Brokerages Anticipate Tenaris SA (TS) to Post $0.33 EPS

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Brokerages predict that Tenaris SA (NYSE:TS) will report $0.33 earnings per share for the current quarter, Zacks reports. Three analysts have issued estimates for Tenaris’ earnings, with the highest EPS estimate coming in at $0.44 and the lowest estimate coming in at $0.25. Tenaris reported earnings per share of $0.18 in the same quarter last year, which would suggest a positive year-over-year growth rate of 83.3%. The firm is scheduled to announce its next earnings report on Wednesday, November 7th.

On average, analysts expect that Tenaris will report full-year earnings of $1.44 per share for the current financial year, with EPS estimates ranging from $1.25 to $1.74. For the next year, analysts forecast that the company will post earnings of $1.86 per share, with EPS estimates ranging from $1.37 to $2.37. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Tenaris.

Tenaris (NYSE:TS) last announced its quarterly earnings data on Wednesday, August 1st. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.29. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.79 billion. Tenaris had a net margin of 10.21% and a return on equity of 5.74%. The company’s revenue for the quarter was up 43.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.06 earnings per share.

TS has been the subject of several research analyst reports. TheStreet cut shares of Tenaris from a “b” rating to a “c+” rating in a research note on Wednesday, August 15th. Guggenheim reaffirmed a “buy” rating and set a $48.00 target price on shares of Tenaris in a research note on Friday, August 3rd. Zacks Investment Research cut shares of Tenaris from a “strong-buy” rating to a “hold” rating and set a $41.00 target price for the company. in a research note on Friday, June 29th. Exane BNP Paribas raised shares of Tenaris from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 21st. Finally, Jefferies Financial Group initiated coverage on shares of Tenaris in a research note on Thursday, August 23rd. They set a “buy” rating for the company. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $42.32.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Energy Opportunities Capital Management LLC grew its stake in shares of Tenaris by 19.3% in the 2nd quarter. Energy Opportunities Capital Management LLC now owns 196,890 shares of the industrial products company’s stock worth $7,165,000 after buying an additional 31,825 shares in the last quarter. Cubist Systematic Strategies LLC grew its stake in shares of Tenaris by 50.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 7,208 shares of the industrial products company’s stock worth $262,000 after buying an additional 2,408 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of Tenaris by 189.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 418,400 shares of the industrial products company’s stock worth $15,226,000 after buying an additional 273,600 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Tenaris by 44.6% in the 2nd quarter. Bank of America Corp DE now owns 276,209 shares of the industrial products company’s stock worth $10,051,000 after buying an additional 85,168 shares in the last quarter. Finally, Capital Fund Management S.A. purchased a new position in shares of Tenaris in the 2nd quarter worth $1,386,000. 13.97% of the stock is owned by institutional investors.

TS opened at $32.47 on Monday. The firm has a market cap of $19.80 billion, a P/E ratio of 42.17, a P/E/G ratio of 0.64 and a beta of 0.58. Tenaris has a fifty-two week low of $25.91 and a fifty-two week high of $40.64.

About Tenaris

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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