Equities Analysts Set Expectations for Tenaris SA’s FY2017 Earnings (TS)
Tenaris SA (NYSE:TS) – Equities research analysts at Capital One Financial Corp. cut their FY2017 EPS estimates for Tenaris SA in a report released on Wednesday. Capital One Financial Corp. analyst J. Gibney now anticipates that the firm will earn $0.41 per share for the year, down from their prior estimate of $0.46. Capital One Financial Corp. also issued estimates for Tenaris SA’s FY2018 earnings at $0.96 EPS.
A number of other equities research analysts have also recently issued reports on the company. Macquarie cut Tenaris SA from an “outperform” rating to an “underperform” rating in a research note on Tuesday, November 22nd. Zacks Investment Research upgraded shares of Tenaris SA from a “sell” rating to a “hold” rating in a research note on Thursday, November 17th. Morgan Stanley upgraded shares of Tenaris SA from an “equal weight” rating to an “overweight” rating in a research note on Monday, November 14th. Simmons upgraded shares of Tenaris SA from a “neutral” rating to an “overweight” rating in a research note on Tuesday, October 18th. Finally, Piper Jaffray Cos. upgraded shares of Tenaris SA from a “neutral” rating to an “overweight” rating and set a $33.00 price objective on the stock in a research note on Tuesday, October 18th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $29.86.
Tenaris SA (NYSE:TS) opened at 30.39 on Monday. The company has a 50-day moving average of $29.61 and a 200 day moving average of $28.02. The firm’s market cap is $17.94 billion. Tenaris SA has a 52 week low of $18.53 and a 52 week high of $31.98.
Tenaris SA (NYSE:TS) last announced its earnings results on Thursday, November 3rd. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.05. 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 the consensus estimate of $1.03 billion. During the same quarter in the previous year, the company posted ($0.30) EPS. The firm’s revenue for the quarter was down 32.8% on a year-over-year basis.
The company also recently announced a dividend, which was paid on Wednesday, November 23rd. Investors of record on Tuesday, November 22nd were issued a dividend of $0.26 per share. The ex-dividend date was Monday, November 21st. Tenaris SA’s payout ratio is currently -1,300.00%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc raised its position in Tenaris SA by 28.1% in the first quarter. Legal & General Group Plc now owns 1,026,274 shares of the company’s stock worth $25,416,000 after buying an additional 225,100 shares during the last quarter. Avalon Advisors LLC bought a new position in shares of Tenaris SA during the first quarter worth $201,000. Fis Group Inc. bought a new position in shares of Tenaris SA during the second quarter worth $1,898,000. Harding Loevner LP boosted its position in shares of Tenaris SA by 75.4% in the second quarter. Harding Loevner LP now owns 14,720,849 shares of the company’s stock worth $424,565,000 after buying an additional 6,329,867 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. boosted its position in shares of Tenaris SA by 684.7% in the second quarter. Independent Portfolio Consultants Inc. now owns 5,650 shares of the company’s stock worth $163,000 after buying an additional 4,930 shares in the last quarter. 16.10% of the stock is currently owned by hedge funds and other institutional investors.
Tenaris SA Company Profile
Tenaris SA is a holding company, which is a supplier of steel pipe products and related services for energy industry and other industrial applications. The Company 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 used in drilling operations, and for other industrial applications with production processes.
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