Tenaris S.A. (TS) Shares Gap Up After Analyst Upgrade

Tenaris S.A. (NYSE:TS)’s share price gapped up before the market opened on Friday after Loop Capital raised their price target on the stock from $36.00 to $37.00. The stock had previously closed at $25.44, but opened at $27.37. Loop Capital currently has a buy rating on the stock. Tenaris shares last traded at $30.35, with a volume of 2870958 shares trading hands.

Several other equities analysts have also recently weighed in on the stock. Scotiabank set a $40.00 price objective on shares of Tenaris and gave the stock a “buy” rating in a research note on Thursday, August 3rd. BidaskClub cut shares of Tenaris from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Cowen and Company restated a “hold” rating and set a $30.00 target price on shares of Tenaris in a research note on Tuesday, July 11th. Berenberg Bank restated a “hold” rating and set a $30.00 target price on shares of Tenaris in a research note on Monday, August 7th. Finally, Zacks Investment Research lowered shares of Tenaris from a “buy” rating to a “hold” rating in a report on Saturday, July 22nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. Tenaris presently has an average rating of “Hold” and an average target price of $35.39.

A number of hedge funds and other institutional investors have recently bought and sold shares of TS. Ameriprise Financial Inc. boosted its stake in Tenaris by 1.8% during the first quarter. Ameriprise Financial Inc. now owns 33,999 shares of the industrial products company’s stock worth $1,161,000 after buying an additional 608 shares during the period. JPMorgan Chase & Co. boosted its stake in Tenaris by 1,187.5% during the first quarter. JPMorgan Chase & Co. now owns 6,502 shares of the industrial products company’s stock worth $222,000 after buying an additional 5,997 shares during the period. Vanguard Group Inc. boosted its stake in Tenaris by 2.9% during the first quarter. Vanguard Group Inc. now owns 323,032 shares of the industrial products company’s stock worth $11,028,000 after buying an additional 8,964 shares during the period. Morgan Stanley boosted its stake in Tenaris by 48.4% during the first quarter. Morgan Stanley now owns 119,568 shares of the industrial products company’s stock worth $4,082,000 after buying an additional 39,002 shares during the period. Finally, Paloma Partners Management Co purchased a new position in Tenaris during the first quarter worth $251,000. 15.98% of the stock is owned by institutional investors.

The firm has a market capitalization of $18,050.40, a P/E ratio of 55.60 and a beta of 0.61.

Tenaris (NYSE:TS) last issued its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.09. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.30 billion. Tenaris had a return on equity of 2.77% and a net margin of 8.81%. The firm’s quarterly revenue was up 32.0% on a year-over-year basis. During the same period last year, the company posted $0.03 EPS. equities research analysts expect that Tenaris S.A. will post 0.55 earnings per share for the current fiscal year.

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Tenaris Company Profile

Tenaris SA is a holding company, which is a steel producer with production facilities in Mexico, Argentina, Colombia, United States and Guatemala. The Company supplies round steel bars and flat steel products for its pipes business. It operates through Tubes business segment. The Tubes segment includes the production and sale of both seamless and welded steel tubular products, and related services primarily for the oil and gas industry, principally oil country tubular goods (OCTG) used in drilling operations, and for other industrial applications with production processes that include in the transformation of steel into tubular products.

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