Shares of Tenaris SA (NYSE:TS) have been assigned an average rating of “Buy” from the twenty-one ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $41.38.
A number of analysts have recently commented on TS shares. TheStreet lowered shares of Tenaris from a “b” rating to a “c+” rating in a research report on Wednesday, August 15th. Guggenheim reissued a “buy” rating and issued a $48.00 price objective on shares of Tenaris in a research report on Friday, August 3rd. Jefferies Financial Group started coverage on shares of Tenaris in a research report on Thursday, August 23rd. They issued a “buy” rating on the stock. Stifel Nicolaus started coverage on shares of Tenaris in a research report on Monday, September 10th. They issued a “buy” rating and a $41.00 price objective on the stock. Finally, Zacks Investment Research raised shares of Tenaris from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research report on Tuesday, November 6th.
A number of institutional investors and hedge funds have recently modified their holdings of TS. Glenmede Trust Co. NA acquired a new position in Tenaris during the third quarter worth $133,000. Moody National Bank Trust Division acquired a new position in shares of Tenaris in the third quarter valued at $180,000. Seven Eight Capital LP acquired a new position in shares of Tenaris in the third quarter valued at $229,000. Greenleaf Trust acquired a new position in shares of Tenaris in the second quarter valued at $240,000. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of Tenaris by 50.2% in the second quarter. Cubist Systematic Strategies LLC now owns 7,208 shares of the industrial products company’s stock valued at $262,000 after purchasing an additional 2,408 shares during the last quarter. Institutional investors and hedge funds own 13.61% of the company’s stock.
Tenaris (NYSE:TS) last announced its quarterly earnings data on Wednesday, October 31st. The industrial products company reported $0.42 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.10. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.83 billion. Tenaris had a net margin of 11.35% and a return on equity of 6.94%. The firm’s revenue for the quarter was up 45.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.18 earnings per share. As a group, research analysts forecast that Tenaris will post 1.48 EPS for the current year.
The company also recently announced a Semi-Annual dividend, which was paid on Wednesday, November 21st. Investors of record on Tuesday, November 20th were issued a dividend of $0.26 per share. The ex-dividend date was Monday, November 19th. Tenaris’s payout ratio is 67.53%.
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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