Tenaris S.A. Upgraded to “Buy” at Guggenheim (TS)
Tenaris S.A. (NYSE:TS) was upgraded by investment analysts at Guggenheim from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, TheFlyOnTheWall.com reports. The firm currently has a $55.00 price objective on the stock, up from their previous price objective of $47.00. Guggenheim’s target price would indicate a potential upside of 21.23% from the stock’s previous close.
TS has been the subject of a number of other recent research reports. Analysts at Morgan Stanley downgraded shares of Tenaris S.A. from an “overweight” rating to an “equal weight” rating in a research note on Friday, May 9th. Separately, analysts at Barclays reiterated an “equal weight” rating on shares of Tenaris S.A. in a research note on Monday, May 5th. They now have a $41.00 price target on the stock. Finally, analysts at Howard Weil downgraded shares of Tenaris S.A. from a “sector outperform” rating to a “sector perform” rating in a research note on Tuesday, May 6th. They now have a $47.00 price target on the stock, down previously from $49.00. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $47.45.
Shares of Tenaris S.A. (NYSE:TS) opened at 45.37 on Friday. Tenaris S.A. has a one year low of $38.47 and a one year high of $49.87. The stock has a 50-day moving average of $44. and a 200-day moving average of $43.80. The company has a market cap of $26.780 billion and a price-to-earnings ratio of 17.11.
Tenaris S.A. (NYSE:TS) last announced its earnings results on Thursday, May 1st. The company reported $0.36 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.34 by $0.02. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter last year, the company posted $0.36 earnings per share. Tenaris S.A.’s revenue was down 3.7% compared to the same quarter last year. On average, analysts predict that Tenaris S.A. will post $2.77 earnings per share for the current fiscal year.
Tenaris SA is a Luxembourg-based holding company engaged in the steel pipe manufacturing and distributing businesses.
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