Tenaris (NYSE:TS) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Tenaris from “hold” to “strong buy.” Other recent analyst actions were generally positive, and MarketBeat lists the stock’s consensus rating as “Moderate Buy” with an average price target of $63.84.
• Tenaris beat quarterly expectations, reporting EPS of $1.01 versus an $0.81 estimate and revenue of $3.10 billion versus a $3.03 billion estimate. Revenue rose 4.2% year over year.
• Shares opened at $61.21 and were up 1.6% in Tuesday trading; the stock’s 52-week range is $37.69 to $64.60.

Tenaris (NYSE:TS - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Tuesday, Zacks reports.

A number of other research firms also recently issued reports on TS. Weiss Ratings upgraded shares of Tenaris from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday. Bank of America boosted their target price on shares of Tenaris from $66.00 to $71.00 and gave the company a "buy" rating in a research note on Monday, October 5th. Barclays boosted their target price on shares of Tenaris from $80.00 to $88.00 and gave the company an "overweight" rating in a research note on Friday, November 6th. Kepler Capital Markets raised shares of Tenaris from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 6th. Finally, TD Cowen raised their price target on shares of Tenaris from $67.00 to $68.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Tenaris presently has an average rating of "Moderate Buy" and an average price target of $63.84.

Tenaris Trading Up 1.6%

TS stock opened at $61.21 on Tuesday. The stock has a market cap of $30.90 billion, a P/E ratio of 15.45, a P/E/G ratio of 1.41 and a beta of 0.89. The stock's fifty day simple moving average is $57.40 and its two-hundred day simple moving average is $56.58. Tenaris has a 1-year low of $37.69 and a 1-year high of $64.60.

Tenaris (NYSE:TS - Get Free Report) last announced its earnings results on Wednesday, November 4th. The industrial products company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.20. The firm had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.03 billion. Tenaris had a return on equity of 11.53% and a net margin of 16.24%. The business's revenue was up 4.2% compared to the same quarter last year. During the same period last year, the firm posted $0.85 EPS. As a group, analysts forecast that Tenaris will post 4.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TS. Polaris Financial Partners purchased a new stake in shares of Tenaris during the third quarter worth $26,000. Allworth Financial LP raised its stake in shares of Tenaris by 116.0% during the 2nd quarter. Allworth Financial LP now owns 661 shares of the industrial products company's stock valued at $37,000 after purchasing an additional 355 shares during the period. Ameritas Advisory Services LLC purchased a new stake in Tenaris during the 2nd quarter worth about $48,000. GAMMA Investing LLC lifted its holdings in Tenaris by 24.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,713 shares of the industrial products company's stock worth $151,000 after purchasing an additional 533 shares in the last quarter. Finally, Keybank National Association OH purchased a new stake in Tenaris during the 3rd quarter worth about $215,000. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

About Tenaris

Tenaris S.A. is a global manufacturer and supplier of steel pipe products and related services, with a primary focus on the energy industry. Its products include casing and tubing used in oil and gas wells, line pipe for transporting fluids, and other tubular products for industrial applications. The company also provides services such as pipe processing, engineering support, logistics, and assistance at drilling sites. Tenaris serves customers across a broad range of international markets, including the Americas, Europe, the Middle East, Africa, and Asia.

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