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

Tenaris (NYSE:TS) issued 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 net margin of 20.23% and a return on equity of 15.36%.

Tenaris Stock Down 1.3 %

NYSE TS traded down $0.53 during trading on Wednesday, hitting $38.85. The stock had a trading volume of 1,737,203 shares, compared to its average volume of 1,410,554. The company has a market capitalization of $22.59 billion, a PE ratio of 8.46 and a beta of 1.44. The firm has a 50 day moving average price of $38.33 and a 200 day moving average price of $34.35. Tenaris has a twelve month low of $27.24 and a twelve month high of $40.72.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Kepler Capital Markets cut shares of Tenaris from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Piper Sandler began coverage on Tenaris in a report on Thursday, December 19th. They issued an “overweight” rating and a $48.00 price objective on the stock. Jefferies Financial Group upgraded Tenaris from a “hold” rating to a “buy” rating and raised their price objective for the company from $35.00 to $47.00 in a report on Monday, December 9th. Bank of America lowered Tenaris from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 29th. Finally, StockNews.com lowered Tenaris from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price 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.