Tenaris (NYSE:TS) Upgraded to “Sector Perform” at COKER & PALMER

COKER & PALMER upgraded shares of Tenaris (NYSE:TS) from a sector underperform rating to a sector perform rating in a research note released on Tuesday, Zacks.com reports.

A number of other analysts have also recently commented on the stock. Exane BNP Paribas raised shares of Tenaris from an underperform rating to a neutral rating in a research note on Tuesday, March 2nd. Zacks Investment Research upgraded Tenaris from a hold rating to a buy rating and set a $26.00 price objective for the company in a research note on Wednesday, March 10th. Cowen raised their target price on Tenaris from $22.00 to $27.00 and gave the company an outperform rating in a research report on Friday, February 26th. BNP Paribas upgraded Tenaris from an underperform rating to a neutral rating in a research report on Monday, March 8th. Finally, Piper Sandler upgraded Tenaris from a neutral rating to an overweight rating and raised their price objective for the company from $16.25 to $23.00 in a report on Thursday, February 25th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. Tenaris has a consensus rating of Hold and a consensus price target of $19.16.

Shares of TS opened at $22.65 on Tuesday. The company has a current ratio of 3.55, a quick ratio of 2.23 and a debt-to-equity ratio of 0.03. Tenaris has a 12 month low of $8.86 and a 12 month high of $23.81. The stock’s 50 day moving average is $21.70 and its two-hundred day moving average is $15.99. The firm has a market cap of $13.37 billion, a P/E ratio of -22.65 and a beta of 1.88.

Tenaris (NYSE:TS) last issued its quarterly earnings results on Wednesday, February 24th. The industrial products company reported $0.18 EPS for the quarter. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.07 billion. Tenaris had a negative net margin of 10.23% and a positive return on equity of 1.44%. Equities research analysts forecast that Tenaris will post -0.08 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in TS. Dimensional Fund Advisors LP lifted its holdings in Tenaris by 618.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 297,378 shares of the industrial products company’s stock valued at $4,743,000 after acquiring an additional 256,009 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Tenaris by 12.3% in the 3rd quarter. Van ECK Associates Corp now owns 2,290,682 shares of the industrial products company’s stock valued at $22,563,000 after purchasing an additional 250,412 shares during the last quarter. Morgan Stanley grew its holdings in shares of Tenaris by 25.9% during the 3rd quarter. Morgan Stanley now owns 1,045,182 shares of the industrial products company’s stock worth $10,295,000 after purchasing an additional 214,710 shares during the period. Aperio Group LLC grew its holdings in shares of Tenaris by 38.0% during the 4th quarter. Aperio Group LLC now owns 488,044 shares of the industrial products company’s stock worth $7,784,000 after purchasing an additional 134,305 shares during the period. Finally, State Street Corp acquired a new stake in shares of Tenaris during the 3rd quarter worth about $699,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

About Tenaris

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 and non-tubular accessories, and devices.

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Analyst Recommendations for Tenaris (NYSE:TS)

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