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Tenaris S.A. (TS) shares soared 6.3% in the last trading session to close at $32.65. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 16.3% loss over the past four weeks.
TS's shares surged on a broad-based rally, triggered by President Trump’s announcement of a 90-day suspension of reciprocal tariffs for most countries.
This company is expected to post quarterly earnings of $0.79 per share in its upcoming report, which represents a year-over-year change of -37.8%. Revenues are expected to be $2.87 billion, down 16.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Tenaris, the consensus EPS estimate for the quarter has been revised 0.6% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on TS going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Tenaris belongs to the Zacks Steel - Pipe and Tube industry. Another stock from the same industry, Mueller Water Products (MWA), closed the last trading session 8.9% higher at $24.85. Over the past month, MWA has returned -14%.
For Mueller Water Products , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.32. This represents a change of +6.7% from what the company reported a year ago. Mueller Water Products currently has a Zacks Rank of #2 (Buy).
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Tenaris S.A. (TS) : Free Stock Analysis Report
MUELLER WATER PRODUCTS (MWA) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).