Tenaris (NYSE:TS) Coverage Initiated by Analysts at Sanford C. Bernstein

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

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

Tenaris Stock Performance

Shares of TS opened at $36.68 on Monday. The company has a 50 day moving average price of $35.78 and a 200-day moving average price of $36.39. Tenaris has a fifty-two week low of $27.24 and a fifty-two week high of $40.87. The stock has a market capitalization of $21.32 billion, a PE ratio of 11.18, a PEG ratio of 2.76 and a beta of 1.29.

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

Tenaris announced that its board has authorized a share buyback program on Tuesday, May 27th that allows the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization allows the industrial products company to reacquire up to 6.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Institutional Trading of Tenaris

Hedge funds and other institutional investors have recently made changes to their positions in the business. Brooklyn Investment Group grew its position in Tenaris by 169.5% during the first quarter. Brooklyn Investment Group now owns 717 shares of the industrial products company's stock valued at $28,000 after buying an additional 451 shares during the period. Harbour Investments Inc. acquired a new stake in Tenaris during the first quarter valued at $39,000. Headlands Technologies LLC acquired a new stake in Tenaris during the fourth quarter valued at $42,000. GAMMA Investing LLC grew its position in Tenaris by 52.5% during the second quarter. GAMMA Investing LLC now owns 1,636 shares of the industrial products company's stock valued at $61,000 after buying an additional 563 shares during the period. Finally, Covestor Ltd grew its position in Tenaris by 37.2% during the fourth quarter. Covestor Ltd now owns 1,729 shares of the industrial products company's stock valued at $65,000 after buying an additional 469 shares during the period. Institutional investors and hedge funds own 10.45% of the company's stock.

About Tenaris

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.

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