A number of other brokerages also recently issued reports on TS. Zacks Investment Research raised shares of Tenaris SA from a hold rating to a buy rating and set a $32.00 price target on the stock in a report on Thursday, June 30th. Raymond James Financial Inc. reissued a hold rating on shares of Tenaris SA in a report on Thursday, June 23rd. Finally, Goldman Sachs Group Inc. downgraded shares of Tenaris SA from a buy rating to a neutral rating in a report on Wednesday, July 20th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. The company presently has an average rating of Hold and an average target price of $29.33.
Shares of Tenaris SA (NYSE:TS) opened at 28.71 on Tuesday. The company’s market capitalization is $16.95 billion. The stock has a 50 day moving average of $27.45 and a 200-day moving average of $27.06. Tenaris SA has a 12-month low of $18.53 and a 12-month high of $29.89.
Tenaris SA (NYSE:TS) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.04. Tenaris SA had a negative return on equity of 3.33% and a negative net margin of 7.40%. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period last year, the company posted $0.06 earnings per share. The business’s quarterly revenue was down 40.0% on a year-over-year basis. Equities research analysts forecast that Tenaris SA will post ($0.41) EPS for the current year.
Large investors have recently modified their holdings of the stock. Advisor Group Inc. purchased a new stake in Tenaris SA during the second quarter valued at about $117,000. BOKF NA boosted its stake in Tenaris SA by 9,446.0% in the second quarter. BOKF NA now owns 4,773 shares of the company’s stock valued at $138,000 after buying an additional 4,723 shares during the last quarter. Independent Portfolio Consultants Inc. boosted its stake in Tenaris SA by 684.7% in the second quarter. Independent Portfolio Consultants Inc. now owns 5,650 shares of the company’s stock valued at $163,000 after buying an additional 4,930 shares during the last quarter. Avalon Advisors LLC purchased a new stake in Tenaris SA during the first quarter valued at about $201,000. Finally, First Trust Advisors LP purchased a new stake in Tenaris SA during the second quarter valued at about $203,000. Institutional investors and hedge funds own 16.38% of the company’s stock.
Tenaris SA Company Profile
Tenaris SA is a holding company, which is a supplier of steel pipe products and related services for energy industry and other industrial applications. The Company operates through Tubes business segment. The Tubes segment includes the production and sale of both seamless and welded steel tubular products, and related services primarily for the oil and gas industry, principally oil country tubular goods used in drilling operations, and for other industrial applications with production processes.
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