Shares of Tenaris (NYSE:TS) gapped down prior to trading on Friday . The stock had previously closed at $39.14, but opened at $38.18. Tenaris shares last traded at $37.39, with a volume of 2587500 shares.
Several analysts recently weighed in on TS shares. Barclays set a $46.00 price objective on shares of Tenaris and gave the stock a “buy” rating in a research note on Sunday, May 6th. Morgan Stanley boosted their price objective on shares of Tenaris from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Zacks Investment Research cut shares of Tenaris from a “buy” rating to a “hold” rating in a research note on Tuesday, May 1st. UBS raised shares of Tenaris from a “sell” rating to a “hold” rating and set a $38.00 price objective on the stock in a research note on Friday, March 16th. Finally, Citigroup raised shares of Tenaris from a “neutral” rating to a “buy” rating and set a $43.00 price objective on the stock in a research note on Wednesday, April 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $39.54.
The firm has a market cap of $22.97 billion, a PE ratio of 48.56, a price-to-earnings-growth ratio of 0.81 and a beta of 0.69.
Tenaris (NYSE:TS) last released its earnings results on Wednesday, February 21st. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.06. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.49 billion. Tenaris had a net margin of 9.58% and a return on equity of 4.95%. sell-side analysts expect that Tenaris will post 1.34 earnings per share for the current year.
A number of hedge funds have recently added to or reduced their stakes in TS. Millennium Management LLC lifted its holdings in Tenaris by 148.9% in the first quarter. Millennium Management LLC now owns 4,392,857 shares of the industrial products company’s stock valued at $152,300,000 after buying an additional 2,628,095 shares during the period. Arosa Capital Management LP acquired a new position in shares of Tenaris during the first quarter valued at about $48,191,000. Luminus Management LLC raised its holdings in shares of Tenaris by 30.2% during the fourth quarter. Luminus Management LLC now owns 3,562,689 shares of the industrial products company’s stock valued at $113,508,000 after purchasing an additional 826,285 shares during the period. AGF Investments Inc. raised its holdings in shares of Tenaris by 76.9% during the fourth quarter. AGF Investments Inc. now owns 563,484 shares of the industrial products company’s stock valued at $17,953,000 after purchasing an additional 245,010 shares during the period. Finally, Centenus Global Management LP acquired a new position in shares of Tenaris during the fourth quarter valued at about $6,372,000. Institutional investors and hedge funds own 14.38% of the company’s stock.
Tenaris Company Profile
Tenaris SA produces and sells seamless and welded steel tubular products and related services for the oil and gas industry, and other industrial applications. The company offers products for oil and gas drilling operations, such as casing and tubing products, premium connections, drill pipes, coiled tubing, hot-rolled and cold-drawn seamless tubes, tubular and non-tubular accessories, and devices.
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