Brokerages expect that Tenaris SA (NYSE:TS) will report sales of $2.09 billion for the current quarter, according to Zacks. Five analysts have provided estimates for Tenaris’ earnings, with the lowest sales estimate coming in at $2.01 billion and the highest estimate coming in at $2.17 billion. Tenaris posted sales of $1.59 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 31.4%. The business is expected to report its next earnings report on Wednesday, February 20th.
According to Zacks, analysts expect that Tenaris will report full-year sales of $7.64 billion for the current year, with estimates ranging from $7.54 billion to $7.72 billion. For the next financial year, analysts forecast that the business will post sales of $8.69 billion, with estimates ranging from $8.49 billion to $8.97 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 issued its earnings results on Wednesday, October 31st. The industrial products company reported $0.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.10. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.83 billion. Tenaris had a return on equity of 6.94% and a net margin of 11.35%. Tenaris’s revenue was up 45.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.18 EPS.
Several research analysts have recently commented on TS shares. TheStreet lowered Tenaris from a “b” rating to a “c+” rating in a research report on Wednesday, August 15th. Guggenheim reissued a “buy” rating and issued a $48.00 price target on shares of Tenaris in a research report on Friday, August 3rd. Jefferies Financial Group started coverage on Tenaris in a research report on Thursday, August 23rd. They issued a “buy” rating for the company. Stifel Nicolaus started coverage on Tenaris in a research report on Monday, September 10th. They issued a “buy” rating and a $41.00 price target for the company. Finally, Zacks Investment Research raised Tenaris from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research report on Tuesday. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $41.50.
Shares of TS traded down $0.33 during trading hours on Friday, hitting $29.63. The company had a trading volume of 2,090,500 shares, compared to its average volume of 2,084,026. The firm has a market cap of $18.23 billion, a price-to-earnings ratio of 38.48, a PEG ratio of 0.54 and a beta of 0.70. Tenaris has a one year low of $27.98 and a one year high of $40.64.
The firm also recently announced a Semi-Annual dividend, which will be paid on Wednesday, November 21st. Investors of record on Tuesday, November 20th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, November 19th. Tenaris’s dividend payout ratio (DPR) is 145.45%.
Hedge funds have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC purchased a new position in Tenaris during the 1st quarter worth $166,000. Moody National Bank Trust Division purchased a new stake in Tenaris during the 3rd quarter valued at about $180,000. Greenleaf Trust purchased a new stake in Tenaris during the 2nd quarter valued at about $240,000. Seven Eight Capital LP purchased a new stake in Tenaris during the 3rd quarter valued at about $229,000. Finally, BlackRock Inc. grew its stake in Tenaris by 546.0% during the 3rd quarter. BlackRock Inc. now owns 9,555 shares of the industrial products company’s stock valued at $320,000 after purchasing an additional 8,076 shares during the last quarter. Hedge funds and other institutional investors own 13.99% of the company’s stock.
Tenaris Company Profile
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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