Tenaris (NYSE:TS) had its target price lowered by investment analysts at Bank of America from $16.20 to $14.40 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. Bank of America‘s target price indicates a potential upside of 27.66% from the company’s current price.
A number of other equities research analysts have also recently issued reports on the company. Goldman Sachs Group upgraded Tenaris from a “sell” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Monday, June 22nd. UBS Group reiterated a “neutral” rating on shares of Tenaris in a research note on Tuesday, May 26th. Morgan Stanley cut their target price on Tenaris from $16.00 to $15.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Barclays cut Tenaris from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $15.00 to $10.00 in a research note on Monday, August 10th. Finally, Kepler Capital Markets reiterated a “hold” rating on shares of Tenaris in a research note on Friday, August 21st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $15.11.
Tenaris stock opened at $11.28 on Tuesday. The company has a market cap of $6.66 billion, a PE ratio of -14.84 and a beta of 1.44. The company has a fifty day moving average price of $11.74 and a two-hundred day moving average price of $12.92. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.30 and a quick ratio of 1.94. Tenaris has a 12 month low of $9.10 and a 12 month high of $23.54.
Tenaris (NYSE:TS) last released its quarterly earnings data on Wednesday, August 5th. The industrial products company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.14 billion. Tenaris had a positive return on equity of 2.60% and a negative net margin of 6.91%. Equities research analysts anticipate that Tenaris will post -0.32 earnings per share for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Schonfeld Strategic Advisors LLC bought a new stake in shares of Tenaris during the second quarter valued at about $664,000. PNC Financial Services Group Inc. raised its position in Tenaris by 131.1% in the second quarter. PNC Financial Services Group Inc. now owns 15,158 shares of the industrial products company’s stock worth $197,000 after acquiring an additional 8,599 shares in the last quarter. FMR LLC raised its position in Tenaris by 3,590.6% in the second quarter. FMR LLC now owns 460,546 shares of the industrial products company’s stock worth $5,955,000 after acquiring an additional 448,067 shares in the last quarter. Engineers Gate Manager LP bought a new stake in Tenaris in the second quarter worth about $161,000. Finally, Jane Street Group LLC raised its position in Tenaris by 23.0% in the second quarter. Jane Street Group LLC now owns 122,834 shares of the industrial products company’s stock worth $1,586,000 after acquiring an additional 23,003 shares in the last quarter. Institutional investors and hedge funds own 11.95% of the company’s stock.
Tenaris Company Profile
Tenaris SA, through its subsidiaries, produces and sells seamless and welded steel tubular products; and provides 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, perforating guns, tubular accessories, and non-tubular accessories and devices.
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