Tenaris (NYSE:TS) Raised to Buy at Wall Street Zen

Tenaris (NYSE:TS) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other analysts have also issued reports on TS. Barclays reduced their price target on shares of Tenaris from $48.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, August 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Tenaris in a research report on Tuesday, October 14th. BNP Paribas Exane reissued a “neutral” rating on shares of Tenaris in a research report on Friday, October 10th. BNP Paribas lowered shares of Tenaris from an “outperform” rating to a “hold” rating in a research report on Friday, October 10th. Finally, Sanford C. Bernstein initiated coverage on shares of Tenaris in a research report on Monday, July 21st. They issued an “outperform” rating for the company. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $41.80.

Tenaris Trading Up 0.2%

TS stock opened at $34.42 on Friday. Tenaris has a one year low of $30.06 and a one year high of $40.87. The firm has a market capitalization of $20.01 billion, a PE ratio of 9.35 and a beta of 1.33. The firm has a 50-day moving average of $35.54 and a two-hundred day moving average of $35.21.

Tenaris (NYSE:TS) last posted its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.11. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3 billion. Tenaris had a net margin of 17.02% and a return on equity of 11.71%. The firm’s revenue was down 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.59 earnings per share. On average, equities research analysts anticipate that Tenaris will post 3.14 earnings per share for the current year.

Hedge Funds Weigh In On Tenaris

A number of hedge funds have recently added to or reduced their stakes in TS. Farther Finance Advisors LLC increased its holdings in Tenaris by 93.2% in the first quarter. Farther Finance Advisors LLC now owns 1,660 shares of the industrial products company’s stock worth $66,000 after buying an additional 801 shares during the last quarter. Total Wealth Planning & Management Inc. acquired a new position in Tenaris during the first quarter valued at approximately $202,000. Rossby Financial LCC acquired a new position in Tenaris during the first quarter valued at approximately $209,000. Crossmark Global Holdings Inc. grew its holdings in Tenaris by 10.8% during the first quarter. Crossmark Global Holdings Inc. now owns 38,899 shares of the industrial products company’s stock valued at $1,521,000 after purchasing an additional 3,788 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Tenaris by 47.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 754,994 shares of the industrial products company’s stock valued at $29,528,000 after purchasing an additional 241,290 shares during the last quarter. Institutional investors and hedge funds own 10.45% of the company’s stock.

About Tenaris

Tenaris SA, together with its subsidiaries, 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 steel casings, tubing products, mechanical and structural pipes, line pipes, cold-drawn pipes, and premium joints and couplings; and coiled tubing products for oil and gas drilling and workovers, and subsea pipelines.