Tenaris SA (TS) Raised to “Overweight” at Simmons
Tenaris SA (NYSE:TS) was upgraded by stock analysts at Simmons from a “neutral” rating to an “overweight” rating in a research note issued to investors on Tuesday.
A number of other equities analysts also recently weighed in on the company. Goldman Sachs Group Inc. downgraded Tenaris SA from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 20th. Berenberg Bank initiated coverage on Tenaris SA in a research report on Tuesday, October 11th. They set a “hold” rating on the stock. Zacks Investment Research downgraded Tenaris SA from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Raymond James Financial Inc. reissued a “hold” rating on shares of Tenaris SA in a research report on Thursday, June 23rd. Finally, Piper Jaffray Cos. raised Tenaris SA from a “neutral” rating to an “overweight” rating in a research report on Tuesday. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $29.33.
Tenaris SA (NYSE:TS) traded up 1.04% during trading on Tuesday, hitting $29.10. The company had a trading volume of 1,562,413 shares. The stock has a 50-day moving average of $27.51 and a 200 day moving average of $27.20. The company’s market capitalization is $17.18 billion. Tenaris SA has a one year low of $18.53 and a one year high of $29.89.
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Tenaris SA (NYSE:TS) last released its earnings results on Wednesday, August 3rd. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by $0.04. The company earned $1.12 billion during the quarter, compared to analyst estimates of $1.13 billion. Tenaris SA had a negative net margin of 7.40% and a negative return on equity of 3.33%. Tenaris SA’s revenue was down 40.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 EPS. Equities analysts forecast that Tenaris SA will post ($0.41) EPS for the current fiscal year.
Several large investors have recently modified their holdings of the stock. Advisor Group Inc. bought a new stake in shares of Tenaris SA during the second quarter valued at about $117,000. BOKF NA boosted its stake in shares of Tenaris SA by 9,446.0% in the second quarter. BOKF NA now owns 4,773 shares of the company’s stock valued at $138,000 after buying an additional 4,723 shares during the period. Independent Portfolio Consultants Inc. boosted its stake in shares of Tenaris SA by 684.7% in the second quarter. Independent Portfolio Consultants Inc. now owns 5,650 shares of the company’s stock valued at $163,000 after buying an additional 4,930 shares during the period. Avalon Advisors LLC bought a new stake in shares of Tenaris SA during the first quarter valued at about $201,000. Finally, First Trust Advisors LP bought a new stake in shares of Tenaris SA during the second quarter valued at about $203,000. Institutional investors and hedge funds own 16.47% of the company’s stock.
Tenaris SA Company Profile
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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