Zacks: Brokerages Expect Tenaris SA (TS) to Announce $0.04 Earnings Per Share

Wall Street brokerages predict that Tenaris SA (NYSE:TS) will announce $0.04 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Tenaris SA’s earnings, with the lowest EPS estimate coming in at $0.02 and the highest estimate coming in at $0.05. Tenaris SA posted earnings per share of $0.03 during the same quarter last year, which suggests a positive year-over-year growth rate of 33.3%. The company is scheduled to report its next quarterly earnings report on Wednesday, April 26th.

On average, analysts expect that Tenaris SA will report full year earnings of $0.31 per share for the current financial year, with EPS estimates ranging from $0.18 to $0.43. For the next year, analysts expect that the business will report earnings of $0.85 per share, with EPS estimates ranging from $0.66 to $0.97. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that cover Tenaris SA.

Tenaris SA (NYSE:TS) last released its quarterly earnings results on Wednesday, February 22nd. The industrial products company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.03. Tenaris SA had a negative net margin of 0.52% and a negative return on equity of 0.21%. The firm earned $1.05 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the business earned ($0.08) EPS. The company’s revenue was down 23.8% compared to the same quarter last year.

Several brokerages have recently weighed in on TS. Scotiabank set a $40.00 price target on Tenaris SA and gave the company a “buy” rating in a report on Saturday, February 25th. Simmons raised their price target on Tenaris SA from $40.50 to $41.00 and gave the company an “overweight” rating in a report on Tuesday, April 4th. Evercore ISI upgraded Tenaris SA from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a report on Monday, February 27th. Zacks Investment Research downgraded Tenaris SA from a “buy” rating to a “hold” rating in a report on Saturday, February 25th. Finally, JPMorgan Chase & Co. upgraded Tenaris SA from an “underweight” rating to a “neutral” rating and set a $35.00 price target for the company in a report on Thursday, January 19th. Three analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $35.88.

Tenaris SA (NYSE:TS) traded up 1.13% during mid-day trading on Monday, hitting $32.35. 3,076,730 shares of the stock traded hands. The firm has a market capitalization of $19.10 billion, a P/E ratio of 344.15 and a beta of 0.91. The company has a 50-day moving average of $32.74 and a 200 day moving average of $32.72. Tenaris SA has a 1-year low of $24.97 and a 1-year high of $37.21.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Kernodle & Katon Asset Management Group LLC purchased a new position in shares of Tenaris SA during the third quarter valued at about $129,000. Advisor Group Inc. boosted its position in Tenaris SA by 16.0% in the third quarter. Advisor Group Inc. now owns 4,789 shares of the industrial products company’s stock worth $136,000 after buying an additional 662 shares during the last quarter. Tyers Asset Management LLC bought a new position in Tenaris SA during the fourth quarter worth $173,000. Flinton Capital Management LLC bought a new position in Tenaris SA during the fourth quarter worth $210,000. Finally, American National Insurance Co. TX bought a new position in Tenaris SA during the fourth quarter worth $211,000. 16.47% of the stock is currently owned by institutional investors and hedge funds.

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About Tenaris SA

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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