Tenaris S.A. (NYSE:TS) posted its quarterly earnings data on Wednesday. The industrial products company reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.09, Briefing.com reports. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.30 billion. Tenaris had a return on equity of 2.77% and a net margin of 8.81%. The company’s quarterly revenue was up 32.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.03 EPS.
Tenaris (TS) traded up $2.88 during trading hours on Friday, hitting $30.25. The stock had a trading volume of 4,277,466 shares, compared to its average volume of 2,066,567. The firm has a market capitalization of $18,050.40, a price-to-earnings ratio of 55.60 and a beta of 0.61.
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TS has been the subject of several analyst reports. Loop Capital boosted their target price on Tenaris from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday. BidaskClub raised Tenaris from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Zacks Investment Research raised Tenaris from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Tuesday, July 18th. Scotiabank set a $40.00 target price on Tenaris and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Finally, Cowen and Company reissued a “hold” rating and set a $30.00 target price on shares of Tenaris in a research note on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $35.39.
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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