Analysts expect Tenaris S.A. (NYSE:TS) to post sales of $1.32 billion for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Tenaris’ earnings. The lowest sales estimate is $1.30 billion and the highest is $1.35 billion. Tenaris reported sales of $1.05 billion during the same quarter last year, which would suggest a positive year over year growth rate of 25.7%. The firm is scheduled to announce its next quarterly earnings results on Thursday, November 2nd.

On average, analysts expect that Tenaris will report full year sales of $1.32 billion for the current year, with estimates ranging from $5.10 billion to $5.27 billion. For the next financial year, analysts forecast that the firm will report sales of $6.14 billion per share, with estimates ranging from $5.98 billion to $6.38 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Tenaris.

TS has been the topic of several recent research reports. Scotiabank restated a “buy” rating and issued a $40.00 price target on shares of Tenaris in a research report on Monday, May 1st. Zacks Investment Research upgraded Tenaris from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Tuesday, July 18th. Morgan Stanley reduced their price target on Tenaris from $44.00 to $38.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 21st. Simmons restated an “overweight” rating and issued a $35.50 price target (down from $39.00) on shares of Tenaris in a research report on Wednesday, June 21st. Finally, Loop Capital upgraded Tenaris from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research report on Wednesday, May 17th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $35.35.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Harding Loevner LP raised its position in Tenaris by 2.0% in the second quarter. Harding Loevner LP now owns 14,598,727 shares of the industrial products company’s stock valued at $454,604,000 after buying an additional 281,911 shares in the last quarter. Van ECK Associates Corp raised its position in Tenaris by 0.4% in the first quarter. Van ECK Associates Corp now owns 3,584,733 shares of the industrial products company’s stock valued at $122,383,000 after buying an additional 15,672 shares in the last quarter. Ruffer LLP raised its position in Tenaris by 20.4% in the first quarter. Ruffer LLP now owns 3,137,174 shares of the industrial products company’s stock valued at $104,916,000 after buying an additional 532,168 shares in the last quarter. Wellington Management Group LLP raised its position in Tenaris by 6.1% in the first quarter. Wellington Management Group LLP now owns 2,717,620 shares of the industrial products company’s stock valued at $92,779,000 after buying an additional 155,257 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in Tenaris by 95.8% in the first quarter. Wells Fargo & Company MN now owns 1,548,753 shares of the industrial products company’s stock valued at $52,875,000 after buying an additional 757,748 shares in the last quarter. Hedge funds and other institutional investors own 18.67% of the company’s stock.

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Shares of Tenaris (NYSE:TS) opened at 27.71 on Friday. The stock has a 50 day moving average price of $30.80 and a 200 day moving average price of $32.06. Tenaris has a one year low of $25.19 and a one year high of $37.21. The firm has a market cap of $16.36 billion, a price-to-earnings ratio of 49.48 and a beta of 0.63.

About Tenaris

Tenaris SA is a holding company, which is a steel producer with production facilities in Mexico, Argentina, Colombia, United States and Guatemala. The Company supplies round steel bars and flat steel products for its pipes business. It operates through Tubes business segment. The Tubes segment includes the production and sale of both seamless and welded steel tubular products, and related services primarily for the oil and gas industry, principally oil country tubular goods (OCTG) used in drilling operations, and for other industrial applications with production processes that include in the transformation of steel into tubular products.

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