Tenaris (NYSE:TS) posted its quarterly earnings results on Wednesday. The industrial products company reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.10, Briefing.com reports. Tenaris had a net margin of 10.21% and a return on equity of 5.74%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same period last year, the firm posted $0.18 EPS. The company’s revenue for the quarter was up 45.7% on a year-over-year basis.
Shares of TS stock traded up $1.61 during trading hours on Thursday, reaching $30.84. The stock had a trading volume of 3,535,100 shares, compared to its average volume of 2,090,399. Tenaris has a twelve month low of $27.98 and a twelve month high of $40.64. The stock has a market cap of $17.30 billion, a PE ratio of 40.05, a price-to-earnings-growth ratio of 0.54 and a beta of 0.55.
A number of research firms have recently issued reports on TS. Guggenheim restated a “buy” rating and issued a $48.00 price target on shares of Tenaris in a research report on Friday, August 3rd. Piper Jaffray Companies set a $44.00 price target on shares of Tenaris and gave the stock a “buy” rating in a research report on Thursday, August 2nd. ValuEngine downgraded shares of Tenaris from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. Credit Suisse Group downgraded shares of Tenaris from an “outperform” rating to a “neutral” rating in a research report on Wednesday, July 11th. Finally, TheStreet downgraded shares of Tenaris from a “b” rating to a “c+” rating in a research report on Wednesday, August 15th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $41.81.
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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