Tenaris Upgraded to “Outperform” at Howard Weil (TS)
Tenaris (NYSE:TS) was upgraded by analysts at Howard Weil from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $53.00 target price on the stock. Howard Weil’s target price points to a potential upside of 28.05% from the company’s current price.
Tenaris (NYSE:TS) traded up 2.49% during mid-day trading on Thursday, hitting $42.42. 254,381 shares of the company’s stock traded hands. Tenaris has a 1-year low of $38.47 and a 1-year high of $49.87. The stock has a 50-day moving average of $43.46 and a 200-day moving average of $45.04. The company has a market cap of $25.039 billion and a price-to-earnings ratio of 16.14.
Tenaris (NYSE:TS) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by $0.41. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the previous year, the company posted $0.37 earnings per share. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. On average, analysts predict that Tenaris will post $2.64 earnings per share for the current fiscal year.
A number of other firms have also recently commented on TS. Analysts at Barclays raised their price target on shares of Tenaris from $47.00 to $49.00 in a research note to investors on Tuesday, December 17th. They now have an “equal weight” rating on the stock. Separately, analysts at Zacks downgraded shares of Tenaris from a “neutral” rating to an “underperform” rating in a research note to investors on Monday, December 9th. They now have a $41.70 price target on the stock. Finally, analysts at Natixis downgraded shares of Tenaris from a “neutral” rating to a “reduce” rating in a research note to investors on Friday, November 8th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $46.28.
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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