FY2019 EPS Estimates for Tenaris SA Lowered by Analyst (TS)

Tenaris SA (NYSE:TS) – Investment analysts at Jefferies Financial Group cut their FY2019 earnings estimates for Tenaris in a research report issued 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, topping analysts’ consensus estimates of $0.32 by $0.10. Tenaris had a net margin of 11.35% and a return on equity of 6.94%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same period in the previous year, the business earned $0.18 EPS. The firm’s revenue for the quarter was up 45.7% on a year-over-year basis.

A number of other brokerages have also weighed in on TS. Wolfe Research began coverage on shares of Tenaris in a research note on Wednesday, October 10th. They set a “peer perform” rating for the company. Bank of America upgraded shares of Tenaris from an “underperform” rating to a “buy” rating and boosted their target price for the company from $30.00 to $40.00 in a research note on Tuesday, September 25th. Zacks Investment Research upgraded shares of Tenaris from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Thursday, October 11th. ValuEngine lowered shares of Tenaris from a “hold” rating to a “sell” rating in a research note on Friday, November 23rd. Finally, 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 note on Friday, January 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Tenaris has a consensus rating of “Buy” and a consensus target price of $39.27.

Shares of TS opened at $23.62 on Wednesday. The firm has a market cap of $14.34 billion, a price-to-earnings ratio of 30.68, 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.

Large investors have recently bought and sold shares of the company. Jane Street Group LLC bought a new position in Tenaris in the 3rd quarter worth $23,023,000. Chartwell Investment Partners LLC boosted its holdings in shares of Tenaris by 868.7% during the 3rd quarter. Chartwell Investment Partners LLC now owns 279,420 shares of the industrial products company’s stock valued at $9,366,000 after purchasing an additional 250,575 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Tenaris by 27.4% during the 3rd quarter. Franklin Resources Inc. now owns 865,229 shares of the industrial products company’s stock valued at $29,002,000 after purchasing an additional 185,882 shares during the last quarter. Rehmann Capital Advisory Group boosted its holdings in shares of Tenaris by 3,192.8% during the 3rd quarter. Rehmann Capital Advisory Group now owns 137,968 shares of the industrial products company’s stock valued at $4,116,000 after purchasing an additional 133,778 shares during the last quarter. Finally, Marshall Wace North America L.P. boosted its holdings in shares of Tenaris by 59.1% during the 3rd quarter. Marshall Wace North America L.P. now owns 321,201 shares of the industrial products company’s stock valued at $10,767,000 after purchasing an additional 119,304 shares during the last quarter. Hedge funds and other institutional investors 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.

Featured Article: What are CEFs?

Earnings History and Estimates for Tenaris (NYSE:TS)

Receive News & Ratings for Tenaris Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenaris and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply