Tenaris SA (TS) Sets New 12-Month High at $29.84
Shares of Tenaris SA (NYSE:TS) hit a new 52-week high on Thursday . The stock traded as high as $29.84 and last traded at $29.70, with a volume of 1,170,542 shares changing hands. The stock had previously closed at $29.22.
Several analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Tenaris SA from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research report on Thursday, June 30th. Raymond James Financial Inc. reissued a “hold” rating on shares of Tenaris SA in a research note on Thursday, June 23rd. Goldman Sachs Group Inc. cut shares of Tenaris SA from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 20th. Credit Suisse Group AG cut shares of Tenaris SA from a “neutral” rating to an “underperform” rating in a research note on Monday, April 25th. Finally, Scotiabank cut shares of Tenaris SA from a “focus list” rating to an “outperform” rating and raised their target price for the company from $28.00 to $31.00 in a research note 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 assigned a buy rating to the stock. Tenaris SA has a consensus rating of “Hold” and an average price target of $29.26.
The company has a 50-day moving average of $27.75 and a 200 day moving average of $25.66. The stock’s market capitalization is $17.18 billion.
Tenaris SA (NYSE:TS) last issued its earnings results on Wednesday, August 3rd. The company reported ($0.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.04. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the company earned $0.06 EPS. The business’s quarterly revenue was down 40.0% compared to the same quarter last year. On average, equities analysts predict that Tenaris SA will post $0.22 EPS for the current year.
A hedge fund recently raised its stake in Tenaris SA stock. I.G. Investment Management LTD. increased its stake in Tenaris SA (NYSE:TS) by 2.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 as of its most recent filing with the SEC.
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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