Tenaris (NYSE:TS) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Friday, January 5th. The firm presently has a $37.00 target price on the industrial products company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 8.57% 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. “
Several other equities research analysts also recently issued reports on the company. Barclays assumed coverage on Tenaris in a report on Wednesday, December 20th. They set an “overweight” rating and a $39.00 price objective on the stock. TheStreet upgraded Tenaris from a “c” rating to a “b-” rating in a research report on Tuesday, December 12th. Macquarie upgraded Tenaris from an “underperform” rating to a “neutral” rating in a research report on Friday, November 17th. Loop Capital lifted their target price on Tenaris from $36.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Finally, Cowen set a $28.00 target price on Tenaris and gave the stock a “hold” rating in a research report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $36.25.
Tenaris (TS) traded up $1.18 during mid-day trading on Friday, reaching $34.08. The company’s stock had a trading volume of 2,721,900 shares, compared to its average volume of 2,128,875. Tenaris has a 52 week low of $25.91 and a 52 week high of $37.21. The stock has a market cap of $20,180.00, a P/E ratio of 71.00 and a beta of 0.65.
Tenaris (NYSE:TS) last posted its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.09. Tenaris had a return on equity of 2.77% and a net margin of 8.81%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the previous year, the business earned $0.03 EPS. Tenaris’s revenue for the quarter was up 32.0% compared to the same quarter last year. research analysts anticipate that Tenaris will post 0.49 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in TS. Harding Loevner LP boosted its position in Tenaris by 308.3% during the 3rd quarter. Harding Loevner LP now owns 59,606,642 shares of the industrial products company’s stock valued at $378,234,000 after purchasing an additional 45,007,915 shares during the period. Westwood Holdings Group Inc. boosted its position in Tenaris by 32.8% during the 2nd quarter. Westwood Holdings Group Inc. now owns 1,562,694 shares of the industrial products company’s stock valued at $48,662,000 after purchasing an additional 386,132 shares during the period. Van ECK Associates Corp boosted its position in Tenaris by 9.1% during the 3rd quarter. Van ECK Associates Corp now owns 3,608,913 shares of the industrial products company’s stock valued at $102,168,000 after purchasing an additional 300,807 shares during the period. DSAM Partners London Ltd acquired a new position in Tenaris during the 3rd quarter valued at approximately $4,784,000. Finally, JPMorgan Chase & Co. boosted its position in Tenaris by 8,750.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 137,630 shares of the industrial products company’s stock valued at $3,897,000 after purchasing an additional 136,075 shares during the period. Institutional investors and hedge funds own 15.08% of the company’s stock.
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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