Tenaris S.A. (NYSE:TS – Get Rating) – Stock analysts at Capital One Financial increased their FY2022 EPS estimates for Tenaris in a note issued to investors on Monday, April 18th. Capital One Financial analyst L. Lemoine now forecasts that the industrial products company will post earnings per share of $3.32 for the year, up from their previous estimate of $3.14. Capital One Financial also issued estimates for Tenaris’ Q3 2023 earnings at $1.06 EPS, Q4 2023 earnings at $1.08 EPS and FY2023 earnings at $4.07 EPS.
TS has been the subject of several other reports. Wolfe Research upgraded Tenaris from an “underperform” rating to a “peer perform” rating and boosted their target price for the stock from $38.00 to $43.00 in a report on Monday, March 14th. StockNews.com started coverage on Tenaris in a report on Thursday, March 31st. They issued a “buy” rating for the company. BNP Paribas upgraded Tenaris from a “neutral” rating to an “outperform” rating and set a $13.00 target price for the company in a report on Wednesday, January 26th. Exane BNP Paribas upgraded Tenaris from a “neutral” rating to an “outperform” rating and set a €13.00 ($13.98) target price for the company in a report on Wednesday, January 26th. Finally, Morgan Stanley lifted their price target on Tenaris from $32.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, April 11th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $26.42.
Tenaris (NYSE:TS – Get Rating) last announced its quarterly earnings results on Wednesday, February 16th. The industrial products company reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.17. The business had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.01 billion. Tenaris had a return on equity of 9.33% and a net margin of 16.87%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fifth Third Bancorp bought a new stake in Tenaris in the fourth quarter valued at $55,000. Bessemer Group Inc. grew its position in Tenaris by 194.7% in the fourth quarter. Bessemer Group Inc. now owns 2,405 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 1,589 shares during the period. Highland Capital Management LLC grew its position in Tenaris by 2.6% in the fourth quarter. Highland Capital Management LLC now owns 59,881 shares of the industrial products company’s stock valued at $1,249,000 after acquiring an additional 1,500 shares during the period. Lindbrook Capital LLC grew its position in Tenaris by 88.1% in the fourth quarter. Lindbrook Capital LLC now owns 2,082 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 975 shares during the period. Finally, Voloridge Investment Management LLC grew its position in Tenaris by 137.2% in the third quarter. Voloridge Investment Management LLC now owns 336,442 shares of the industrial products company’s stock valued at $7,102,000 after acquiring an additional 194,584 shares during the period. Institutional investors and hedge funds own 8.06% of the company’s stock.
Tenaris Company Profile (Get Rating)
Tenaris SA, through its subsidiaries, produces and sells seamless and welded steel tubular products; and provides related services for the oil and gas industry, and other industrial applications. The company offers steel casings, tubing products, mechanical and structural pipes, cold-drawn pipes, and premium joints and couplings; coiled tubing products for oil and gas drilling and workovers, and subsea pipelines; and umbilical tubing products; and tubular accessories.
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