Several research analysts recently commented on the stock. Exane BNP Paribas upgraded shares of Tenaris from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 21st. ValuEngine lowered shares of Tenaris from a “buy” rating to a “hold” rating in a research note on Wednesday, July 18th. Citigroup lowered shares of Tenaris from a “buy” rating to a “neutral” rating in a research note on Friday, August 17th. Piper Jaffray Companies set a $44.00 price objective on shares of Tenaris and gave the stock a “buy” rating in a research note on Thursday, August 2nd. Finally, BTIG Research assumed coverage on shares of Tenaris in a research note on Thursday, June 14th. They set a “buy” rating and a $50.00 price objective for the company. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $42.04.
Several hedge funds have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC boosted its holdings in shares of Tenaris by 50.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 7,208 shares of the industrial products company’s stock valued at $262,000 after acquiring an additional 2,408 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Tenaris by 6.5% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 46,907 shares of the industrial products company’s stock valued at $1,626,000 after purchasing an additional 2,874 shares during the period. SG Americas Securities LLC lifted its stake in shares of Tenaris by 50.6% in the 2nd quarter. SG Americas Securities LLC now owns 10,268 shares of the industrial products company’s stock valued at $374,000 after purchasing an additional 3,452 shares during the period. Royal Bank of Canada lifted its stake in shares of Tenaris by 13.4% in the 1st quarter. Royal Bank of Canada now owns 30,755 shares of the industrial products company’s stock valued at $1,067,000 after purchasing an additional 3,624 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Tenaris by 44.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 15,093 shares of the industrial products company’s stock valued at $523,000 after purchasing an additional 4,626 shares during the period. 13.96% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:TS traded down $0.58 during trading hours on Friday, hitting $33.66. The company’s stock had a trading volume of 1,457,400 shares, compared to its average volume of 2,072,509. Tenaris has a 52 week low of $25.91 and a 52 week high of $40.64. The firm has a market cap of $20.42 billion, a P/E ratio of 44.23, a P/E/G ratio of 0.68 and a beta of 0.57.
Tenaris Company Profile
Tenaris SA 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 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, tubular and non-tubular accessories, and devices.
Further Reading: Call Option
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Tenaris Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenaris and related companies with MarketBeat.com's FREE daily email newsletter.