Tenaris (NYSE:TS) Now Covered by Analysts at Sanford C. Bernstein

Stock analysts at Sanford C. Bernstein initiated coverage on shares of Tenaris (NYSE:TS - Get Free Report) in a research report issued on Monday, Marketbeat.com reports. The firm set an "outperform" rating on the industrial products company's stock.

A number of other equities research analysts have also issued reports on the stock. BNP Paribas initiated coverage on shares of Tenaris in a report on Tuesday, April 22nd. They set an "outperform" rating on the stock. Barclays set a $48.00 target price on Tenaris and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Wall Street Zen lowered Tenaris from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Stifel Nicolaus decreased their price objective on Tenaris from $43.00 to $41.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Finally, Morgan Stanley dropped their target price on Tenaris from $35.00 to $34.00 and set an "underweight" rating on the stock in a report on Friday, May 16th. Two analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $44.00.

Tenaris Trading Down 2.2%

Shares of NYSE TS traded down $0.86 during midday trading on Monday, reaching $37.99. The company's stock had a trading volume of 970,825 shares, compared to its average volume of 1,593,673. Tenaris has a one year low of $27.24 and a one year high of $40.87. The company has a market cap of $22.08 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 2.85 and a beta of 1.29. The company has a 50 day moving average price of $35.97 and a 200 day moving average price of $36.42.

Tenaris (NYSE:TS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.14. The company had revenue of $2.92 billion for the quarter, compared to analysts' expectations of $2.88 billion. Tenaris had a return on equity of 10.54% and a net margin of 15.05%. The firm's revenue was down 15.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.27 earnings per share. Research analysts anticipate that Tenaris will post 3.14 earnings per share for the current fiscal year.

Tenaris announced that its board has initiated a stock repurchase plan on Tuesday, May 27th that allows the company to repurchase $1.20 billion in shares. This repurchase authorization allows the industrial products company to reacquire up to 6.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its shares are undervalued.

Hedge Funds Weigh In On Tenaris

Hedge funds have recently bought and sold shares of the business. Brooklyn Investment Group raised its holdings in Tenaris by 169.5% in the 1st quarter. Brooklyn Investment Group now owns 717 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 451 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in Tenaris in the 2nd quarter valued at $28,000. Harbour Investments Inc. bought a new position in shares of Tenaris during the 1st quarter worth about $39,000. Headlands Technologies LLC acquired a new stake in shares of Tenaris during the 4th quarter valued at about $42,000. Finally, GAMMA Investing LLC boosted its position in shares of Tenaris by 52.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,636 shares of the industrial products company's stock valued at $61,000 after acquiring an additional 563 shares in the last quarter. 10.45% of the stock is owned by institutional investors and hedge funds.

Tenaris Company Profile

Tenaris SA, together with its subsidiaries, 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 steel casings, tubing products, mechanical and structural pipes, line pipes, cold-drawn pipes, and premium joints and couplings; and coiled tubing products for oil and gas drilling and workovers, and subsea pipelines.