Tenaris (NYSE:TS) Posts Earnings Results, Misses Expectations By $0.38 EPS

Tenaris (NYSE:TS) posted its quarterly earnings results 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. The company had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $170.13 million. Tenaris had a net margin of 24.89% and a return on equity of 21.11%. Tenaris’s quarterly revenue was down 18.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.90 EPS.

Tenaris Stock Down 9.9 %

NYSE:TS traded down $3.16 during trading hours on Thursday, hitting $28.68. 5,348,806 shares of the company’s stock traded hands, compared to its average volume of 1,993,577. Tenaris has a 52 week low of $28.64 and a 52 week high of $40.72. The business’s fifty day simple moving average is $31.60 and its two-hundred day simple moving average is $34.16. The firm has a market cap of $16.67 billion, a P/E ratio of 4.81 and a beta of 1.46.

Analyst Ratings Changes

TS has been the topic of several research analyst reports. Morgan Stanley downgraded Tenaris from an “overweight” rating to an “underweight” rating and set a $40.00 price objective on the stock. in a research note on Thursday, April 18th. Piper Sandler reduced their price objective on shares of Tenaris from $43.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock 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.