Tenaris S.A. (NYSE:TS) announced its quarterly earnings data on Wednesday. The industrial products company reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.09, Briefing.com reports. Tenaris had a net margin of 7.35% and a return on equity of 2.00%. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the previous year, the company earned $0.03 EPS. The business’s quarterly revenue was up 32.0% compared to the same quarter last year.
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Several analysts have recently issued reports on TS shares. Cowen and Company reissued a “hold” rating and set a $30.00 price objective on shares of Tenaris in a research note on Tuesday, July 11th. Zacks Investment Research raised shares of Tenaris from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Tuesday, July 18th. BidaskClub raised shares of Tenaris from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Scotiabank set a $40.00 price objective on shares of Tenaris and gave the company a “buy” rating in a research note on Thursday, August 3rd. Finally, Berenberg Bank reissued a “hold” rating and set a $30.00 price objective on shares of Tenaris in a research note on Monday, August 7th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. Tenaris has an average rating of “Hold” and a consensus price target of $35.61.
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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