Tenaris SA (TS) Upgraded at Zacks Investment Research
Tenaris SA (NYSE:TS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday.
According to Zacks, “Tenaris Sa, a corporation organized in Luxembourg, is a leading manufacturer and supplier of seamless steel pipe products and associated services to the oil and gas, energy and other industries. Tenaris’s operating subsidiaries include eight established steel pipe manufacturers: AlgomaTubes, Confab, Dalmine, NKKTubes, Siat, Siderca, Tamsa and Tavsa. “
Several other equities research analysts also recently commented on the company. Morgan Stanley raised Tenaris SA from an “equal weight” rating to an “overweight” rating in a report on Monday. Simmons raised Tenaris SA from a “neutral” rating to an “overweight” rating in a report on Tuesday, October 18th. Piper Jaffray Cos. raised Tenaris SA from a “neutral” rating to an “overweight” rating and set a $33.00 target price on the stock in a report on Tuesday, October 18th. Berenberg Bank began coverage on Tenaris SA in a report on Tuesday, October 11th. They issued a “hold” rating on the stock. Finally, Goldman Sachs Group Inc. downgraded Tenaris SA from a “buy” rating to a “neutral” rating in a report on Wednesday, July 20th. Two analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $29.86.
Shares of Tenaris SA (NYSE:TS) opened at 31.17 on Thursday. The stock’s 50 day moving average price is $29.09 and its 200 day moving average price is $27.73. The stock’s market capitalization is $18.40 billion. Tenaris SA has a 12 month low of $18.53 and a 12 month high of $31.98.
Tenaris SA (NYSE:TS) last released its earnings results on Thursday, November 3rd. The company reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.05. Tenaris SA had a negative return on equity of 0.21% and a negative net margin of 0.52%. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the company posted ($0.30) earnings per share. The company’s revenue for the quarter was down 32.8% compared to the same quarter last year. Analysts expect that Tenaris SA will post $0.04 EPS for the current year.
The company also recently disclosed a dividend, which will be paid on Wednesday, November 23rd. Investors of record on Tuesday, November 22nd will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, November 21st. Tenaris SA’s dividend payout ratio (DPR) is presently -2,250.00%.
A number of hedge funds have recently bought and sold shares of TS. Ameriprise Financial Inc. boosted its stake in Tenaris SA by 1.2% in the second quarter. Ameriprise Financial Inc. now owns 23,307 shares of the company’s stock worth $672,000 after buying an additional 281 shares during the period. Independent Portfolio Consultants Inc. boosted its stake in shares of Tenaris SA by 5.2% in the third quarter. Independent Portfolio Consultants Inc. now owns 5,945 shares of the company’s stock worth $169,000 after buying an additional 295 shares during the last quarter. Advisor Group Inc. boosted its stake in shares of Tenaris SA by 16.0% in the third quarter. Advisor Group Inc. now owns 4,789 shares of the company’s stock worth $136,000 after buying an additional 662 shares during the last quarter. Ngam Advisors L.P. boosted its stake in shares of Tenaris SA by 5.3% in the third quarter. Ngam Advisors L.P. now owns 15,083 shares of the company’s stock worth $428,000 after buying an additional 765 shares during the last quarter. Finally, I.G. Investment Management LTD. boosted its stake in shares of Tenaris SA by 0.6% in the second quarter. I.G. Investment Management LTD. now owns 140,214 shares of the company’s stock worth $4,044,000 after buying an additional 900 shares during the last quarter. Institutional investors own 16.57% 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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