Tenaris SA (TS) Reaches New 12-Month High at $29.84
Shares of Tenaris SA (NYSE:TS) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $29.84 and last traded at $29.70, with a volume of 1,170,542 shares trading hands. The stock had previously closed at $29.22.
A number of analysts have recently weighed in on the stock. Credit Suisse Group AG lowered shares of Tenaris SA from a “neutral” rating to an “underperform” rating in a report on Monday, April 25th. Goldman Sachs Group Inc. downgraded shares of Tenaris SA from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 20th. Zacks Investment Research downgraded shares of Tenaris SA from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Raymond James Financial Inc. reissued a “hold” rating on shares of Tenaris SA in a research note on Thursday, June 23rd. Finally, Howard Weil downgraded shares of Tenaris SA from a “focus stock” rating to a “sector outperform” rating and increased their price target for the stock from $28.00 to $31.00 in a research note on Monday, May 2nd. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. Tenaris SA has an average rating of “Hold” and a consensus target price of $29.26.
The firm’s market capitalization is $17.58 billion. The firm’s 50-day moving average price is $27.70 and its 200 day moving average price is $25.57.
Tenaris SA (NYSE:TS) last released its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by $0.04. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was down 40.0% compared to the same quarter last year. On average, analysts expect that Tenaris SA will post $0.22 EPS for the current fiscal year.
A hedge fund recently raised its stake in Tenaris SA stock. I.G. Investment Management LTD. boosted its position in Tenaris SA (NYSE:TS) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 139,014 shares of the company’s stock after buying an additional 3,400 shares during the period. I.G. Investment Management LTD.’s holdings in Tenaris SA were worth $3,309,000 at the end of the most recent quarter.
Tenaris SA is a holding company, which is a supplier of steel pipe products and related services for energy industry and other industrial applications. The Company 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 used in drilling operations, and for other industrial applications with production processes.
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