Tenaris (NYSE:TS) Lowered to “Strong Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Tenaris (NYSE:TS) from a hold rating to a strong sell rating in a research report sent to investors on Friday morning, Zacks.com reports.

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. “

TS has been the topic of several other reports. Wolfe Research upgraded shares of Tenaris from a peer perform rating to an outperform rating and set a $28.00 price target on the stock in a research report on Wednesday, August 21st. Barclays restated a buy rating and issued a $30.00 price target on shares of Tenaris in a research report on Tuesday, November 5th. ValuEngine upgraded shares of Tenaris from a sell rating to a hold rating in a research report on Wednesday, October 2nd. TheStreet lowered shares of Tenaris from a b- rating to a c+ rating in a research report on Tuesday, August 13th. Finally, Stifel Nicolaus decreased their price target on shares of Tenaris from $35.00 to $33.00 and set a buy rating on the stock in a research report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. Tenaris currently has an average rating of Hold and a consensus target price of $29.42.

TS traded down $0.12 during trading on Friday, hitting $21.51. The stock had a trading volume of 1,428,044 shares, compared to its average volume of 2,381,909. The firm has a market cap of $12.64 billion, a PE ratio of 14.53, a P/E/G ratio of 1.78 and a beta of 1.18. Tenaris has a 12 month low of $19.90 and a 12 month high of $30.32. The company has a current ratio of 2.98, a quick ratio of 1.76 and a debt-to-equity ratio of 0.02. The company has a 50 day simple moving average of $21.13 and a 200-day simple moving average of $23.57.

Tenaris (NYSE:TS) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.13). The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.86 billion. Tenaris had a return on equity of 6.75% and a net margin of 10.66%. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.42 earnings per share. As a group, sell-side analysts anticipate that Tenaris will post 1.25 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the company. Quantamental Technologies LLC acquired a new stake in shares of Tenaris during the 2nd quarter valued at about $97,000. Lindbrook Capital LLC boosted its position in shares of Tenaris by 26.6% during the 3rd quarter. Lindbrook Capital LLC now owns 3,894 shares of the industrial products company’s stock valued at $82,000 after acquiring an additional 819 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Tenaris by 94.1% during the 2nd quarter. Royal Bank of Canada now owns 4,922 shares of the industrial products company’s stock valued at $130,000 after acquiring an additional 2,386 shares in the last quarter. Rehmann Capital Advisory Group boosted its position in shares of Tenaris by 9.5% during the 2nd quarter. Rehmann Capital Advisory Group now owns 5,325 shares of the industrial products company’s stock valued at $140,000 after acquiring an additional 464 shares in the last quarter. Finally, First Trust Advisors LP acquired a new stake in shares of Tenaris during the 1st quarter valued at about $219,000. Institutional investors and hedge funds own 14.04% of the company’s stock.

Tenaris Company Profile

Tenaris SA, through its subsidiaries, produces and sells seamless and welded steel tubular products; and provides 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, perforating guns, tubular accessories, and non-tubular accessories and devices.

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