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Surging Earnings Estimates Signal Good News for Tenaris (TS)

Tenaris S.A. TS is a manufacturer and distributer of steel pipe products and other related services for the oil and gas industry, and other industrial applications that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on TS’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Tenaris could be a solid choice for investors.

Current Quarter Estimates for TS

In the past 30 days, 2 estimates have gone higher for Tenaris with no downward revisions in the same time period. The trend has been pretty favorable too, with estimates increasing from a loss of 1 cent a share 30 days ago, to 1 cent today.  

Current Year Estimates for TS

Meanwhile, Tenaris’s current year figures are also looking quite promising, with 2 estimates moving higher in the past month, compared to 1 lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 1 cent per share 30 days ago to 6 cents per share today, a significant increase.

Bottom Line

The stock has also started to move higher lately, adding 9.9% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. 

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TENARIS SA-ADR (TS): Free Stock Analysis Report
 
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