Traders Buy High Volume of Put Options on Tenaris (TS)
Tenaris SA (NYSE:TS) was the target of unusually large options trading on Thursday. Stock investors purchased 943 put options on the company. This is an increase of 1,094% compared to the average daily volume of 79 put options.
A number of research firms recently weighed in on TS. Cowen upped their price target on Tenaris from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Tuesday, May 8th. Barclays set a $46.00 price target on Tenaris and gave the stock a “buy” rating in a report on Sunday, May 6th. Credit Suisse Group cut Tenaris from an “outperform” rating to a “neutral” rating in a report on Wednesday, July 11th. ValuEngine cut Tenaris from a “buy” rating to a “hold” rating in a report on Wednesday, July 18th. Finally, Zacks Investment Research cut Tenaris from a “strong-buy” rating to a “hold” rating and set a $41.00 price target on the stock. in a report on Friday, June 29th. Ten analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $42.32.
A number of large investors have recently made changes to their positions in TS. Cubist Systematic Strategies LLC purchased a new position in shares of Tenaris during the 1st quarter worth $166,000. American National Insurance Co. TX purchased a new position in shares of Tenaris during the 1st quarter worth $205,000. First Republic Investment Management Inc. purchased a new position in shares of Tenaris during the 1st quarter worth $219,000. Delpha Capital Management LLC purchased a new position in shares of Tenaris during the 1st quarter worth $227,000. Finally, Greenleaf Trust purchased a new position in shares of Tenaris during the 2nd quarter worth $240,000. Hedge funds and other institutional investors own 13.97% of the company’s stock.
Tenaris (NYSE:TS) last announced its earnings results on Wednesday, August 1st. The industrial products company reported $0.29 EPS for the quarter, meeting analysts’ consensus estimates of $0.29. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.79 billion. Tenaris had a return on equity of 5.74% and a net margin of 10.21%. Tenaris’s quarterly revenue was up 43.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.06 EPS. analysts expect that Tenaris will post 1.44 earnings per share for the current year.
Tenaris Company Profile
Tenaris SA produces and sells seamless and welded steel tubular products and related services for the oil and gas industry, and other industrial applications. The company offers products for oil and gas drilling operations, such as casing and tubing products, premium connections, drill pipes, coiled tubing, hot-rolled and cold-drawn seamless tubes, tubular and non-tubular accessories, and devices.
Featured Story: Understanding Average Daily Trade Volume
Receive News & Ratings for Tenaris Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenaris and related companies with MarketBeat.com's FREE daily email newsletter.