Sanford C. Bernstein assumed coverage on shares of Tenaris (NYSE:TS) in a research report report published on Monday, Benzinga reports. The brokerage issued an outperform rating on the industrial products company’s stock. The analysts noted that the move was a valuation call.
TS has been the subject of a number of other reports. Morgan Stanley downgraded Tenaris from an overweight rating to an equal weight rating in a research report on Thursday, November 7th. ValuEngine raised Tenaris from a sell rating to a hold rating in a research report on Friday, January 3rd. Barclays reissued a buy rating and set a $30.00 price objective on shares of Tenaris in a research report on Tuesday, November 5th. Finally, Zacks Investment Research downgraded Tenaris from a hold rating to a strong sell rating in a research report on Friday, November 15th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. Tenaris presently has a consensus rating of Hold and an average target price of $29.85.
NYSE TS opened at $22.50 on Monday. The company has a market cap of $13.35 billion, a P/E ratio of 15.20, a P/E/G ratio of 1.77 and a beta of 1.23. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.98 and a quick ratio of 1.76. The stock has a 50-day moving average of $22.39 and a two-hundred day moving average of $22.57. Tenaris has a 1-year low of $19.90 and a 1-year high of $30.32.
Tenaris (NYSE:TS) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.13). Tenaris had a return on equity of 6.75% and a net margin of 10.66%. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the firm posted $0.42 earnings per share. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. On average, analysts anticipate that Tenaris will post 1.28 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in the company. Northwestern Mutual Investment Management Company LLC grew its position in shares of Tenaris by 41.9% during the third quarter. Northwestern Mutual Investment Management Company LLC now owns 59,870 shares of the industrial products company’s stock worth $1,268,000 after buying an additional 17,670 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Tenaris by 8.6% in the third quarter. SG Americas Securities LLC now owns 250,231 shares of the industrial products company’s stock valued at $5,300,000 after purchasing an additional 19,740 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in Tenaris by 26.6% in the third quarter. Lindbrook Capital LLC now owns 3,894 shares of the industrial products company’s stock valued at $82,000 after purchasing an additional 819 shares in the last quarter. FNY Investment Advisers LLC boosted its holdings in Tenaris by 451.7% in the third quarter. FNY Investment Advisers LLC now owns 80,000 shares of the industrial products company’s stock valued at $1,694,000 after purchasing an additional 65,500 shares in the last quarter. Finally, SPX Equities Gestao de Recursos Ltda acquired a new position in Tenaris in the third quarter valued at approximately $2,542,000. 14.11% of the stock is owned by institutional investors and hedge funds.
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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