Tenaris (NYSE:TS) Posts Earnings Results, Beats Estimates By $0.31 EPS

Tenaris (NYSE:TS) issued its earnings results on Wednesday. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.31, Zacks reports. Tenaris had a return on equity of 15.36% and a net margin of 20.23%.

Tenaris Price Performance

Shares of TS opened at $38.85 on Thursday. Tenaris has a one year low of $27.24 and a one year high of $40.72. The stock has a 50-day moving average of $38.33 and a 200-day moving average of $34.38. The company has a market cap of $22.59 billion, a PE ratio of 8.46 and a beta of 1.44.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Piper Sandler assumed coverage on shares of Tenaris in a research note on Thursday, December 19th. They set an “overweight” rating and a $48.00 price target for the company. Bank of America downgraded shares of Tenaris from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 29th. StockNews.com cut shares of Tenaris from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Kepler Capital Markets downgraded Tenaris from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Finally, Jefferies Financial Group raised shares of Tenaris from a “hold” rating to a “buy” rating and raised their target price for the stock from $35.00 to $47.00 in a report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $42.75.

About Tenaris

Tenaris SA, together with its subsidiaries, 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 steel casings, tubing products, mechanical and structural pipes, line pipes, cold-drawn pipes, and premium joints and couplings; and coiled tubing products for oil and gas drilling and workovers, and subsea pipelines.