Tenaris (NYSE:TS) had its target price decreased by UBS Group from $40.00 to $26.00 in a report released on Friday morning, www.benzinga.com reports. UBS Group currently has a neutral rating on the industrial products company’s stock.
Other research analysts also recently issued research reports about the company. Citigroup downgraded Tenaris from a buy rating to a neutral rating in a research note on Friday, August 17th. Zacks Investment Research raised Tenaris from a hold rating to a buy rating and set a $38.00 price objective on the stock in a research note on Thursday, October 11th. TheStreet downgraded Tenaris from a b rating to a c+ rating in a research note on Wednesday, August 15th. Stifel Nicolaus assumed coverage on Tenaris in a research note on Monday, September 10th. They issued a buy rating and a $41.00 price objective on the stock. Finally, Bank of America raised Tenaris from an underperform rating to a buy rating and raised their price objective for the stock from $30.00 to $40.00 in a research note on Tuesday, September 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $40.58.
Shares of NYSE TS traded down $0.58 during trading on Friday, hitting $22.85. The company had a trading volume of 3,650,785 shares, compared to its average volume of 2,407,275. Tenaris has a 12 month low of $22.82 and a 12 month high of $40.64. The company has a market capitalization of $13.83 billion, a P/E ratio of 29.68, a price-to-earnings-growth ratio of 0.41 and a beta of 0.68.
Tenaris (NYSE:TS) last posted its quarterly earnings data on Wednesday, October 31st. The industrial products company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.32 by $0.10. Tenaris had a return on equity of 6.94% and a net margin of 11.35%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter last year, the company earned $0.18 earnings per share. The business’s revenue for the quarter was up 45.7% compared to the same quarter last year. On average, analysts forecast that Tenaris will post 1.5 EPS for the current fiscal year.
The firm also recently announced a Semi-Annual dividend, which was paid on Wednesday, November 21st. Investors of record on Tuesday, November 20th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, November 19th. Tenaris’s dividend payout ratio (DPR) is presently 67.53%.
A number of institutional investors and hedge funds have recently modified their holdings of TS. Glenmede Trust Co. NA bought a new stake in Tenaris during the 3rd quarter valued at approximately $133,000. Moody National Bank Trust Division bought a new stake in Tenaris during the 3rd quarter valued at approximately $180,000. Seven Eight Capital LP purchased a new position in Tenaris during the 3rd quarter valued at approximately $229,000. Greenleaf Trust purchased a new position in Tenaris during the 2nd quarter valued at approximately $240,000. Finally, Cubist Systematic Strategies LLC grew its holdings in Tenaris by 50.2% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 7,208 shares of the industrial products company’s stock valued at $262,000 after buying an additional 2,408 shares in the last quarter. 13.24% of the stock is currently owned by institutional investors.
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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