Tenaris SA (NYSE:TS) – Analysts at Capital One Financial raised their Q4 2019 earnings estimates for Tenaris in a research note issued to investors on Tuesday, January 7th, according to Zacks Investment Research. Capital One Financial analyst L. Lemoine now expects that the industrial products company will earn $0.24 per share for the quarter, up from their prior estimate of $0.16.
Several other equities research analysts have also recently weighed in on the company. BTIG Research reaffirmed a “buy” rating on shares of Tenaris in a research note on Tuesday, January 14th. Barclays reissued a “buy” rating and issued a $30.00 target price on shares of Tenaris in a report on Tuesday, November 5th. Zacks Investment Research downgraded Tenaris from a “hold” rating to a “strong sell” rating in a report on Friday, November 15th. Morgan Stanley downgraded Tenaris from an “overweight” rating to an “equal weight” rating in a report on Thursday, November 7th. Finally, ValuEngine raised Tenaris from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $29.47.
TS stock traded down $0.65 during midday trading on Thursday, hitting $20.69. The stock had a trading volume of 3,149,931 shares, compared to its average volume of 2,246,278. The firm has a market cap of $12.21 billion, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 4.10 and a beta of 1.23. The business has a 50-day moving average of $22.59 and a two-hundred day moving average of $22.23. Tenaris has a 52-week low of $19.90 and a 52-week high of $30.32. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.98 and a quick ratio of 1.76.
Tenaris (NYSE:TS) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.13). The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Tenaris had a return on equity of 6.75% and a net margin of 10.66%. Tenaris’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.42 earnings per share.
Large investors have recently made changes to their positions in the company. Quantamental Technologies LLC bought a new position in shares of Tenaris during the second quarter valued at $97,000. Lindbrook Capital LLC lifted its holdings in shares of Tenaris by 26.6% during the third quarter. Lindbrook Capital LLC now owns 3,894 shares of the industrial products company’s stock valued at $82,000 after purchasing an additional 819 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Tenaris by 94.1% during the second quarter. Royal Bank of Canada now owns 4,922 shares of the industrial products company’s stock valued at $130,000 after purchasing an additional 2,386 shares in the last quarter. Rehmann Capital Advisory Group lifted its holdings in shares of Tenaris by 9.5% during the second quarter. Rehmann Capital Advisory Group now owns 5,325 shares of the industrial products company’s stock valued at $140,000 after purchasing an additional 464 shares in the last quarter. Finally, First Trust Advisors LP bought a new position in shares of Tenaris during the first quarter valued at $219,000. 14.09% of the stock is currently owned by hedge funds and other institutional investors.
About Tenaris
Tenaris SA, through its subsidiaries, produces and sells seamless and welded steel tubular products; and provides 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, perforating guns, tubular accessories, and non-tubular accessories and devices.