Tenaris (TS) PT Lowered to $26.00

Tenaris (NYSE:TS) had its target price reduced by UBS Group from $40.00 to $26.00 in a research report sent to investors on Friday morning, www.benzinga.com reports. They currently have a neutral rating on the industrial products company’s stock.

Other equities analysts have also recently issued research reports about the company. Citigroup cut Tenaris from a buy rating to a neutral rating in a report on Friday, August 17th. Zacks Investment Research upgraded Tenaris from a hold rating to a buy rating and set a $38.00 price objective for the company in a report on Thursday, October 11th. TheStreet cut Tenaris from a b rating to a c+ rating in a report on Wednesday, August 15th. Stifel Nicolaus began coverage on Tenaris in a report on Monday, September 10th. They set a buy rating and a $41.00 price objective for the company. Finally, Bank of America upgraded Tenaris from an underperform rating to a buy rating and boosted their price objective for the company from $30.00 to $40.00 in a report on Tuesday, September 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $40.58.

Shares of Tenaris stock traded down $0.58 on Friday, reaching $22.85. The company had a trading volume of 3,650,785 shares, compared to its average volume of 2,407,275. The stock has a market cap of $13.83 billion, a price-to-earnings ratio of 29.68, a price-to-earnings-growth ratio of 0.41 and a beta of 0.68. Tenaris has a 1 year low of $22.82 and a 1 year high of $40.64.

Tenaris (NYSE:TS) last posted its quarterly earnings data on Wednesday, October 31st. The industrial products company reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.10. Tenaris had a return on equity of 6.94% and a net margin of 11.35%. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the previous year, the business earned $0.18 EPS. Tenaris’s revenue was up 45.7% compared to the same quarter last year. Equities analysts expect that Tenaris will post 1.5 EPS for the current year.

The company also recently announced a Semi-Annual dividend, which was paid on Wednesday, November 21st. Shareholders of record on Tuesday, November 20th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, November 19th. Tenaris’s dividend payout ratio (DPR) is presently 67.53%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. AQR Capital Management LLC raised its position in Tenaris by 7.6% during the 3rd quarter. AQR Capital Management LLC now owns 26,327 shares of the industrial products company’s stock valued at $882,000 after purchasing an additional 1,861 shares in the last quarter. Fox Run Management L.L.C. raised its position in Tenaris by 17.3% during the 3rd quarter. Fox Run Management L.L.C. now owns 15,637 shares of the industrial products company’s stock valued at $524,000 after purchasing an additional 2,306 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in Tenaris by 50.2% during the 2nd 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 in the last quarter. Aperio Group LLC raised its position in Tenaris by 1.0% during the 3rd quarter. Aperio Group LLC now owns 248,246 shares of the industrial products company’s stock valued at $8,321,000 after purchasing an additional 2,455 shares in the last quarter. Finally, HAP Trading LLC raised its position in Tenaris by 28.5% during the 3rd quarter. HAP Trading LLC now owns 14,665 shares of the industrial products company’s stock valued at $492,000 after purchasing an additional 3,252 shares in the last quarter. 13.24% of the stock is owned by institutional investors and hedge funds.

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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