Tenaris (TS) Stock Rating Lowered by TheStreet

Tenaris (NYSE:TS) was downgraded by analysts at TheStreet from a “b” rating to a “c+” rating in a report released on Wednesday.

Other analysts also recently issued reports about the company. ValuEngine upgraded Tenaris from a “hold” rating to a “buy” rating in a research report on Wednesday, June 27th. BTIG Research assumed coverage on Tenaris in a research report on Thursday, June 14th. They set a “buy” rating and a $50.00 target price for the company. Barclays set a $46.00 target price on Tenaris and gave the stock a “buy” rating in a research report on Sunday, May 6th. Piper Jaffray Companies set a $44.00 target price on Tenaris and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Finally, Guggenheim reiterated a “buy” rating and set a $48.00 target price on shares of Tenaris in a research report on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. Tenaris currently has an average rating of “Hold” and a consensus target price of $42.32.

Shares of TS opened at $33.15 on Wednesday. The firm has a market capitalization of $20.35 billion, a P/E ratio of 43.05, a P/E/G ratio of 0.67 and a beta of 0.61. Tenaris has a 52-week low of $25.91 and a 52-week high of $40.64.

Tenaris (NYSE:TS) last issued its quarterly earnings results on Wednesday, August 1st. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.29. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.79 billion. Tenaris had a return on equity of 5.74% and a net margin of 10.21%. Tenaris’s revenue was up 43.9% on a year-over-year basis. During the same period last year, the company earned $0.06 earnings per share. analysts anticipate that Tenaris will post 1.42 EPS for the current year.

Large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in shares of Tenaris by 13.4% during the first quarter. Royal Bank of Canada now owns 30,755 shares of the industrial products company’s stock valued at $1,067,000 after buying an additional 3,624 shares during the period. Quantbot Technologies LP purchased a new position in shares of Tenaris during the first quarter valued at $683,000. Delpha Capital Management LLC purchased a new position in shares of Tenaris during the first quarter valued at $227,000. HAP Trading LLC increased its stake in shares of Tenaris by 133.3% during the first quarter. HAP Trading LLC now owns 29,475 shares of the industrial products company’s stock valued at $1,022,000 after buying an additional 16,841 shares during the period. Finally, Commerzbank Aktiengesellschaft FI increased its stake in shares of Tenaris by 145.9% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 116,304 shares of the industrial products company’s stock valued at $4,032,000 after buying an additional 69,000 shares during the period. Institutional investors and hedge funds own 13.58% of the company’s stock.

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.

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Analyst Recommendations for Tenaris (NYSE:TS)

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