Tenaris (NYSE:TS) Research Coverage Started at Sanford C. Bernstein

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Sanford C. Bernstein began coverage on shares of Tenaris (NYSE:TS) in a research note released on Monday morning, Benzinga reports. The firm issued an outperform rating on the industrial products company’s stock. The analysts noted that the move was a valuation call.

TS has been the topic of a number of other research reports. Morgan Stanley lowered Tenaris from an overweight rating to an equal weight rating in a report on Thursday, November 7th. Zacks Investment Research lowered Tenaris from a hold rating to a strong sell rating in a report on Friday, November 15th. ValuEngine raised Tenaris from a sell rating to a hold rating in a report on Friday, January 3rd. Finally, Barclays reaffirmed a buy rating and set a $30.00 price objective on shares of Tenaris in a report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. Tenaris currently has an average rating of Hold and a consensus price target of $29.85.

Tenaris stock opened at $22.50 on Monday. Tenaris has a 12 month low of $19.90 and a 12 month high of $30.32. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.98 and a quick ratio of 1.76. The business has a 50 day simple moving average of $22.39 and a 200-day simple moving average of $22.57. The stock has a market capitalization of $13.35 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 1.77 and a beta of 1.23.

Tenaris (NYSE:TS) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.18 earnings per share 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 business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the company earned $0.42 EPS. The company’s revenue was down 8.0% on a year-over-year basis. As a group, equities research analysts anticipate that Tenaris will post 1.28 EPS for the current year.

A number of institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its holdings in Tenaris by 65.3% in the second 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 purchasing an additional 2,860,516 shares during the last quarter. Balyasny Asset Management LLC grew its holdings in Tenaris by 836.8% in the second 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 Tenaris by 73.2% in the second 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 Tenaris by 15.1% in the second 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 Tenaris by 154.7% in the second 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. 14.11% of the stock is currently owned by institutional investors.

About Tenaris

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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