Tenaris Stock Rating Lowered by Merrill Lynch (TS)
Tenaris (NYSE:TS) was downgraded by equities researchers at Merrill Lynch from a “buy” rating to a “neutral” rating in a research report issued on Friday, Stock Ratings Network reports.
Shares of Tenaris (NYSE:TS) traded down 3.38% on Friday, hitting $46.84. 2,629,446 shares of the company’s stock traded hands. Tenaris has a 1-year low of $36.01 and a 1-year high of $49.87. The stock’s 50-day moving average is $46.37 and its 200-day moving average is $43.23. The company has a market cap of $27.648 billion and a price-to-earnings ratio of 17.38.
Tenaris (NYSE:TS) last released its earnings data on Thursday, August 1st. The company reported $0.71 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.73 by $0.02. The company had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.72 billion. During the same quarter last year, the company posted $0.78 earnings per share. Tenaris’s revenue was up 5.6% compared to the same quarter last year.
Several other analysts have also recently commented on the stock. Analysts at Bank of America Corp. downgraded shares of Tenaris (NYSE:TS) from a “buy” rating to a “neutral” rating in a research note to investors on Friday. Separately, analysts at UBS AG downgraded shares of Tenaris (NYSE:TS) from a “neutral” rating to a “sell” rating in a research note to investors on Monday. Finally, analysts at Barclays Capital raised their price target on shares of Tenaris (NYSE:TS) from $45.00 to $50.00 in a research note to investors on Tuesday, September 3rd. They now have an “equal weight” rating on the stock. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. Tenaris presently has an average rating of “Hold” and an average target price of $45.69.
Tenaris SA is a Luxembourg-based holding company active in the supply of tubes and related services mainly for the energy industry and certain other industrial applications.
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