Tenaris (TS) PT Set at $33.00 by Cowen

Tenaris (NYSE:TS) has been given a $33.00 target price by research analysts at Cowen in a report issued on Thursday. The firm presently has a “hold” rating on the industrial products company’s stock. Cowen’s price objective points to a potential downside of 4.46% from the stock’s previous close.

Several other equities research analysts have also weighed in on the company. Macquarie raised Tenaris from an “underperform” rating to a “neutral” rating in a research note on Friday, November 17th. Loop Capital raised their price objective on Tenaris from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Zacks Investment Research raised Tenaris from a “hold” rating to a “strong-buy” rating and set a $37.00 price objective for the company in a research note on Friday, January 5th. TheStreet raised Tenaris from a “c” rating to a “b-” rating in a research note on Tuesday, December 12th. Finally, Barclays started coverage on Tenaris in a research note on Wednesday, December 20th. They set an “overweight” rating and a $39.00 price objective for the company. One analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $36.25.

Shares of Tenaris (NYSE TS) opened at $34.54 on Thursday. The firm has a market capitalization of $20,387.86, a price-to-earnings ratio of 62.80 and a beta of 0.65. Tenaris has a one year low of $25.91 and a one year high of $37.21.

Tenaris (NYSE:TS) last released its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.09. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.30 billion. Tenaris had a return on equity of 2.77% and a net margin of 8.81%. The company’s revenue was up 32.0% compared to the same quarter last year. During the same period last year, the company posted $0.03 EPS. sell-side analysts anticipate that Tenaris will post 0.49 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. D.A. Davidson & CO. lifted its holdings in shares of Tenaris by 15.0% in the second quarter. D.A. Davidson & CO. now owns 7,742 shares of the industrial products company’s stock valued at $241,000 after purchasing an additional 1,011 shares in the last quarter. FDx Advisors Inc. purchased a new stake in shares of Tenaris in the third quarter valued at $243,000. BNP Paribas Arbitrage SA lifted its holdings 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 purchasing an additional 593 shares in the last quarter. Virtu KCG Holdings LLC purchased a new stake in shares of Tenaris in the second quarter valued at $309,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in shares of Tenaris in the third quarter valued at $282,000. Institutional investors own 15.08% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Tenaris (TS) PT Set at $33.00 by Cowen” was originally reported by American Banking and Market News and is the sole property of of American Banking and Market News. If you are viewing this piece on another domain, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this piece can be read at https://www.americanbankingnews.com/2018/01/14/tenaris-ts-pt-set-at-33-00-by-cowen.html.

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)