Several other research analysts also recently weighed in on the company. Goldman Sachs Group Inc. downgraded Tenaris SA from a buy rating to a neutral rating in a research note on Wednesday, July 20th. Berenberg Bank initiated coverage on Tenaris SA in a research note on Tuesday, October 11th. They issued a hold rating on the stock. Zacks Investment Research downgraded Tenaris SA from a buy rating to a hold rating in a research note on Tuesday, July 26th. Finally, Raymond James Financial Inc. reiterated a hold rating on shares of Tenaris SA in a research note on Thursday, June 23rd. Five analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $29.33.
Shares of Tenaris SA (NYSE:TS) opened at 29.21 on Tuesday. The stock’s market capitalization is $17.24 billion. The company’s 50 day moving average price is $27.54 and its 200 day moving average price is $27.23. Tenaris SA has a 12 month low of $18.53 and a 12 month high of $29.89.
Tenaris SA (NYSE:TS) last announced its earnings results on Wednesday, August 3rd. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.03 by $0.04. Tenaris SA had a negative net margin of 7.40% and a negative return on equity of 3.33%. The company earned $1.12 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the business posted $0.06 earnings per share. The company’s revenue for the quarter was down 40.0% compared to the same quarter last year. Equities analysts anticipate that Tenaris SA will post $0.14 earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of TS. Harding Loevner LP boosted its position in shares of Tenaris SA by 75.4% in the second quarter. Harding Loevner LP now owns 14,720,849 shares of the company’s stock valued at $424,565,000 after buying an additional 6,329,867 shares in the last quarter. Credit Suisse AG boosted its position in shares of Tenaris SA by 103.5% in the second quarter. Credit Suisse AG now owns 1,657,121 shares of the company’s stock valued at $47,792,000 after buying an additional 842,790 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in shares of Tenaris SA during the second quarter valued at about $22,908,000. Waddell & Reed Financial Inc. purchased a new position in shares of Tenaris SA during the second quarter valued at about $14,896,000. Finally, Passport Capital LLC purchased a new position in shares of Tenaris SA during the second quarter valued at about $10,815,000. 16.47% of the stock is owned by hedge funds and other institutional investors.
About Tenaris SA
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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