Tenaris (TS) PT Raised to $43.00

Tenaris (NYSE:TS) had its price objective lifted by Loop Capital from $39.00 to $43.00 in a report released on Thursday. The brokerage presently has a “buy” rating on the industrial products company’s stock. Loop Capital’s price target points to a potential upside of 28.47% from the stock’s previous close.

TS has been the subject of a number of other reports. Capital One Financial reiterated an “equal weight” rating on shares of Tenaris in a research report on Thursday, February 22nd. TheStreet upgraded shares of Tenaris from a “c” rating to a “b-” rating in a research report on Tuesday, December 12th. Barclays began coverage on shares of Tenaris in a research report on Wednesday, December 20th. They issued an “overweight” rating and a $39.00 price target for the company. Piper Jaffray Companies set a $40.00 price target on shares of Tenaris and gave the company a “buy” rating in a research report on Saturday, March 10th. Finally, Guggenheim reiterated a “buy” rating and issued a $46.00 price target on shares of Tenaris in a research report on Friday, March 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Tenaris presently has a consensus rating of “Buy” and an average price target of $38.75.

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Shares of Tenaris stock opened at $33.47 on Thursday. The stock has a market cap of $21,910.75, a P/E ratio of 35.99 and a beta of 0.72. Tenaris has a 1 year low of $25.91 and a 1 year high of $37.56.

Tenaris (NYSE:TS) last issued its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.06. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.49 billion. Tenaris had a net margin of 10.30% and a return on equity of 3.92%. equities research analysts forecast that Tenaris will post 1.11 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Harding Loevner LP raised its position in Tenaris by 308.3% during the third quarter. Harding Loevner LP now owns 59,606,642 shares of the industrial products company’s stock valued at $378,234,000 after purchasing an additional 45,007,915 shares in the last quarter. Van ECK Associates Corp raised its position in Tenaris by 9.1% during the third quarter. Van ECK Associates Corp now owns 3,608,913 shares of the industrial products company’s stock valued at $102,168,000 after purchasing an additional 300,807 shares in the last quarter. Luminus Management LLC raised its position in Tenaris by 30.2% during the fourth quarter. Luminus Management LLC now owns 3,562,689 shares of the industrial products company’s stock valued at $113,508,000 after purchasing an additional 826,285 shares in the last quarter. Mackenzie Financial Corp raised its position in Tenaris by 0.7% during the fourth quarter. Mackenzie Financial Corp now owns 2,179,188 shares of the industrial products company’s stock valued at $69,429,000 after purchasing an additional 14,455 shares in the last quarter. Finally, Westwood Holdings Group Inc. raised its position in Tenaris by 7.1% during the fourth quarter. Westwood Holdings Group Inc. now owns 2,052,814 shares of the industrial products company’s stock valued at $65,403,000 after purchasing an additional 136,000 shares in the last quarter. Institutional investors and hedge funds own 12.91% of the company’s stock.

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About Tenaris

Tenaris SA 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 products for oil and gas drilling operations, such as casing and tubing products, premium connections, drill pipes, coiled tubing, hot-rolled and cold-drawn seamless tubes, tubular and non-tubular accessories, and devices.

Analyst Recommendations for Tenaris (NYSE:TS)

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