Tenaris (NYSE:TS) Releases Quarterly Earnings Results, Beats Estimates By $0.18 EPS

Tenaris (NYSE:TS) released its quarterly earnings data on Wednesday. The industrial products company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.18, reports. Tenaris had a net margin of 20.23% and a return on equity of 15.42%. The business had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.76 billion.

Tenaris Trading Up 2.4 %

Shares of NYSE TS opened at $37.41 on Friday. Tenaris has a twelve month low of $27.24 and a twelve month high of $40.72. The firm has a 50-day moving average of $31.04 and a two-hundred day moving average of $31.43. The company has a market capitalization of $21.75 billion, a price-to-earnings ratio of 8.15 and a beta of 1.43.

Tenaris Cuts Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Tuesday, November 19th will be given a $0.54 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. Tenaris’s dividend payout ratio (DPR) is presently 34.86%.

Analyst Ratings Changes

TS has been the topic of several analyst reports. Stifel Nicolaus lowered their target price on Tenaris from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Piper Sandler lowered their target price on shares of Tenaris from $43.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Finally, StockNews.com lowered shares of Tenaris from a “buy” rating to a “hold” rating in a research note on Saturday, October 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $38.67.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC purchased a new position in Tenaris during the 2nd quarter worth approximately $32,000. Covestor Ltd acquired a new position in Tenaris during the third quarter worth $40,000. Headlands Technologies LLC raised its holdings in Tenaris by 1,486.0% during the first quarter. Headlands Technologies LLC now owns 1,586 shares of the industrial products company’s stock valued at $62,000 after buying an additional 1,486 shares in the last quarter. Blue Trust Inc. grew its holdings in Tenaris by 79.0% during the second quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company’s stock valued at $110,000 after purchasing an additional 1,583 shares during the last quarter. Finally, Naples Global Advisors LLC acquired a new position in Tenaris during the second quarter valued at approximately $233,000. Institutional investors and hedge funds own 10.45% of the company’s stock.

Tenaris Company Profile

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.