Tenaris SA (TS) Receives New Coverage from Analysts at Berenberg Bank
Equities research analysts at Berenberg Bank started coverage on shares of Tenaris SA (NYSE:TS) in a note issued to investors on Tuesday, The Fly reports. The firm set a “hold” rating on the stock.
Several other brokerages have also recently issued reports on TS. Zacks Investment Research upgraded shares of Tenaris SA from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Thursday, June 30th. Raymond James Financial Inc. restated a “hold” rating on shares of Tenaris SA in a report on Thursday, June 23rd. Finally, Goldman Sachs Group Inc. cut shares of Tenaris SA from a “buy” rating to a “neutral” rating in a report on Wednesday, July 20th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $29.33.
Tenaris SA (NYSE:TS) opened at 29.38 on Tuesday. Tenaris SA has a 1-year low of $18.53 and a 1-year high of $29.89. The firm’s 50-day moving average price is $27.44 and its 200-day moving average price is $27.05. The firm’s market cap is $17.34 billion.
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Tenaris SA (NYSE:TS) last issued its earnings results on Wednesday, August 3rd. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.04. Tenaris SA had a negative return on equity of 3.33% and a negative net margin of 7.40%. The company earned $1.12 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the business posted $0.06 EPS. The company’s revenue for the quarter was down 40.0% compared to the same quarter last year. Equities research analysts anticipate that Tenaris SA will post ($0.41) earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in the stock. Ameriprise Financial Inc. increased its stake in shares of Tenaris SA by 1.2% in the second quarter. Ameriprise Financial Inc. now owns 23,307 shares of the company’s stock worth $672,000 after buying an additional 281 shares in the last quarter. Independent Portfolio Consultants Inc. increased its stake in shares of Tenaris SA by 5.2% in the third quarter. Independent Portfolio Consultants Inc. now owns 5,945 shares of the company’s stock worth $169,000 after buying an additional 295 shares in the last quarter. I.G. Investment Management LTD. increased its stake in shares of Tenaris SA by 0.6% in the second quarter. I.G. Investment Management LTD. now owns 140,214 shares of the company’s stock worth $4,044,000 after buying an additional 900 shares in the last quarter. Highland Capital Management LLC increased its stake in shares of Tenaris SA by 4.0% in the second quarter. Highland Capital Management LLC now owns 46,409 shares of the company’s stock worth $1,338,000 after buying an additional 1,800 shares in the last quarter. Finally, World Asset Management Inc increased its stake in shares of Tenaris SA by 8.3% in the second quarter. World Asset Management Inc now owns 36,533 shares of the company’s stock worth $1,054,000 after buying an additional 2,804 shares in the last quarter. Hedge funds and other institutional investors own 16.38% of the company’s stock.
About Tenaris SA
Tenaris SA is a holding company, which is a supplier of steel pipe products and related services for energy industry and other industrial applications. The Company operates through Tubes business segment. The Tubes segment includes the production and sale of both seamless and welded steel tubular products, and related services primarily for the oil and gas industry, principally oil country tubular goods used in drilling operations, and for other industrial applications with production processes.
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