Tenaris (NYSE:TS)‘s stock had its “buy” rating reissued by research analysts at BTIG Research in a research note issued on Tuesday, The Fly reports.
A number of other research firms have also recently commented on TS. ValuEngine upgraded shares of Tenaris from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Sanford C. Bernstein assumed coverage on Tenaris in a report on Monday. They set an “outperform” rating for the company. They noted that the move was a valuation call. Barclays reiterated a “buy” rating and set a $30.00 target price on shares of Tenaris in a report on Tuesday, November 5th. Zacks Investment Research cut Tenaris from a “hold” rating to a “strong sell” rating in a report on Friday, November 15th. Finally, Morgan Stanley cut Tenaris from an “overweight” rating to an “equal weight” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $29.85.
TS opened at $22.50 on Tuesday. The company has a quick ratio of 1.76, a current ratio of 2.98 and a debt-to-equity ratio of 0.02. Tenaris has a 12 month low of $19.90 and a 12 month high of $30.32. The company has a fifty day simple moving average of $22.39 and a 200 day simple moving average of $22.57. The stock 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.
Tenaris (NYSE:TS) last released 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 net margin of 10.66% and a return on equity of 6.75%. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the company earned $0.42 EPS. Tenaris’s quarterly revenue was down 8.0% on a year-over-year basis. On average, equities research analysts expect that Tenaris will post 1.28 earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in the business. Lindbrook Capital LLC grew its holdings in shares of Tenaris by 26.6% in 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 grew its holdings in shares of Tenaris by 94.1% in 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 grew its holdings in shares of Tenaris by 9.5% in 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. First Trust Advisors LP acquired a new stake in Tenaris in the 1st quarter valued at about $219,000. Finally, United Capital Financial Advisers LLC acquired a new stake in Tenaris in the 2nd quarter valued at about $222,000. Hedge funds and other institutional investors own 14.11% of the company’s stock.
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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