Tenaris’ (TS) Buy Rating Reaffirmed at BTIG Research

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Tenaris (NYSE:TS)‘s stock had its “buy” rating reissued by investment analysts at BTIG Research in a research note issued to investors on Tuesday, The Fly reports.

A number of other brokerages also recently issued reports on TS. Zacks Investment Research downgraded shares of Tenaris from a “hold” rating to a “strong sell” rating in a research report on Friday, November 15th. Barclays reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Tenaris in a research report on Tuesday, November 5th. Sanford C. Bernstein initiated coverage on shares of Tenaris in a research report on Monday. They issued an “outperform” rating for the company. They noted that the move was a valuation call. Morgan Stanley downgraded shares of Tenaris from an “overweight” rating to an “equal weight” rating in a research report on Thursday, November 7th. Finally, ValuEngine raised shares of Tenaris from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $29.85.

Shares of TS stock opened at $22.50 on Tuesday. Tenaris has a 52-week low of $19.90 and a 52-week high of $30.32. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.76 and a current ratio of 2.98. The company has a 50-day simple moving average of $22.39 and a two-hundred day simple moving average of $22.57. The company has a market capitalization of $13.35 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 1.77 and a beta of 1.23.

Tenaris (NYSE:TS) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.13). Tenaris had a return on equity of 6.75% and a net margin of 10.66%. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. On average, sell-side analysts forecast that Tenaris will post 1.28 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of TS. Price T Rowe Associates Inc. MD raised its position in shares of Tenaris by 65.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 7,241,802 shares of the industrial products company’s stock valued at $190,532,000 after buying an additional 2,860,516 shares in the last quarter. Balyasny Asset Management LLC grew its holdings in shares of Tenaris by 836.8% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,116,831 shares of the industrial products company’s stock valued at $29,384,000 after purchasing an additional 997,608 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Tenaris by 73.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 606,100 shares of the industrial products company’s stock valued at $15,946,000 after purchasing an additional 256,100 shares during the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of Tenaris by 15.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 415,314 shares of the industrial products company’s stock valued at $10,927,000 after purchasing an additional 54,473 shares during the last quarter. Finally, Holocene Advisors LP grew its holdings in shares of Tenaris by 154.7% during the 2nd quarter. Holocene Advisors LP now owns 279,579 shares of the industrial products company’s stock valued at $7,356,000 after purchasing an additional 169,820 shares during the last quarter. Institutional investors and hedge funds own 14.11% of the company’s stock.

Tenaris Company Profile

Tenaris SA, through its subsidiaries, produces and sells seamless and welded steel tubular products; and provides 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, perforating guns, tubular accessories, and non-tubular accessories and devices.

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