Tenaris SA (NYSE:TS) gapped up prior to trading on Tuesday . The stock had previously closed at $32.35, but opened at $33.25. Tenaris shares last traded at $33.31, with a volume of 2993439 shares changing hands.
Several research firms recently issued reports on TS. Cowen lifted their price objective on shares of Tenaris from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday, May 8th. Barclays set a $46.00 price objective on shares of Tenaris and gave the company a “buy” rating in a research note on Sunday, May 6th. Credit Suisse Group lowered shares of Tenaris from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 11th. ValuEngine raised shares of Tenaris from a “hold” rating to a “buy” rating in a research report on Tuesday, May 1st. Finally, Capital One Financial raised shares of Tenaris from an “equal weight” rating to an “overweight” rating in a research report on Friday, April 27th. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Tenaris has an average rating of “Hold” and a consensus target price of $42.32.
The stock has a market capitalization of $19.54 billion, a price-to-earnings ratio of 43.95, a price-to-earnings-growth ratio of 0.64 and a beta of 0.61.
Tenaris (NYSE:TS) last released its earnings results on Wednesday, August 1st. The industrial products company reported $0.29 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.29. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.79 billion. Tenaris had a net margin of 10.21% and a return on equity of 5.74%. The business’s revenue was up 43.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 EPS. research analysts anticipate that Tenaris SA will post 1.42 EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in the business. Egerton Capital UK LLP bought a new position in shares of Tenaris during the 2nd quarter worth about $247,843,000. Millennium Management LLC increased its holdings in shares of Tenaris by 148.9% during the 1st quarter. Millennium Management LLC now owns 4,392,857 shares of the industrial products company’s stock worth $152,300,000 after purchasing an additional 2,628,095 shares during the period. Van ECK Associates Corp increased its holdings in shares of Tenaris by 2.8% during the 2nd quarter. Van ECK Associates Corp now owns 3,852,722 shares of the industrial products company’s stock worth $140,201,000 after purchasing an additional 105,340 shares during the period. Arosa Capital Management LP bought a new position in shares of Tenaris during the 1st quarter worth about $48,191,000. Finally, Ariel Investments LLC increased its holdings in shares of Tenaris by 6.9% during the 2nd quarter. Ariel Investments LLC now owns 878,750 shares of the industrial products company’s stock worth $31,978,000 after purchasing an additional 56,918 shares during the period. 14.78% of the stock is owned by hedge funds and other institutional investors.
About Tenaris (NYSE:TS)
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.
Further Reading: What kind of dividend yield to CEF’s pay?
Receive News & Ratings for Tenaris Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenaris and related companies with MarketBeat.com's FREE daily email newsletter.