UBS AG Lowers Tenaris Price Target to $41.50 (TS)
Equities research analysts at UBS AG reduced their price objective on shares of Tenaris (NYSE:TS) from $46.00 to $41.50 in a research note issued to investors on Monday, Analyst Ratings Network reports. The firm currently has a “sell” rating on the stock. UBS AG’s price target points to a potential downside of 9.76% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Merrill Lynch downgraded shares of Tenaris from a “buy” rating to a “neutral” rating in a research note to investors on Friday, September 27th. Separately, analysts at Bank of America Corp. downgraded shares of Tenaris from a “buy” rating to a “neutral” rating in a research note to investors on Friday, September 27th. Finally, analysts at Barclays Capital raised their price target on shares of Tenaris 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 analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $45.16.
Shares of Tenaris (NYSE:TS) traded up 0.33% on Monday, hitting $45.99. 950,266 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 has a 50-day moving average of $46.44 and a 200-day moving average of $43.49. The company has a market cap of $27.146 billion and a P/E ratio of 16.43.
Tenaris (NYSE:TS) last released its earnings data on Thursday, August 1st. The company reported $0.71 earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted $0.78 earnings per share. The company’s revenue for the quarter was up 5.6% on a year-over-year basis.
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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