Tenaris SA (NYSE:TS) – Investment analysts at Piper Jaffray Companies decreased their Q3 2019 earnings estimates for shares of Tenaris in a research note issued to investors on Friday, June 21st. Piper Jaffray Companies analyst I. Macpherson now anticipates that the industrial products company will earn $0.38 per share for the quarter, down from their prior forecast of $0.39. Piper Jaffray Companies also issued estimates for Tenaris’ Q4 2019 earnings at $0.38 EPS, FY2019 earnings at $1.54 EPS, Q1 2020 earnings at $0.48 EPS, Q2 2020 earnings at $0.50 EPS, Q3 2020 earnings at $0.50 EPS, Q4 2020 earnings at $0.51 EPS and FY2020 earnings at $2.00 EPS.
Several other equities research analysts also recently issued reports on the stock. ValuEngine downgraded shares of Tenaris from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. Goldman Sachs Group downgraded shares of Tenaris from a “neutral” rating to a “sell” rating and set a $28.80 target price for the company. in a research note on Tuesday, March 26th. TheStreet upgraded shares of Tenaris from a “c+” rating to a “b-” rating in a research report on Friday, May 3rd. Zacks Investment Research upgraded shares of Tenaris from a “sell” rating to a “hold” rating in a research report on Thursday, May 2nd. Finally, Barclays restated a “buy” rating and set a $39.00 price objective on shares of Tenaris in a research report on Tuesday, February 26th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. Tenaris presently has a consensus rating of “Hold” and a consensus price target of $36.53.
Tenaris (NYSE:TS) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.03. Tenaris had a net margin of 11.53% and a return on equity of 7.46%. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $2 billion. During the same period last year, the business posted $0.20 EPS. Tenaris’s revenue was up .3% on a year-over-year basis.
Hedge funds have recently modified their holdings of the business. Parallel Advisors LLC acquired a new stake in Tenaris during the first quarter worth approximately $29,000. Macquarie Group Ltd. acquired a new stake in Tenaris during the fourth quarter worth approximately $42,000. Icon Wealth Partners LLC acquired a new stake in Tenaris during the first quarter worth approximately $44,000. NumerixS Investment Technologies Inc acquired a new stake in Tenaris during the fourth quarter worth approximately $45,000. Finally, Rehmann Capital Advisory Group lifted its position in Tenaris by 292.0% during the first quarter. Rehmann Capital Advisory Group now owns 4,861 shares of the industrial products company’s stock worth $137,000 after acquiring an additional 3,621 shares during the last quarter. Hedge funds and other institutional investors own 14.40% of the company’s stock.
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.
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