Equities Analysts Decrease Earnings Estimates for Tenaris SA (TS)

Equities Analysts Decrease Earnings Estimates for Tenaris SA (TS)

Tenaris SA (NYSE:TS) – Equities researchers at Jefferies Financial Group dropped their FY2019 earnings per share (EPS) estimates for shares of Tenaris in a research report issued to clients and investors on Thursday, January 10th. Jefferies Financial Group analyst A. Spence now forecasts that the industrial products company will post earnings per share of $1.90 for the year, down from their prior forecast of $1.93.

Several other research firms have also issued reports on TS. UBS Group dropped their target price on Tenaris from $40.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, December 7th. Zacks Investment Research upgraded Tenaris from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a report on Tuesday, November 6th. ValuEngine lowered Tenaris from a “hold” rating to a “sell” rating in a report on Friday, November 23rd. Bank of America upgraded Tenaris from an “underperform” rating to a “buy” rating and upped their target price for the stock from $30.00 to $40.00 in a report on Tuesday, September 25th. Finally, Wolfe Research assumed coverage on Tenaris in a research note on Wednesday, October 10th. They issued a “peer perform” rating on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $40.58.

TS opened at $23.74 on Friday. Tenaris has a 52-week low of $20.45 and a 52-week high of $40.64. The stock has a market cap of $14.08 billion, a P/E ratio of 30.83, a P/E/G ratio of 0.34 and a beta of 0.77.

Tenaris (NYSE:TS) last issued its quarterly earnings results on Wednesday, October 31st. The industrial products company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.10. The company had revenue of $1.90 billion for 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%. The company’s quarterly revenue was up 45.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 earnings per share.

Institutional investors have recently bought and sold shares of the company. Jane Street Group LLC acquired a new stake in Tenaris during the third quarter worth approximately $23,023,000. Cubist Systematic Strategies LLC boosted its holdings in shares of Tenaris by 50.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 7,208 shares of the industrial products company’s stock valued at $262,000 after purchasing an additional 2,408 shares in the last quarter. Ashburton Jersey Ltd boosted its holdings in shares of Tenaris by 82.0% in the 2nd quarter. Ashburton Jersey Ltd now owns 39,948 shares of the industrial products company’s stock valued at $1,454,000 after purchasing an additional 18,000 shares in the last quarter. Jefferies Group LLC boosted its holdings in shares of Tenaris by 164.4% in the 3rd quarter. Jefferies Group LLC now owns 21,574 shares of the industrial products company’s stock valued at $723,000 after purchasing an additional 13,415 shares in the last quarter. Finally, Capital Fund Management S.A. boosted its holdings in shares of Tenaris by 205.2% in the 3rd quarter. Capital Fund Management S.A. now owns 116,300 shares of the industrial products company’s stock valued at $3,898,000 after purchasing an additional 78,200 shares in the last quarter. 13.21% of the stock is currently owned by institutional investors.

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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