Tenaris SA (TS) Receives Average Recommendation of “Buy” from Analysts
Shares of Tenaris SA (NYSE:TS) have been assigned a consensus rating of “Buy” from the thirteen brokerages that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $35.75.
TS has been the subject of a number of analyst reports. TheStreet raised Tenaris from a “c” rating to a “b-” rating in a research note on Tuesday, December 12th. Loop Capital boosted their price target on Tenaris from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Cowen set a $28.00 target price on Tenaris and gave the stock a “hold” rating in a research note on Friday, October 6th. Macquarie raised Tenaris from an “underperform” rating to a “neutral” rating in a research note on Friday, November 17th. Finally, Barclays assumed coverage on Tenaris in a research note on Wednesday, December 20th. They set an “overweight” rating and a $39.00 target price for the company.
Hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA increased its stake in shares of Tenaris by 7.2% in the second quarter. BNP Paribas Arbitrage SA now owns 8,793 shares of the industrial products company’s stock valued at $274,000 after buying an additional 593 shares during the period. Airain ltd acquired a new position in shares of Tenaris in the second quarter valued at approximately $264,000. Oppenheimer Asset Management Inc. increased its stake in shares of Tenaris by 4.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 39,449 shares of the industrial products company’s stock valued at $1,228,000 after buying an additional 1,646 shares during the period. FNY Partners Fund LP increased its stake in shares of Tenaris by 37.0% in the second quarter. FNY Partners Fund LP now owns 31,500 shares of the industrial products company’s stock valued at $980,000 after buying an additional 8,500 shares during the period. Finally, HAP Trading LLC acquired a new position in shares of Tenaris in the second quarter valued at approximately $626,000. 15.08% of the stock is owned by hedge funds and other institutional investors.
Tenaris (NYSE:TS) last posted its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.09. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.30 billion. Tenaris had a return on equity of 2.77% and a net margin of 8.81%. Tenaris’s revenue for the quarter was up 32.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.03 earnings per share. analysts predict that Tenaris will post 0.49 EPS for the current fiscal year.
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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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