Tenaris SA (TS) Receives New Coverage from Analysts at Berenberg Bank
Berenberg Bank began coverage on shares of Tenaris SA (NYSE:TS) in a report issued on Tuesday. The firm set a “hold” rating on the stock.
Several other research analysts have also weighed in on TS. Zacks Investment Research raised Tenaris SA from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Thursday, June 30th. Raymond James Financial Inc. reissued a “hold” rating on shares of Tenaris SA in a research report on Thursday, June 23rd. Finally, Goldman Sachs Group Inc. lowered Tenaris SA from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 20th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Tenaris SA currently has a consensus rating of “Hold” and a consensus price target of $29.33.
Tenaris SA (NYSE:TS) opened at 29.38 on Tuesday. Tenaris SA has a 52-week low of $18.53 and a 52-week high of $29.89. The stock’s 50 day moving average price is $27.44 and its 200 day moving average price is $27.05. The firm’s market capitalization is $17.34 billion.
Tenaris SA (NYSE:TS) last announced its earnings results on Wednesday, August 3rd. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.04. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.13 billion. Tenaris SA had a negative return on equity of 3.33% and a negative net margin of 7.40%. The firm’s revenue for the quarter was down 40.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.06 earnings per share. On average, analysts predict that Tenaris SA will post ($0.41) EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. bought a new position in Tenaris SA during the second quarter worth about $117,000. BOKF NA increased its position in Tenaris SA by 9,446.0% in the second quarter. BOKF NA now owns 4,773 shares of the company’s stock worth $138,000 after buying an additional 4,723 shares during the period. Independent Portfolio Consultants Inc. increased its position in Tenaris SA by 684.7% in the second quarter. Independent Portfolio Consultants Inc. now owns 5,650 shares of the company’s stock worth $163,000 after buying an additional 4,930 shares during the period. First Trust Advisors LP bought a new position in Tenaris SA during the second quarter worth about $203,000. Finally, Hsbc Holdings PLC bought a new position in Tenaris SA during the second quarter worth about $208,000. 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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