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

Tenaris (NYSE:TS) issued its earnings results on Wednesday. The industrial products company reported $0.94 earnings per share for the quarter, beating the consensus estimate 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 Price Performance

Shares of TS traded down $0.53 during mid-day trading on Wednesday, reaching $38.85. 1,737,378 shares of the company’s stock were exchanged, compared to its average volume of 1,410,612. The stock has a market capitalization of $22.59 billion, a PE ratio of 8.46 and a beta of 1.44. The business’s fifty day simple moving average is $38.33 and its 200-day simple moving average is $34.35. Tenaris has a 52-week low of $27.24 and a 52-week high of $40.72.

Analyst Upgrades and Downgrades

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