Tenaris (TS) Releases Quarterly Earnings, Beats Expectations By $0.02 EPS
Tenaris (NYSE:TS) issued its quarterly earnings data on Thursday. The company reported $0.36 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.34 by $0.02, ARN reports. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter last year, the company posted $0.36 earnings per share. Tenaris’s revenue was down 3.7% compared to the same quarter last year.
A number of research firms have recently commented on TS. Analysts at Zacks upgraded shares of Tenaris from an “underperform” rating to a “neutral” rating in a research note on Wednesday, February 26th. They now have a $42.70 price target on the stock. On the ratings front, analysts at Barclays cut their price target on shares of Tenaris from $49.00 to $45.00 in a research note on Monday, February 24th. They now have an “equal weight” rating on the stock. Finally, analysts at Banca Akros downgraded shares of Tenaris to a “hold” rating in a research note on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $46.87.
Tenaris (NYSE:TS) traded down 0.50% on Thursday, hitting $43.83. 2,012,006 shares of the company’s stock traded hands. Tenaris has a 52-week low of $38.47 and a 52-week high of $49.87. The stock has a 50-day moving average of $43.87 and a 200-day moving average of $44.30. The company has a market cap of $25.871 billion and a price-to-earnings ratio of 16.76.
Tenaris SA is a Luxembourg-based holding company engaged in the steel pipe manufacturing and distributing businesses.
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