Tenaris S.A. Forecasted to Post FY2017 Earnings of $0.68 Per Share (TS)
Tenaris S.A. (NYSE:TS) – Stock analysts at Capital One Financial Corporation increased their FY2017 earnings per share (EPS) estimates for shares of Tenaris in a report issued on Friday. Capital One Financial Corporation analyst J. Gibney now forecasts that the industrial products company will post earnings per share of $0.68 for the year, up from their prior forecast of $0.64. Capital One Financial Corporation also issued estimates for Tenaris’ Q4 2017 earnings at $0.23 EPS and FY2018 earnings at $0.75 EPS.
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TS has been the subject of a number of other research reports. Zacks Investment Research raised Tenaris from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a report on Tuesday, July 18th. BidaskClub lowered Tenaris from a “sell” rating to a “strong sell” rating in a report on Thursday, August 17th. Cowen and Company set a $28.00 target price on Tenaris and gave the stock a “hold” rating in a report on Friday, August 4th. Simmons reissued an “overweight” rating and issued a $35.50 target price (down previously from $39.00) on shares of Tenaris in a report on Wednesday, June 21st. Finally, Morgan Stanley reduced their target price on Tenaris from $44.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, June 21st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. Tenaris has a consensus rating of “Hold” and an average price target of $35.35.
Tenaris (NYSE TS) opened at 26.58 on Monday. The firm has a market capitalization of $15.69 billion, a price-to-earnings ratio of 47.46 and a beta of 0.65. Tenaris has a 12 month low of $25.19 and a 12 month high of $37.21. The stock’s 50 day moving average price is $29.12 and its 200-day moving average price is $31.19.
Several institutional investors and hedge funds have recently modified their holdings of TS. MARSHALL WACE ASIA Ltd bought a new stake in shares of Tenaris in the first quarter worth $47,489,000. Marshall Wace North America L.P. bought a new stake in shares of Tenaris in the first quarter worth $47,489,000. Renaissance Technologies LLC bought a new stake in shares of Tenaris in the first quarter worth $32,539,000. Wells Fargo & Company MN grew its holdings in shares of Tenaris by 95.8% in the first quarter. Wells Fargo & Company MN now owns 1,548,753 shares of the industrial products company’s stock worth $52,875,000 after acquiring an additional 757,748 shares during the period. Finally, Ruffer LLP grew its holdings in shares of Tenaris by 20.4% in the first quarter. Ruffer LLP now owns 3,137,174 shares of the industrial products company’s stock worth $104,916,000 after acquiring an additional 532,168 shares during the period. 15.98% of the stock is owned by institutional investors.
Tenaris SA is a holding company, which is a steel producer with production facilities in Mexico, Argentina, Colombia, United States and Guatemala. The Company supplies round steel bars and flat steel products for its pipes business. It 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 (OCTG) used in drilling operations, and for other industrial applications with production processes that include in the transformation of steel into tubular products.
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