Piper Sandler Equities Analysts Lift Earnings Estimates for Tenaris S.A. (NYSE:TS)

Tenaris S.A. (NYSE:TSGet Rating) – Stock analysts at Piper Sandler upped their Q3 2023 earnings per share (EPS) estimates for Tenaris in a note issued to investors on Monday, April 11th. Piper Sandler analyst I. Macpherson now forecasts that the industrial products company will post earnings per share of $0.90 for the quarter, up from their previous forecast of $0.72. Piper Sandler also issued estimates for Tenaris’ Q4 2023 earnings at $0.93 EPS and FY2023 earnings at $3.45 EPS.

TS has been the topic of a number of other research reports. Wolfe Research raised shares of Tenaris from an “underperform” rating to a “peer perform” rating and boosted their target price for the company from $38.00 to $43.00 in a report on Monday, March 14th. BNP Paribas raised shares of Tenaris from a “neutral” rating to an “outperform” rating and set a $13.00 target price on the stock in a report on Wednesday, January 26th. Barclays raised shares of Tenaris from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $27.00 to $32.00 in a report on Monday, February 28th. Credit Suisse Group boosted their target price on shares of Tenaris from €8.20 ($8.91) to €8.80 ($9.57) and gave the company an “underperform” rating in a report on Monday, April 4th. Finally, StockNews.com initiated coverage on shares of Tenaris in a report on Thursday, March 31st. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Tenaris has an average rating of “Buy” and a consensus price target of $26.42.

NYSE:TS opened at $31.91 on Wednesday. The company has a current ratio of 3.19, a quick ratio of 1.48 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $18.84 billion, a PE ratio of 17.06, a price-to-earnings-growth ratio of 0.57 and a beta of 1.63. The firm’s 50 day moving average is $27.94 and its 200 day moving average is $24.21. Tenaris has a 12 month low of $18.80 and a 12 month high of $32.34.

Tenaris (NYSE:TSGet Rating) last posted its quarterly earnings results on Wednesday, February 16th. The industrial products company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.17. The company had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Tenaris had a net margin of 16.87% and a return on equity of 9.33%.

Large investors have recently made changes to their positions in the stock. 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 worth $43,000 after acquiring an additional 975 shares in the last quarter. Ellevest Inc. boosted its position in Tenaris by 27.8% during the fourth quarter. Ellevest Inc. now owns 2,091 shares of the industrial products company’s stock valued at $44,000 after buying an additional 455 shares during the period. Royal Bank of Canada boosted its position in Tenaris by 123.4% during the second quarter. Royal Bank of Canada now owns 2,140 shares of the industrial products company’s stock valued at $48,000 after buying an additional 1,182 shares during the period. Bessemer Group Inc. boosted its position in Tenaris by 194.7% during the fourth quarter. Bessemer Group Inc. now owns 2,405 shares of the industrial products company’s stock valued at $50,000 after buying an additional 1,589 shares during the period. Finally, Fifth Third Bancorp purchased a new stake in Tenaris during the fourth quarter valued at about $55,000. Institutional investors 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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Earnings History and Estimates for Tenaris (NYSE:TS)

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