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Here is how Tenaris S.A. (TS) and Encore Wire (WIRE) have performed compared to their sector so far this year.
Tenaris S.A. (NYSE:TS ) Q3 2022 Earnings Conference Call November 4, 2022 9:00 AM ET Company Participants Giovanni Sardagna - Investor Relations, Director Paolo Rocca - Chairman and Chief Executive Officer Alicia Mondolo - Chief Financial Officer Guillermo Vogel - Vice Chairman, and Member of our Board of Directors German Cura - Chairman and Member of our Board of Directors Gabriel Podskubka - President of Eastern Hemisphere Luca Zanotti - President of United States Operations Conference Call Participants Marc Bianchi - Cowen Arun Jayaram - J.P.
Lower steel price, higher selling price, and steady demand will improve Tenaris' operating margin. The pending acquisition of the Benteler group company will enhance TS' presence in the US and increase its pipe rolling capacity.
The mean of analysts' price targets for Tenaris S.A. (TS) points to a 39% upside in the stock.
Tenaris S.A. (TS) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).
Is it a good or bad thing when a stock surpasses resistance at the 20-day simple moving average?
Should investors be excited or worried when a stock crosses above the 200-day simple moving average?
Steel pipe maker Tenaris reported a 167% increase in core profit in the second quarter with sales improving sequentially also thanks to further pricing gains in North America and a recovery of volumes in the Middle East.
The average of price targets set by Wall Street analysts indicates a potential upside of 56.6% in Tenaris S.A. (TS). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.
Stocks like The Chef's Warehouse (CHEF), Vaalco Energy (EGY), StoneX Group (SNEX) and Tenaris (TS) have been selected as the momentum picks for the day using the Driehaus strategy.