Tenaris S.A. to Post Q1 2018 Earnings of $0.19 Per Share, Capital One Financial Corporation Forecasts (TS)
Tenaris S.A. (NYSE:TS) – Capital One Financial Corporation upped their Q1 2018 earnings estimates for shares of Tenaris in a research note issued on Monday. Capital One Financial Corporation analyst J. Gibney now anticipates that the industrial products company will earn $0.19 per share for the quarter, up from their prior forecast of $0.18. Capital One Financial Corporation also issued estimates for Tenaris’ Q3 2018 earnings at $0.17 EPS and Q4 2018 earnings at $0.23 EPS.
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Other analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Tenaris from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Berenberg Bank restated a “hold” rating and set a $30.00 price objective on shares of Tenaris in a research report on Monday, August 7th. Cowen and Company restated a “hold” rating and set a $30.00 price objective on shares of Tenaris in a research report on Tuesday, July 11th. Scotiabank set a $40.00 price objective on shares of Tenaris and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Finally, Simmons restated an “overweight” rating and set a $35.50 price objective (down previously from $39.00) on shares of Tenaris in a research report on Wednesday, June 21st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. Tenaris has an average rating of “Hold” and a consensus target price of $35.35.
Shares of Tenaris (NYSE TS) traded down 0.04% on Tuesday, reaching $28.31. 499,500 shares of the company’s stock were exchanged. The firm has a market capitalization of $16.71 billion, a P/E ratio of 50.55 and a beta of 0.64. The firm has a 50 day moving average of $27.86 and a 200 day moving average of $30.75. Tenaris has a one year low of $25.19 and a one year high of $37.21.
Institutional investors have recently made changes to their positions in the company. Marathon Trading Investment Management LLC acquired a new position in shares of Tenaris in the 1st quarter valued at $205,000. JPMorgan Chase & Co. increased its holdings in shares of Tenaris by 1,187.5% in the 1st quarter. JPMorgan Chase & Co. now owns 6,502 shares of the industrial products company’s stock valued at $222,000 after acquiring an additional 5,997 shares during the period. Paloma Partners Management Co acquired a new position in shares of Tenaris in the 1st quarter valued at $251,000. D.A. Davidson & CO. increased its holdings in shares of Tenaris by 15.0% in the 2nd quarter. D.A. Davidson & CO. now owns 7,742 shares of the industrial products company’s stock valued at $241,000 after acquiring an additional 1,011 shares during the period. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of Tenaris by 41.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 8,200 shares of the industrial products company’s stock valued at $280,000 after acquiring an additional 2,400 shares during the period. 15.97% of the stock is currently owned by institutional investors and hedge funds.
Tenaris Company Profile
Tenaris SA is a holding company, which is a steel producer with production facilities in Mexico, Argentina, Colombia, United States and Guatemala. The Company supplies round steel bars and flat steel products for its pipes business. It 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 (OCTG) used in drilling operations, and for other industrial applications with production processes that include in the transformation of steel into tubular products.
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