Tenaris S.A. is in the oil and gas services industry and is part of the energy sector. The company CEO is Paolo Rocca. Tenaris SA is a global manufacturer of welded steel casing and tubing for oil and gas drilling projects. The company also manufactures various diameter pipes for oil and gas transportation projects and other industrial uses.



Previous Intraday Performance:

The TS shares had a previous change of -0.32% which opened at 27.94 and closed at 27.86. It moved to an intraday high of 28.18 and a low of 27.80.

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Historical Performance:

Over the last five trading days, TS shares returned 8.49% and in the past 30 trading days it returned 11.57%. Over three months, it changed 23.11%. In one year it has changed -22.28% and within that year its 52-week high was 40.64 and its 52-week low was 20.45. TS stock is 36.23% above its 52 Week Low.

Our calculations result in a 200 day moving average of 30.26 and a 50 day moving average of 25.25. Right now, TS stock is trading -7.94% below its 200 day moving average and may not be a great opportunity to buy as it may continue to trend down.

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Liquidity:

The company has a market cap of $16.4b with 590.3m shares outstanding and a float of 590.3m shares. Trading volume was 3,748,407 shares and has experienced an average volume of 2,622,339 shares. Our calculation, using the current average volume and close price, leads me to believe that the liquidity is good.

Earnings:

The last annual reported EPS for Tenaris S.A. was 1.49 which ended on 31st of December 2018, which according to the previous close, that is a PE of 18.70. Based on 5 analyst estimates, the consensus EPS for the next quarter is 0.43. The trailing twelve month EPS is 1.49, which comes to a trailing twelve month PE of 18.70. Historically, the PE high was 421.40 and the PE low was 10.80. If the stock reached its PE low, that would represent a price of 16.09, which is a decrease of -42.25%.

Below was the last reported quarterly earnings per share:
12-31-2018:  0.38
09-30-2018:  0.42
06-30-2018:  0.29
03-31-2018:  0.40

The dividend per share is currently 1.12, which is a dividend yield of 4.02%. TS stock may not have sufficient earnings to cover future dividends and still be able to invest in and grow the business, therefore in the future the dividend may be reduced.

Base on our calculations, the intrinsic value per share is 35.34, which means it might be undervalued and has a margin of safety of 21.16%



The next earnings report will be: 03-21-2019

The long-term trend of the EPS is a vital number as it helps understand the future potential of Tenaris S.A.; it is usually expressed as a percentage and is then referred to as the EPS growth rate, which is 18.31%.

Indicators Also to Watch:

Based on the latest filings, there is 20.10% of institutional ownership. Short-interest was 9,313,354, which was 1.58% of shares outstanding. The short-interest ratio or days-to-cover ratio was 3.82. This stock has some short interest, but it might be normal and no need to worry if long the position.

I calculated the beta to be 1.03

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Fundamental Numbers:

Based on last reported financials, the company’s return on equity is 7.69%, return on assets is 6.25%, profit margin is 11.39%, price-to-sales is 2.53 and price-to-book is 1.36.

Company Score Card:

Results are out of six:
 3  : Growth Expectations Result
 6  : Financial Safety Result
 3  : Past Performance Result
 1  : Valuation Result
 3  : Dividend Safety Result
 3  : Overall Result

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Jake McWilliams
I am an independent trader, analyst and algorithmic trading expert, having worked both for the sell side (brokerage) and the buy side (fund administration). I have been trading professionally for about 20 years. I trade stocks and forex and I play both long and short positions in underlying asset or through options. I have experience with discretionary and fully automated systems (Metatrader and Quantshare).

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