Tenaris SA (TS) Stock Price Up 2.8%
Shares of Tenaris SA (NYSE:TS) rose 2.8% during mid-day trading on Tuesday . The stock traded as high as $29.30 and last traded at $29.10, with a volume of 1,843,491 shares. The stock had previously closed at $28.30.
TS has been the topic of several recent analyst reports. Zacks Investment Research upgraded Tenaris SA from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Thursday, June 30th. Raymond James Financial Inc. restated a “hold” rating on shares of Tenaris SA in a report on Thursday, June 23rd. Citigroup Inc. upgraded Tenaris SA from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $19.00 to $28.00 in a report on Wednesday, April 20th. Credit Suisse Group AG downgraded Tenaris SA from a “neutral” rating to an “underperform” rating in a report on Monday, April 25th. Finally, Scotiabank downgraded Tenaris SA from a “focus list” rating to an “outperform” rating and boosted their price objective for the stock from $28.00 to $31.00 in a report on Monday, May 2nd. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $29.26.
The stock’s market capitalization is $17.25 billion. The company’s 50 day moving average is $27.70 and its 200 day moving average is $25.57.
Tenaris SA (NYSE:TS) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by $0.04. The company earned $1.12 billion during the quarter, compared to analyst estimates of $1.13 billion. The firm’s revenue was down 40.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.06 EPS. Equities analysts expect that Tenaris SA will post $0.22 earnings per share for the current year.
A hedge fund recently raised its stake in Tenaris SA stock. I.G. Investment Management LTD. increased its stake in shares of Tenaris SA (NYSE:TS) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 reporting period.
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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