Tenaris SA (TS) Stock Price Up 2.8%
Tenaris SA (NYSE:TS)’s share price rose 2.8% on Tuesday . The company 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.
Several brokerages have commented on TS. Citigroup Inc. raised shares of Tenaris SA from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $19.00 to $28.00 in a research report on Wednesday, April 20th. Credit Suisse Group AG cut shares of Tenaris SA from a “neutral” rating to an “underperform” rating in a research report on Monday, April 25th. Zacks Investment Research raised shares of Tenaris SA from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research report on Wednesday, July 20th. Morgan Stanley upped their target price on shares of Tenaris SA from $25.00 to $34.00 and gave the company an “underweight” rating in a report on Tuesday, April 19th. Finally, Goldman Sachs Group Inc. cut shares of Tenaris SA from a “buy” rating to a “neutral” rating in a report on Wednesday, July 20th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $29.26.
The company’s market cap is $17.16 billion. The firm’s 50-day moving average is $27.57 and its 200-day moving average is $25.48.
Tenaris SA (NYSE:TS) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by $0.04. During the same period in the prior year, the company earned $0.06 EPS. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Tenaris SA’s revenue was down 40.0% on a year-over-year basis. Equities analysts anticipate that Tenaris SA will post $0.21 earnings per share for the current year.
A hedge fund recently raised its stake in Tenaris SA stock. I.G. Investment Management LTD. boosted its stake in Tenaris SA (NYSE:TS) by 2.5% during the fourth quarter, according to its most recent 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 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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