Tenaris (NYSE:TS) Posts Quarterly Earnings Results, Misses Estimates By $0.38 EPS

Tenaris (NYSE:TS) announced its quarterly earnings results on Wednesday. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.38), Briefing.com reports. Tenaris had a return on equity of 21.11% and a net margin of 24.89%. The firm had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $170.13 million. During the same period last year, the company posted $1.90 earnings per share. The business’s quarterly revenue was down 18.5% on a year-over-year basis.

Tenaris Price Performance

NYSE TS traded down $3.17 during mid-day trading on Thursday, hitting $28.67. The stock had a trading volume of 5,623,688 shares, compared to its average volume of 1,995,489. The firm’s 50 day moving average is $31.60 and its 200 day moving average is $34.16. The stock has a market capitalization of $16.67 billion, a price-to-earnings ratio of 4.81 and a beta of 1.46. Tenaris has a twelve month low of $28.62 and a twelve month high of $40.72.

Wall Street Analysts Forecast Growth

Several analysts have commented on TS shares. Piper Sandler dropped their price objective on Tenaris from $43.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Morgan Stanley lowered shares of Tenaris from an “overweight” rating to an “underweight” rating and set a $40.00 price target for the company. in a report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $40.00.

About Tenaris

Tenaris SA, together with its subsidiaries, 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 steel casings, tubing products, mechanical and structural pipes, line pipes, cold-drawn pipes, and premium joints and couplings; and coiled tubing products for oil and gas drilling and workovers, and subsea pipelines.