Tenaris Now Covered by Citigroup Inc. (TS)
Investment analysts at Citigroup Inc. started coverage on shares of Tenaris (NYSE:TS) in a note issued to investors on Thursday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.
TS has been the subject of a number of other recent research reports. Analysts at UBS AG cut their price target on shares of Tenaris from $46.00 to $41.50 in a research note to investors on Monday, October 7th. They now have a “sell” rating on the stock. Separately, 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. Finally, 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. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $45.16.
Tenaris (NYSE:TS) traded up 0.52% on Thursday, hitting $47.685. 524,683 shares of the company’s stock traded hands. Tenaris has a 52 week low of $36.01 and a 52 week high of $49.87. The stock’s 50-day moving average is $46.51 and its 200-day moving average is $43.81. The company has a market cap of $28.147 billion and a P/E ratio of 17.00.
Tenaris (NYSE:TS) last posted its quarterly earnings results 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. On average, analysts predict that Tenaris will post $2.86 earnings per share for the current fiscal year.
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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