Tenaris SA (TS) Upgraded at Morgan Stanley
Tenaris SA (NYSE:TS) was upgraded by stock analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report issued on Monday.
A number of other brokerages have also commented on TS. Zacks Investment Research lowered shares of Tenaris SA from a “hold” rating to a “sell” rating in a research note on Wednesday, October 12th. Berenberg Bank initiated coverage on shares of Tenaris SA in a research note on Tuesday, October 11th. They issued a “hold” rating on the stock. Piper Jaffray Cos. upgraded shares of Tenaris SA from a “neutral” rating to an “overweight” rating and set a $33.00 price target on the stock in a research note on Tuesday, October 18th. Goldman Sachs Group Inc. lowered shares of Tenaris SA from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 20th. Finally, Simmons upgraded shares of Tenaris SA from a “neutral” rating to an “overweight” rating in a research report on Tuesday, October 18th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $29.86.
Shares of Tenaris SA (NYSE:TS) opened at 30.91 on Monday. The firm’s market cap is $18.25 billion. Tenaris SA has a one year low of $18.53 and a one year high of $31.49. The company has a 50 day moving average of $28.59 and a 200-day moving average of $27.63.
Tenaris SA (NYSE:TS) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.05. Tenaris SA had a negative net margin of 0.52% and a negative return on equity of 0.21%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the business earned ($0.30) EPS. Tenaris SA’s quarterly revenue was down 32.8% on a year-over-year basis. On average, analysts expect that Tenaris SA will post $0.03 EPS for the current year.
The company also recently declared a dividend, which will be paid on Tuesday, November 22nd. Stockholders of record on Tuesday, November 22nd will be issued a dividend of $0.26 per share. The ex-dividend date is Monday, November 21st. Tenaris SA’s dividend payout ratio (DPR) is presently -2,250.00%.
Several hedge funds have recently modified their holdings of TS. Harding Loevner LP increased its stake in shares of Tenaris SA by 75.4% in the second quarter. Harding Loevner LP now owns 14,720,849 shares of the company’s stock worth $424,565,000 after buying an additional 6,329,867 shares during the period. Credit Suisse AG increased its stake in shares of Tenaris SA by 103.5% in the second quarter. Credit Suisse AG now owns 1,657,121 shares of the company’s stock worth $47,792,000 after buying an additional 842,790 shares during the period. Emerald Acquisition Ltd. purchased a new stake in shares of Tenaris SA during the second quarter worth $22,908,000. Waddell & Reed Financial Inc. purchased a new stake in shares of Tenaris SA during the second quarter worth $14,896,000. Finally, Neuberger Berman Group LLC increased its stake in shares of Tenaris SA by 1,753.6% in the third quarter. Neuberger Berman Group LLC now owns 508,041 shares of the company’s stock worth $14,428,000 after buying an additional 480,633 shares during the period. 16.57% of the stock is owned by institutional investors.
About Tenaris SA
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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