ValuEngine Downgrades Tenaris (TS) to Sell

ValuEngine lowered shares of Tenaris (NYSE:TS) from a hold rating to a sell rating in a report issued on Wednesday, April 10th, ValuEngine reports.

Other research analysts have also issued research reports about the stock. Citigroup upgraded shares of Tenaris from a neutral rating to a buy rating and set a $35.00 price target on the stock in a report on Friday, January 18th. Barclays restated a buy rating and issued a $44.00 price target on shares of Tenaris in a report on Friday, January 18th. Zacks Investment Research raised shares of Tenaris from a hold rating to a buy rating and set a $27.00 price objective for the company in a research report on Tuesday, January 22nd. Finally, Goldman Sachs Group downgraded shares of Tenaris from a neutral rating to a sell rating and set a $28.80 price objective for the company. in a research report on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. Tenaris presently has a consensus rating of Hold and an average price target of $37.89.

NYSE TS traded up $0.50 during mid-day trading on Wednesday, hitting $27.35. The company’s stock had a trading volume of 1,846,924 shares, compared to its average volume of 2,241,818. Tenaris has a 52-week low of $20.45 and a 52-week high of $40.64. The firm has a market capitalization of $16.14 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 0.72 and a beta of 1.01.

Tenaris (NYSE:TS) last posted its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.03. Tenaris had a net margin of 11.44% and a return on equity of 7.45%. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $2 billion. During the same quarter last year, the firm posted $0.20 earnings per share. Tenaris’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tenaris will post 1.61 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of the business. BlackRock Inc. grew its position in shares of Tenaris by 546.0% during the third quarter. BlackRock Inc. now owns 9,555 shares of the industrial products company’s stock worth $320,000 after buying an additional 8,076 shares in the last quarter. Credit Suisse AG grew its position in shares of Tenaris by 173.0% during the third quarter. Credit Suisse AG now owns 86,817 shares of the industrial products company’s stock worth $2,910,000 after buying an additional 55,013 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Tenaris by 2,302.8% during the third quarter. Tower Research Capital LLC TRC now owns 7,809 shares of the industrial products company’s stock worth $262,000 after buying an additional 7,484 shares in the last quarter. Jefferies Group LLC grew its position in shares of Tenaris by 164.4% during the third quarter. Jefferies Group LLC now owns 21,574 shares of the industrial products company’s stock worth $723,000 after buying an additional 13,415 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new stake in shares of Tenaris during the third quarter worth approximately $478,000. 14.69% of the stock is owned by 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 accessories, and non-tubular accessories and devices.

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Analyst Recommendations for Tenaris (NYSE:TS)

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