Tenaris (NYSE:TS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage currently has a $38.00 target price on the industrial products company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 17.07% from the company’s previous close.
According to Zacks, “Tenaris Sa, a corporation organized in Luxembourg, is a leading manufacturer and supplier of seamless steel pipe products and associated services to the oil and gas, energy and other industries. Tenaris’s operating subsidiaries include eight established steel pipe manufacturers: AlgomaTubes, Confab, Dalmine, NKKTubes, Siat, Siderca, Tamsa and Tavsa. “
TS has been the subject of several other research reports. Guggenheim reissued a “buy” rating and issued a $48.00 price target on shares of Tenaris in a report on Friday, August 3rd. Piper Jaffray Companies set a $44.00 price target on Tenaris and gave the stock a “buy” rating in a report on Thursday, August 2nd. ValuEngine raised Tenaris from a “hold” rating to a “buy” rating in a report on Wednesday, June 27th. BTIG Research started coverage on Tenaris in a report on Thursday, June 14th. They issued a “buy” rating and a $50.00 price target for the company. Finally, Stifel Nicolaus started coverage on Tenaris in a report on Monday, September 10th. They issued a “buy” rating and a $41.00 price target for the company. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $41.81.
Shares of TS stock opened at $32.46 on Thursday. Tenaris has a 1-year low of $25.91 and a 1-year high of $40.64. The stock has a market cap of $19.79 billion, a P/E ratio of 42.16, a P/E/G ratio of 0.63 and a beta of 0.55.
Tenaris (NYSE:TS) last issued its quarterly earnings data on Wednesday, August 1st. The industrial products company reported $0.29 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.29. Tenaris had a return on equity of 5.74% and a net margin of 10.21%. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter last year, the company earned $0.06 earnings per share. The firm’s revenue for the quarter was up 43.9% compared to the same quarter last year. On average, equities analysts expect that Tenaris will post 1.4 EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in the stock. Fox Run Management L.L.C. lifted its holdings in shares of Tenaris by 17.3% during the third quarter. Fox Run Management L.L.C. now owns 15,637 shares of the industrial products company’s stock worth $524,000 after purchasing an additional 2,306 shares during the period. Northern Trust Corp lifted its holdings in shares of Tenaris by 4.2% during the second quarter. Northern Trust Corp now owns 626,564 shares of the industrial products company’s stock worth $22,800,000 after purchasing an additional 25,080 shares during the period. Ashburton Jersey Ltd lifted its holdings in shares of Tenaris by 82.0% during the second quarter. Ashburton Jersey Ltd now owns 39,948 shares of the industrial products company’s stock worth $1,454,000 after purchasing an additional 18,000 shares during the period. Energy Opportunities Capital Management LLC raised its position in Tenaris by 19.3% during the second quarter. Energy Opportunities Capital Management LLC now owns 196,890 shares of the industrial products company’s stock valued at $7,165,000 after acquiring an additional 31,825 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its position in Tenaris by 50.2% during the second quarter. Cubist Systematic Strategies LLC now owns 7,208 shares of the industrial products company’s stock valued at $262,000 after acquiring an additional 2,408 shares in the last quarter. 13.97% of the stock is owned by hedge funds and other institutional investors.
Tenaris Company Profile
Tenaris SA produces and sells seamless and welded steel tubular products and related services for the oil and gas industry, and other industrial applications. The company offers products for oil and gas drilling operations, such as casing and tubing products, premium connections, drill pipes, coiled tubing, hot-rolled and cold-drawn seamless tubes, tubular and non-tubular accessories, and devices.
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