Zacks Investment Research upgraded shares of Tenaris (NYSE:TS) from a hold rating to a strong-buy rating in a report published on Friday. They currently have $37.00 target price on the industrial products company’s stock.
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. “
Several other equities research analysts also recently weighed in on TS. Cowen set a $28.00 target price on shares of Tenaris and gave the stock a hold rating in a research report on Friday, October 6th. Loop Capital boosted their target price on shares of Tenaris from $36.00 to $37.00 and gave the stock a buy rating in a research report on Friday, November 3rd. Macquarie raised shares of Tenaris from an underperform rating to a neutral rating in a research report on Friday, November 17th. TheStreet raised shares of Tenaris from a c rating to a b- rating in a research report on Tuesday, December 12th. Finally, Barclays started coverage on shares of Tenaris in a research report on Wednesday, December 20th. They issued an overweight rating and a $39.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $35.75.
Tenaris (NYSE:TS) last released its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.09. Tenaris had a net margin of 8.81% and a return on equity of 2.77%. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the previous year, the firm posted $0.03 EPS. The firm’s quarterly revenue was up 32.0% on a year-over-year basis. analysts predict that Tenaris will post 0.49 earnings per share for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TS. D.A. Davidson & CO. boosted its holdings in shares of Tenaris by 15.0% in the 2nd quarter. D.A. Davidson & CO. now owns 7,742 shares of the industrial products company’s stock valued at $241,000 after buying an additional 1,011 shares during the period. FDx Advisors Inc. acquired a new position in shares of Tenaris in the 3rd quarter valued at about $243,000. Airain ltd acquired a new position in shares of Tenaris in the 2nd quarter valued at about $264,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Tenaris by 7.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,793 shares of the industrial products company’s stock valued at $274,000 after buying an additional 593 shares during the period. Finally, Quantitative Systematic Strategies LLC acquired a new position in shares of Tenaris in the 3rd quarter valued at about $282,000. 15.08% of the stock is owned by 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.
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