Tenaris SA (NYSE:TS) – Equities research analysts at Jefferies Financial Group cut their FY2019 earnings estimates for Tenaris in a report released on Tuesday, January 22nd. Jefferies Financial Group analyst A. Spence now expects that the industrial products company will post earnings per share of $1.88 for the year, down from their previous forecast of $1.90.

Tenaris (NYSE:TS) last announced its quarterly earnings data on Wednesday, October 31st. The industrial products company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.10. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.83 billion. Tenaris had a net margin of 11.35% and a return on equity of 6.94%. The business’s quarterly revenue was up 45.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.18 earnings per share.

A number of other research firms also recently issued reports on TS. Zacks Investment Research upgraded shares of Tenaris from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Tuesday. UBS Group decreased their target price on shares of Tenaris from $40.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, December 7th. ValuEngine downgraded shares of Tenaris from a “hold” rating to a “sell” rating in a research report on Friday, November 23rd. Citigroup upgraded shares of Tenaris from a “neutral” rating to a “buy” rating and set a $35.00 target price for the company in a research report on Friday, January 18th. Finally, Barclays restated a “buy” rating and set a $44.00 target price on shares of Tenaris in a research report on Friday, January 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $39.27.

Shares of TS opened at $23.72 on Wednesday. The firm has a market cap of $14.34 billion, a PE ratio of 30.81, a P/E/G ratio of 0.36 and a beta of 0.77. Tenaris has a 1-year low of $20.45 and a 1-year high of $40.64.

Several institutional investors have recently modified their holdings of the business. AQR Capital Management LLC raised its position in shares of Tenaris by 7.6% in the third quarter. AQR Capital Management LLC now owns 26,327 shares of the industrial products company’s stock worth $882,000 after acquiring an additional 1,861 shares during the period. Fox Run Management L.L.C. raised its position in shares of Tenaris by 17.3% in the third quarter. Fox Run Management L.L.C. now owns 15,637 shares of the industrial products company’s stock worth $524,000 after acquiring an additional 2,306 shares during the period. Cubist Systematic Strategies LLC raised its position in shares of Tenaris by 50.2% in the second quarter. Cubist Systematic Strategies LLC now owns 7,208 shares of the industrial products company’s stock worth $262,000 after acquiring an additional 2,408 shares during the period. Aperio Group LLC raised its position in shares of Tenaris by 1.0% in the third quarter. Aperio Group LLC now owns 248,246 shares of the industrial products company’s stock worth $8,321,000 after acquiring an additional 2,455 shares during the period. Finally, HAP Trading LLC raised its position in shares of Tenaris by 28.5% in the third quarter. HAP Trading LLC now owns 14,665 shares of the industrial products company’s stock worth $492,000 after acquiring an additional 3,252 shares during the period. Institutional investors and hedge funds own 13.20% of the company’s stock.

Tenaris Company Profile

Tenaris SA produces and sells seamless and welded steel tubular products and 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, tubular and non-tubular accessories, and devices.

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Earnings History and Estimates for Tenaris (NYSE:TS)

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