Tenaris (NYSE:TS) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Tenaris (NYSE:TS) from a hold rating to a strong sell rating in a report released on Friday morning, Zacks.com reports.

According to Zacks, “Tenaris Sa, a corporation organized in Luxembourg, is a leading manufacturer and supplier of seamless steel pipe products and associated services to the oil and gas, energy and other industries. Tenaris’s operating subsidiaries include eight established steel pipe manufacturers: AlgomaTubes, Confab, Dalmine, NKKTubes, Siat, Siderca, Tamsa and Tavsa. “

Several other equities analysts also recently commented on the stock. Barclays reiterated a buy rating and issued a $30.00 price objective on shares of Tenaris in a report on Tuesday, November 5th. Stifel Nicolaus decreased their price objective on shares of Tenaris from $35.00 to $33.00 and set a buy rating on the stock in a report on Friday, August 2nd. ValuEngine upgraded shares of Tenaris from a sell rating to a hold rating in a report on Wednesday, October 2nd. Wolfe Research upgraded shares of Tenaris from a peer perform rating to an outperform rating and set a $28.00 price objective on the stock in a report on Wednesday, August 21st. Finally, TheStreet downgraded shares of Tenaris from a b- rating to a c+ rating in a report on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of Hold and an average target price of $29.42.

Shares of NYSE:TS traded up $0.14 on Friday, hitting $21.89. The company had a trading volume of 3,952,914 shares, compared to its average volume of 2,957,856. Tenaris has a 1-year low of $19.90 and a 1-year high of $30.32. The stock has a market cap of $12.77 billion, a price-to-earnings ratio of 14.79, a P/E/G ratio of 1.78 and a beta of 1.18. The stock has a 50 day moving average price of $21.08 and a 200 day moving average price of $23.66. The company has a current ratio of 2.98, a quick ratio of 1.76 and a debt-to-equity ratio of 0.02.

Tenaris (NYSE:TS) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.13). Tenaris had a net margin of 10.66% and a return on equity of 6.75%. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the firm earned $0.42 earnings per share. Tenaris’s revenue for the quarter was down 8.0% on a year-over-year basis. Sell-side analysts anticipate that Tenaris will post 1.25 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Northwestern Mutual Investment Management Company LLC boosted its position in shares of Tenaris by 41.9% in the third quarter. Northwestern Mutual Investment Management Company LLC now owns 59,870 shares of the industrial products company’s stock valued at $1,268,000 after acquiring an additional 17,670 shares during the period. SG Americas Securities LLC boosted its position in shares of Tenaris by 8.6% in the third quarter. SG Americas Securities LLC now owns 250,231 shares of the industrial products company’s stock valued at $5,300,000 after acquiring an additional 19,740 shares during the period. Lindbrook Capital LLC boosted its position in shares of Tenaris by 26.6% in the third quarter. Lindbrook Capital LLC now owns 3,894 shares of the industrial products company’s stock valued at $82,000 after acquiring an additional 819 shares during the period. FNY Investment Advisers LLC boosted its position in shares of Tenaris by 451.7% in the third quarter. FNY Investment Advisers LLC now owns 80,000 shares of the industrial products company’s stock valued at $1,694,000 after acquiring an additional 65,500 shares during the period. Finally, SPX Equities Gestao de Recursos Ltda bought a new stake in shares of Tenaris in the third quarter valued at about $2,542,000. 14.04% of the stock is owned by institutional investors.

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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