Tenaris (TS) Rating Increased to Neutral at Macquarie

Tenaris (NYSE:TS) was upgraded by investment analysts at Macquarie from an “underperform” rating to a “neutral” rating in a research report issued on Friday, November 17th, MarketBeat reports.

A number of other research analysts also recently commented on the company. Loop Capital upped their price objective on Tenaris from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Cowen set a $28.00 price target on Tenaris and gave the stock a “hold” rating in a research note on Friday, October 6th. BidaskClub cut Tenaris from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Berenberg Bank reissued a “hold” rating and issued a $30.00 price target on shares of Tenaris in a research note on Monday, August 7th. Finally, Scotiabank set a $40.00 price target on Tenaris and gave the stock a “buy” rating in a research note on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. Tenaris currently has an average rating of “Hold” and a consensus price target of $35.39.

Tenaris (NYSE TS) opened at $29.71 on Friday. Tenaris has a 52-week low of $25.91 and a 52-week high of $37.21. The stock has a market capitalization of $17,510.00, a P/E ratio of 54.02 and a beta of 0.65.

Tenaris (NYSE:TS) last issued its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.09. Tenaris had a return on equity of 2.77% and a net margin of 8.81%. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the previous year, the business earned $0.03 EPS. The business’s quarterly revenue was up 32.0% on a year-over-year basis. research analysts predict that Tenaris will post 0.49 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in TS. JPMorgan Chase & Co. raised its position in Tenaris by 1,187.5% during the first quarter. JPMorgan Chase & Co. now owns 6,502 shares of the industrial products company’s stock valued at $222,000 after buying an additional 5,997 shares during the period. D.A. Davidson & CO. raised its position in Tenaris by 15.0% during the second quarter. D.A. Davidson & CO. now owns 7,742 shares of the industrial products company’s stock valued at $241,000 after buying an additional 1,011 shares during the period. FDx Advisors Inc. acquired a new position in Tenaris during the third quarter valued at $243,000. Paloma Partners Management Co acquired a new position in Tenaris during the first quarter valued at $251,000. Finally, Airain ltd acquired a new position in Tenaris during the second quarter valued at $264,000. 26.94% of the stock is owned by institutional investors and hedge funds.

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About Tenaris

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.

Analyst Recommendations for Tenaris (NYSE:TS)

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