Tenaris SA (NYSE:TS) – Analysts at Jefferies Financial Group reduced their FY2019 earnings estimates for shares of Tenaris in a research report issued to clients and investors on Tuesday, April 23rd. Jefferies Financial Group analyst A. Spence now forecasts that the industrial products company will post earnings of $1.76 per share for the year, down from their previous estimate of $1.82. Jefferies Financial Group also issued estimates for Tenaris’ FY2020 earnings at $2.04 EPS.
Other equities analysts also recently issued research reports about the stock. Citigroup raised shares of Tenaris from a “neutral” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Friday, January 18th. Barclays reissued a “buy” rating and issued a $44.00 price objective on shares of Tenaris in a research note on Friday, January 18th. Zacks Investment Research raised Tenaris from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Tuesday, January 22nd. ValuEngine raised Tenaris from a “sell” rating to a “hold” rating in a research report on Friday, March 22nd. Finally, Goldman Sachs Group downgraded Tenaris from a “neutral” rating to a “sell” rating and set a $28.80 price target on the stock. in a research report on Tuesday, March 26th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $37.89.
Shares of NYSE:TS opened at $30.23 on Wednesday. The company has a market capitalization of $17.77 billion, a P/E ratio of 20.43, a price-to-earnings-growth ratio of 0.76 and a beta of 1.03. Tenaris has a 52 week low of $20.45 and a 52 week high of $40.64.
Tenaris (NYSE:TS) last issued its quarterly earnings data on Wednesday, February 20th. The industrial products company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.05). The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.07 billion. Tenaris had a return on equity of 7.45% and a net margin of 11.44%. The business’s quarterly revenue was up 32.5% on a year-over-year basis. During the same period last year, the firm earned $0.14 EPS.
A number of hedge funds have recently modified their holdings of the stock. Enlightenment Research LLC purchased a new position in shares of Tenaris in the fourth quarter valued at $30,000. Macquarie Group Ltd. acquired a new stake in shares of Tenaris in the 4th quarter worth about $42,000. NumerixS Investment Technologies Inc acquired a new stake in shares of Tenaris in the 4th quarter worth about $45,000. Lindbrook Capital LLC bought a new position in shares of Tenaris during the 4th quarter valued at about $72,000. Finally, Glenmede Trust Co. NA bought a new position in shares of Tenaris during the 3rd quarter valued at about $133,000. 14.49% of the stock is owned by hedge funds and other institutional investors.
About Tenaris
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.