Tenaris (TS) Rating Increased to B- at TheStreet
Tenaris (NYSE:TS) was upgraded by stock analysts at TheStreet from a “c” rating to a “b-” rating in a research note issued on Tuesday.
TS has been the subject of several other reports. BidaskClub downgraded shares of Tenaris from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Loop Capital lifted their price objective on shares of Tenaris from $36.00 to $37.00 and gave the stock 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 price objective on shares of Tenaris and gave the stock a “hold” rating in a research note on Friday, October 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $35.39.
Shares of Tenaris (NYSE TS) traded up $0.05 on Tuesday, reaching $31.10. 1,634,400 shares of the company’s stock traded hands, compared to its average volume of 2,076,905. The firm has a market capitalization of $18,327.82, a P/E ratio of 56.46 and a beta of 0.65. Tenaris has a 52 week low of $25.91 and a 52 week high of $37.21.
Tenaris (NYSE:TS) last announced its earnings results on Wednesday, November 1st. The industrial products company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.09. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.30 billion. Tenaris had a net margin of 8.81% and a return on equity of 2.77%. Tenaris’s revenue was up 32.0% compared to the same quarter last year. During the same period last year, the firm earned $0.03 earnings per share. analysts anticipate that Tenaris will post 0.49 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC purchased a new stake in shares of Tenaris during the third quarter worth about $1,161,000. Oppenheimer Asset Management Inc. increased its stake in shares of Tenaris by 11.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 44,033 shares of the industrial products company’s stock worth $1,247,000 after purchasing an additional 4,584 shares in the last quarter. NWQ Investment Management Company LLC increased its stake in shares of Tenaris by 21.9% during the third quarter. NWQ Investment Management Company LLC now owns 709,790 shares of the industrial products company’s stock worth $20,094,000 after purchasing an additional 127,298 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of Tenaris by 1.9% during the third quarter. Mackenzie Financial Corp now owns 2,164,733 shares of the industrial products company’s stock worth $61,284,000 after purchasing an additional 40,123 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI purchased a new stake in shares of Tenaris during the third quarter worth about $1,339,000. 19.37% of the stock is owned by institutional investors and hedge funds.
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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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