Tenaris (TS) Upgraded at Zacks Investment Research
Tenaris (NYSE:TS) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Friday. The firm presently has a $37.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.85% from the company’s previous close.
According to Zacks, “Tenaris Sa, a corporation organized in Luxembourg, is a leading manufacturer and supplier of seamless steel pipe products and associated services to the oil and gas, energy and other industries. Tenaris’s operating subsidiaries include eight established steel pipe manufacturers: AlgomaTubes, Confab, Dalmine, NKKTubes, Siat, Siderca, Tamsa and Tavsa. “
Other equities analysts have also recently issued research reports about the company. TheStreet raised Tenaris from a “c” rating to a “b-” rating in a report on Tuesday, December 12th. Loop Capital increased their target price on Tenaris from $36.00 to $37.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Cowen set a $28.00 target price on Tenaris and gave the company a “hold” rating in a report on Friday, October 6th. Macquarie upgraded Tenaris from an “underperform” rating to a “neutral” rating in a research report on Friday, November 17th. Finally, Barclays started coverage on Tenaris in a research report on Wednesday, December 20th. They issued an “overweight” rating and a $39.00 price target for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $35.75.
Tenaris (NYSE:TS) last released its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.09. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Tenaris had a return on equity of 2.77% and a net margin of 8.81%. Tenaris’s quarterly revenue was up 32.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.03 EPS. research analysts forecast that Tenaris will post 0.49 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in TS. Kernodle & Katon Asset Management Group LLC acquired a new stake in shares of Tenaris in the third quarter valued at $129,000. Advisor Group Inc. raised its stake in shares of Tenaris by 16.0% in the third quarter. Advisor Group Inc. now owns 4,789 shares of the industrial products company’s stock valued at $136,000 after acquiring an additional 662 shares in the last quarter. Independent Portfolio Consultants Inc. raised its stake in shares of Tenaris by 684.7% in the second quarter. Independent Portfolio Consultants Inc. now owns 5,650 shares of the industrial products company’s stock valued at $163,000 after acquiring an additional 4,930 shares in the last quarter. Tyers Asset Management LLC acquired a new stake in shares of Tenaris in the fourth quarter valued at $173,000. Finally, Exane Derivatives raised its stake in shares of Tenaris by 77.2% in the first quarter. Exane Derivatives now owns 7,197 shares of the industrial products company’s stock valued at $178,000 after acquiring an additional 3,135 shares in the last quarter. Institutional investors and hedge funds own 15.08% of the company’s stock.
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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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