Barclays Initiates Coverage on Tenaris (TS)

Research analysts at Barclays initiated coverage on shares of Tenaris (NYSE:TS) in a research note issued on Wednesday. The firm set an “overweight” rating and a $39.00 price target on the industrial products company’s stock. Barclays’ target price would suggest a potential upside of 23.38% from the company’s current price.

Other research analysts have also issued reports about the stock. TheStreet upgraded shares of Tenaris from a “c” rating to a “b-” rating in a research note on Tuesday, December 12th. Loop Capital raised their target price on shares of Tenaris from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Macquarie upgraded shares of Tenaris from an “underperform” rating to a “neutral” rating in a research note on Friday, November 17th. Finally, Cowen set a $28.00 target price on shares of Tenaris and gave the company a “hold” rating in a research note on Friday, October 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $35.75.

Tenaris (TS) opened at $31.61 on Wednesday. Tenaris has a 12 month low of $25.91 and a 12 month high of $37.21. The stock has a market cap of $18,490.00, a price-to-earnings ratio of 55.64 and a beta of 0.65.

Tenaris (NYSE:TS) last posted its 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. Tenaris had a net margin of 8.81% and a return on equity of 2.77%. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period last year, the business posted $0.03 EPS. Tenaris’s revenue was up 32.0% compared to the same quarter last year. equities research analysts expect that Tenaris will post 0.49 EPS for the current year.

A number of institutional investors have recently modified their holdings of TS. D.A. Davidson & CO. lifted its holdings in shares of Tenaris by 15.0% during the 2nd quarter. D.A. Davidson & CO. now owns 7,742 shares of the industrial products company’s stock worth $241,000 after acquiring an additional 1,011 shares during the period. Airain ltd bought a new position in shares of Tenaris during the 2nd quarter worth about $264,000. FDx Advisors Inc. bought a new position in shares of Tenaris during the 3rd quarter worth about $243,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Tenaris by 7.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,793 shares of the industrial products company’s stock worth $274,000 after acquiring an additional 593 shares during the period. Finally, Virtu KCG Holdings LLC bought a new position in shares of Tenaris during the 2nd quarter worth about $309,000. 15.08% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Tenaris (NYSE:TS)

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