FY2018 EPS Estimates for Tenaris S.A. (TS) Lowered by Analyst
Tenaris S.A. (NYSE:TS) – Capital One Financial Corporation lowered their FY2018 earnings per share estimates for Tenaris in a research report issued on Monday. Capital One Financial Corporation analyst J. Gibney now forecasts that the industrial products company will post earnings of $0.75 per share for the year, down from their previous estimate of $0.78.
Several other analysts have also commented on the stock. Cowen and Company set a $28.00 price target on shares of Tenaris and gave the company a “hold” rating in a research report on Friday, October 6th. BidaskClub lowered shares of Tenaris from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th. Berenberg Bank reiterated a “hold” rating and issued a $30.00 price target on shares of Tenaris in a research report on Monday, August 7th. Scotiabank set a $40.00 price target on shares of Tenaris and gave the company a “buy” rating in a research report on Thursday, August 3rd. Finally, Zacks Investment Research lowered shares of Tenaris from a “buy” rating to a “hold” rating in a research report on Saturday, July 22nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. Tenaris presently has an average rating of “Hold” and a consensus target price of $35.35.
Tenaris (NYSE TS) traded down 0.80% on Wednesday, reaching $27.23. 661,007 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $27.92 and a 200-day moving average of $30.35. The company has a market cap of $16.07 billion, a P/E ratio of 544.60 and a beta of 0.66. Tenaris has a 12-month low of $26.48 and a 12-month high of $37.21.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its position in Tenaris by 1,187.5% during the first quarter. JPMorgan Chase & Co. now owns 6,502 shares of the industrial products company’s stock worth $222,000 after acquiring an additional 5,997 shares during the last quarter. Paloma Partners Management Co acquired a new stake in Tenaris during the first quarter worth approximately $251,000. D.A. Davidson & CO. boosted its position in Tenaris by 15.0% during the second quarter. D.A. Davidson & CO. now owns 7,742 shares of the industrial products company’s stock worth $241,000 after acquiring an additional 1,011 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Tenaris by 41.4% during the first quarter. BNP Paribas Arbitrage SA now owns 8,200 shares of the industrial products company’s stock worth $280,000 after acquiring an additional 2,400 shares during the last quarter. Finally, Airain ltd acquired a new stake in Tenaris during the second quarter worth approximately $264,000. Hedge funds and other institutional investors own 15.97% of the company’s stock.
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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