Revenue Update on Tenaris SA (ADR)(NYSE:TS)

Tenaris SA (ADR)(NYSE:TS) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 3, 2016. Company reported revenue of $1.12B. Analysts estimated a revenue of $1.17B. Earnings per share were $-0.02. Analysts had estimated an EPS of $0.03.

In a different note, On Jul 20, 2016, Goldman Sachs said it Downgrades its rating on Tenaris SA (ADR). The shares have been rated ‘Neutral’ by the firm.

Tenaris SA (ADR) (TS) shares turned negative on Fridays trading session with the shares closing down -0.13 points or -0.46% at a volume of 17,43,280. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $28.52. The peak price level was also seen at $28.52 while the days lowest was $27.86. Finally the shares closed at $27.91. The 52-week high of the shares is $29.74 while the 52-week low is $18.53. According to the latest information available, the market cap of the company is $16,474 M.

Tenaris S.A is a holding company which is engaged in the steel pipe manufacturing and distribution businesses. The Company produces and sells both seamless and welded steel tubular products and related services mainly for the oil and gas industry particularly oil country tubular goods used in drilling operations and for other industrial applications with production processes that consist in the transformation of steel into tubular products. It operates in geographical areas which include North America South America Europe Middle East Africa and Far East and Oceania. Its principal finished products are seamless and welded steel casing and tubing line pipe and other mechanical and structural steel pipes for different uses. It also manufactures sucker rods used in oil extraction activities industrial equipment of various specifications and applications including liquid and gas storage equipment and welded steel pipes for electric conduits used in the construction industry.

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