Tenaris SA (NYSE:TS) was upgraded by stock analysts at Piper Jaffray Cos. from a “neutral” rating to an “overweight” rating in a note issued to investors on Tuesday, The Fly reports.
Several other equities analysts also recently weighed in on the company. Zacks Investment Research downgraded Tenaris SA from a “hold” rating to a “sell” rating in a research report on Wednesday, October 12th. Berenberg Bank started coverage on Tenaris SA in a report on Tuesday, October 11th. They set a “hold” rating on the stock. Goldman Sachs Group Inc. cut Tenaris SA from a “buy” rating to a “neutral” rating in a report on Wednesday, July 20th. Finally, Raymond James Financial Inc. reissued a “hold” rating on shares of Tenaris SA in a report on Thursday, June 23rd. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $29.33.
Tenaris SA (NYSE:TS) opened at 28.80 on Tuesday. The stock has a 50 day moving average price of $27.51 and a 200-day moving average price of $27.20. The stock’s market capitalization is $17.00 billion. Tenaris SA has a 12-month low of $18.53 and a 12-month high of $29.89.
Tenaris SA (NYSE:TS) last released its earnings results on Wednesday, August 3rd. The company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.04. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Tenaris SA had a negative net margin of 7.40% and a negative return on equity of 3.33%. Tenaris SA’s revenue for the quarter was down 40.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.06 earnings per share. On average, equities analysts anticipate that Tenaris SA will post ($0.41) earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of TS. Advisor Group Inc. bought a new stake in shares of Tenaris SA during the second quarter valued at $117,000. BOKF NA boosted its stake in shares of Tenaris SA by 9,446.0% in the second quarter. BOKF NA now owns 4,773 shares of the company’s stock valued at $138,000 after buying an additional 4,723 shares during the last quarter. Independent Portfolio Consultants Inc. boosted its stake in shares of Tenaris SA by 684.7% in the second quarter. Independent Portfolio Consultants Inc. now owns 5,650 shares of the company’s stock valued at $163,000 after buying an additional 4,930 shares during the last quarter. First Trust Advisors LP bought a new stake in shares of Tenaris SA during the second quarter valued at $203,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Tenaris SA during the second quarter valued at $208,000. 16.47% of the stock is currently owned by hedge funds and other institutional investors.
About Tenaris SA
Tenaris SA is a holding company, which is a supplier of steel pipe products and related services for energy industry and other industrial applications. The Company 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 used in drilling operations, and for other industrial applications with production processes.