Tenaris (NYSE:TS – Get Free Report) posted its quarterly earnings data on Wednesday. The industrial products company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.38), Briefing.com reports. Tenaris had a return on equity of 16.10% and a net margin of 20.41%. The firm had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $170.13 million. During the same period in the prior year, the company earned $1.90 EPS. The company’s revenue for the quarter was down 18.5% compared to the same quarter last year.
Tenaris Price Performance
TS stock opened at $28.17 on Friday. Tenaris has a 1 year low of $27.98 and a 1 year high of $40.72. The stock has a market cap of $16.38 billion, a price-to-earnings ratio of 4.70 and a beta of 1.46. The company has a 50 day simple moving average of $31.40 and a 200 day simple moving average of $34.09.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the stock. Morgan Stanley downgraded shares of Tenaris from an “overweight” rating to an “underweight” rating and set a $40.00 price target for the company. in a report on Thursday, April 18th. Piper Sandler decreased their price target on Tenaris from $43.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Tenaris presently has a consensus rating of “Hold” and an average target price of $40.00.
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.
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