Barclays restated their buy rating on shares of Tenaris (NYSE:TS) in a research note released on Tuesday morning. Barclays currently has a $39.00 price objective on the industrial products company’s stock.
Other research analysts have also recently issued research reports about the stock. Citigroup raised shares of Tenaris from a neutral rating to a buy rating and set a $35.00 target price for the company in a report on Friday, January 18th. Zacks Investment Research cut shares of Tenaris from a buy rating to a hold rating in a report on Saturday, November 3rd. UBS Group reduced their target price on shares of Tenaris from $40.00 to $26.00 and set a neutral rating for the company in a report on Friday, December 7th. Finally, ValuEngine cut shares of Tenaris from a hold rating to a sell rating in a report on Friday, November 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of Buy and an average target price of $39.18.
Get Tenaris alerts:NYSE TS opened at $26.69 on Tuesday. The firm has a market capitalization of $15.75 billion, a price-to-earnings ratio of 18.03, a P/E/G ratio of 0.50 and a beta of 0.95. Tenaris has a 12-month low of $20.45 and a 12-month high of $40.64.
Tenaris (NYSE:TS) last issued its earnings results on Wednesday, February 20th. The industrial products company reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.05). Tenaris had a return on equity of 7.47% and a net margin of 11.44%. The business had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same period last year, the business earned $0.14 EPS. The company’s revenue for the quarter was up 32.5% on a year-over-year basis. As a group, sell-side analysts expect that Tenaris will post 1.68 EPS for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Enlightenment Research LLC purchased a new position in Tenaris in the fourth quarter valued at $30,000. Macquarie Group Ltd. purchased a new position in Tenaris in the fourth quarter valued at $42,000. NumerixS Investment Technologies Inc purchased a new position in Tenaris in the fourth quarter valued at $45,000. Lindbrook Capital LLC purchased a new position in Tenaris in the fourth quarter valued at $72,000. Finally, Glenmede Trust Co. NA purchased a new position in Tenaris in the third quarter valued at $133,000.
About Tenaris
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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