Tenaris (TS) Coverage Initiated at Barclays

Stock analysts at Barclays initiated coverage on shares of Tenaris (NYSE:TS) in a report released on Wednesday, MarketBeat.com reports. The firm set an “overweight” rating and a $39.00 price target on the industrial products company’s stock. Barclays’ price target would indicate a potential upside of 25.08% from the stock’s previous close.

TS has been the subject of a number of other research reports. Cowen set a $28.00 price target on shares of Tenaris and gave the stock a “hold” rating in a report on Friday, October 6th. Macquarie raised shares of Tenaris from an “underperform” rating to a “neutral” rating in a report on Friday, November 17th. Loop Capital increased their price objective on shares of Tenaris from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Finally, TheStreet raised shares of Tenaris from a “c” rating to a “b-” rating in a research note on Tuesday, December 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $35.75.

Shares of Tenaris (NYSE:TS) traded up $0.58 during trading on Wednesday, hitting $31.18. 2,160,000 shares of the stock were exchanged, compared to its average volume of 1,420,000. Tenaris has a 12 month low of $25.91 and a 12 month high of $37.21. The company has a market cap of $18,270.00, a P/E ratio of 55.69 and a beta of 0.65.

Tenaris (NYSE:TS) last issued its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.09. Tenaris had a net margin of 8.81% and a return on equity of 2.77%. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the prior year, the firm posted $0.03 EPS. The firm’s quarterly revenue was up 32.0% on a year-over-year basis. equities research analysts forecast that Tenaris will post 0.49 EPS for the current year.

A number of large investors have recently modified their holdings of the stock. Harding Loevner LP raised its stake in shares of Tenaris by 308.3% during the third quarter. Harding Loevner LP now owns 59,606,642 shares of the industrial products company’s stock valued at $378,234,000 after acquiring an additional 45,007,915 shares during the last quarter. Westwood Holdings Group Inc. raised its stake in shares of Tenaris by 32.8% during the second quarter. Westwood Holdings Group Inc. now owns 1,562,694 shares of the industrial products company’s stock valued at $48,662,000 after acquiring an additional 386,132 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Tenaris by 9.1% during the third quarter. Van ECK Associates Corp now owns 3,608,913 shares of the industrial products company’s stock valued at $102,168,000 after acquiring an additional 300,807 shares during the last quarter. DSAM Partners London Ltd bought a new position in shares of Tenaris during the third quarter valued at $4,784,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Tenaris by 8,750.8% during the third quarter. JPMorgan Chase & Co. now owns 137,630 shares of the industrial products company’s stock valued at $3,897,000 after acquiring an additional 136,075 shares during the last quarter. 15.08% of the stock is owned by institutional investors and hedge funds.

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Tenaris Company Profile

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.

Analyst Recommendations for Tenaris (NYSE:TS)