Brokerages expect Tenaris (NYSE:TS) to report $1.72 billion in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Tenaris’ earnings, with the lowest sales estimate coming in at $1.50 billion and the highest estimate coming in at $1.87 billion. Tenaris reported sales of $1.24 billion in the same quarter last year, which indicates a positive year over year growth rate of 38.7%. The business is expected to report its next earnings report on Wednesday, August 1st.
On average, analysts expect that Tenaris will report full-year sales of $7.38 billion for the current year, with estimates ranging from $6.65 billion to $7.82 billion. For the next fiscal year, analysts forecast that the firm will report sales of $8.70 billion per share, with estimates ranging from $6.88 billion to $10.54 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Tenaris.
Tenaris (NYSE:TS) last posted its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.06. Tenaris had a net margin of 9.58% and a return on equity of 4.95%. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.49 billion.
Several research analysts have commented on TS shares. Zacks Investment Research raised Tenaris from a “hold” rating to a “strong-buy” rating and set a $40.00 price target on the stock in a research report on Thursday, March 1st. Morgan Stanley lifted their price target on Tenaris from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Loop Capital lifted their price target on Tenaris from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, March 22nd. Capital One raised Tenaris from an “equal weight” rating to an “overweight” rating in a research report on Friday, April 27th. Finally, Cowen lifted their price target on Tenaris from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, May 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $39.54.
Several hedge funds have recently made changes to their positions in TS. Millennium Management LLC grew its stake in shares of Tenaris by 148.9% in the 1st quarter. Millennium Management LLC now owns 4,392,857 shares of the industrial products company’s stock valued at $152,300,000 after purchasing an additional 2,628,095 shares during the last quarter. Arosa Capital Management LP purchased a new position in shares of Tenaris in the 1st quarter valued at approximately $48,191,000. Luminus Management LLC grew its stake in shares of Tenaris by 30.2% in the 4th quarter. Luminus Management LLC now owns 3,562,689 shares of the industrial products company’s stock valued at $113,508,000 after purchasing an additional 826,285 shares during the last quarter. FNY Partners Fund LP grew its stake in shares of Tenaris by 317.5% in the 4th quarter. FNY Partners Fund LP now owns 444,600 shares of the industrial products company’s stock valued at $14,164,000 after purchasing an additional 338,100 shares during the last quarter. Finally, AGF Investments Inc. grew its stake in shares of Tenaris by 76.9% in the 4th quarter. AGF Investments Inc. now owns 563,484 shares of the industrial products company’s stock valued at $17,953,000 after purchasing an additional 245,010 shares during the last quarter. Institutional investors own 14.38% of the company’s stock.
TS opened at $38.92 on Thursday. Tenaris has a 52 week low of $25.91 and a 52 week high of $40.64. The firm has a market cap of $23.66 billion, a price-to-earnings ratio of 50.55, a price-to-earnings-growth ratio of 0.83 and a beta of 0.69.
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.
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