Tenaris S.A. (NYSE:TS) Expected to Announce Quarterly Sales of $2.35 Billion

Equities research analysts expect Tenaris S.A. (NYSE:TS – Get Rating) to report $2.35 billion in sales for the current quarter, according to Zacks. Six analysts have issued estimates for Tenaris’ earnings. The lowest sales estimate is $2.26 billion and the highest is $2.50 billion. Tenaris posted sales of $1.18 billion during the same quarter last year, which would indicate a positive year over year growth rate of 99.2%. The business is expected to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Tenaris will report full year sales of $10.49 billion for the current year, with estimates ranging from $9.97 billion to $11.39 billion. For the next fiscal year, analysts expect that the firm will post sales of $11.10 billion, with estimates ranging from $10.22 billion to $12.55 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Tenaris.

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

Several research firms recently issued reports on TS. Wolfe Research upgraded shares of Tenaris from an “underperform” rating to a “peer perform” rating and increased their price target for the stock from $38.00 to $43.00 in a research report on Monday, March 14th. BNP Paribas upgraded shares of Tenaris from a “neutral” rating to an “outperform” rating and set a $13.00 price target on the stock in a research report on Wednesday, January 26th. Morgan Stanley increased their price target on shares of Tenaris from $32.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, April 11th. Credit Suisse Group increased their price target on shares of Tenaris from €8.20 ($8.82) to €8.80 ($9.46) and gave the stock an “underperform” rating in a research report on Monday, April 4th. Finally, AlphaValue upgraded shares of Tenaris to a “reduce” rating in a research report on Tuesday, February 22nd. Two research analysts have rated the stock with a sell rating, one has issued 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, Tenaris currently has an average rating of “Buy” and an average price target of $26.42.

Hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP bought a new position in Tenaris during the fourth quarter worth $39,132,000. Point72 Asset Management L.P. raised its stake in Tenaris by 460.5% during the fourth quarter. Point72 Asset Management L.P. now owns 1,457,228 shares of the industrial products company’s stock worth $30,398,000 after buying an additional 1,197,251 shares during the last quarter. Sourcerock Group LLC raised its stake in Tenaris by 281.9% during the fourth quarter. Sourcerock Group LLC now owns 1,478,580 shares of the industrial products company’s stock worth $30,843,000 after buying an additional 1,091,465 shares during the last quarter. Westwood Global Investments LLC raised its stake in Tenaris by 10.7% during the third quarter. Westwood Global Investments LLC now owns 9,214,157 shares of the industrial products company’s stock worth $194,511,000 after buying an additional 890,464 shares during the last quarter. Finally, Millennium Management LLC raised its stake in Tenaris by 70.2% during the fourth quarter. Millennium Management LLC now owns 1,715,582 shares of the industrial products company’s stock worth $35,787,000 after buying an additional 707,390 shares during the last quarter. 8.06% of the stock is owned by hedge funds and other institutional investors.

Shares of TS opened at $30.83 on Friday. Tenaris has a 12 month low of $18.80 and a 12 month high of $33.28. The firm’s 50 day moving average is $28.94 and its 200-day moving average is $24.84. The stock has a market capitalization of $18.20 billion, a PE ratio of 16.49, a P/E/G ratio of 0.58 and a beta of 1.63. The company has a current ratio of 3.19, a quick ratio of 1.48 and a debt-to-equity ratio of 0.01.

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.

See Also