Tenaris S.A. (TS) Expected to Post Quarterly Sales of $1.49 Billion
Equities analysts predict that Tenaris S.A. (NYSE:TS) will post sales of $1.49 billion for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Tenaris’ earnings, with the lowest sales estimate coming in at $1.45 billion and the highest estimate coming in at $1.53 billion. Tenaris posted sales of $1.05 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 41.9%. The company is scheduled to report its next quarterly earnings results on Wednesday, February 28th.
According to Zacks, analysts expect that Tenaris will report full-year sales of $1.49 billion for the current financial year, with estimates ranging from $5.12 billion to $5.22 billion. For the next financial year, analysts expect that the business will post sales of $5.93 billion per share, with estimates ranging from $5.28 billion to $6.61 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover Tenaris.
Tenaris (NYSE:TS) last announced its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.09. Tenaris had a return on equity of 2.77% and a net margin of 8.81%. 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 prior year, the company earned $0.03 EPS. Tenaris’s revenue was up 32.0% compared to the same quarter last year.
A number of research analysts have recently commented on TS shares. Cowen set a $28.00 price target on Tenaris and gave the company a “hold” rating in a research note on Friday, October 6th. Macquarie upgraded Tenaris from an “underperform” rating to a “neutral” rating in a research note on Friday, November 17th. Loop Capital raised their target price on Tenaris from $36.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Berenberg Bank reaffirmed a “hold” rating and set a $30.00 target price on shares of Tenaris in a research report on Monday, August 7th. Finally, BidaskClub lowered Tenaris from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. Tenaris presently has an average rating of “Hold” and a consensus price target of $35.39.
Several hedge funds have recently bought and sold shares of the company. Cubist Systematic Strategies LLC bought a new position in shares of Tenaris in the 3rd quarter worth about $1,161,000. Oppenheimer Asset Management Inc. raised its position in shares of Tenaris by 11.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 44,033 shares of the industrial products company’s stock worth $1,247,000 after acquiring an additional 4,584 shares in the last quarter. NWQ Investment Management Company LLC raised its position in shares of Tenaris by 21.9% in the 3rd quarter. NWQ Investment Management Company LLC now owns 709,790 shares of the industrial products company’s stock worth $20,094,000 after acquiring an additional 127,298 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Tenaris by 1.9% in the 3rd quarter. Mackenzie Financial Corp now owns 2,164,733 shares of the industrial products company’s stock worth $61,284,000 after acquiring an additional 40,123 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI bought a new position in shares of Tenaris in the 3rd quarter worth about $1,339,000. 19.37% of the stock is owned by hedge funds and other institutional investors.
Shares of Tenaris (TS) traded up $0.36 on Tuesday, hitting $30.07. The stock had a trading volume of 1,317,400 shares, compared to its average volume of 2,091,257. Tenaris has a one year low of $25.91 and a one year high of $37.21. The company has a market cap of $17,536.86, a PE ratio of 54.02 and a beta of 0.65.
The firm also recently disclosed a dividend, which was paid on Tuesday, November 21st. Stockholders of record on Tuesday, November 21st were given a $0.26 dividend. The ex-dividend date of this dividend was Monday, November 20th. Tenaris’s dividend payout ratio (DPR) is presently 72.22%.
Tenaris Company Profile
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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