Tenaris (NYSE:TS) Coverage Initiated at Bernstein Bank

Equities research analysts at Bernstein Bank assumed coverage on shares of Tenaris (NYSE:TS) in a research report issued on Tuesday, Stock Target Advisor reports. The brokerage set an “outperform” rating on the industrial products company’s stock.

Several other equities analysts also recently commented on TS. BTIG Research reissued a “buy” rating on shares of Tenaris in a report on Tuesday. Sanford C. Bernstein began coverage on shares of Tenaris in a report on Monday. They issued an “outperform” rating on the stock. They noted that the move was a valuation call. Morgan Stanley downgraded shares of Tenaris from an “overweight” rating to an “equal weight” rating in a report on Thursday, November 7th. ValuEngine raised shares of Tenaris from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Finally, Zacks Investment Research downgraded shares of Tenaris from a “hold” rating to a “strong sell” rating in a report on Friday, November 15th. Two 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. The company presently has an average rating of “Hold” and a consensus price target of $29.85.

TS opened at $22.50 on Tuesday. The firm has a market cap of $13.35 billion, a P/E ratio of 15.20, a PEG ratio of 1.77 and a beta of 1.23. Tenaris has a 1-year low of $19.90 and a 1-year high of $30.32. The company has a 50 day simple moving average of $22.39 and a two-hundred day simple moving average of $22.57. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.98 and a quick ratio of 1.76.

Tenaris (NYSE:TS) last released its earnings results on Wednesday, October 30th. The industrial products company reported $0.18 EPS for the quarter, missing the 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 company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period last year, the firm posted $0.42 EPS. Tenaris’s quarterly revenue was down 8.0% compared to the same quarter last year. Equities analysts anticipate that Tenaris will post 1.28 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Investment Management Company LLC raised its stake in Tenaris by 41.9% during 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 purchasing an additional 17,670 shares in the last quarter. SG Americas Securities LLC raised its stake in Tenaris by 8.6% during 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 purchasing an additional 19,740 shares in the last quarter. Lindbrook Capital LLC raised its stake in Tenaris by 26.6% during the third quarter. Lindbrook Capital LLC now owns 3,894 shares of the industrial products company’s stock valued at $82,000 after purchasing an additional 819 shares in the last quarter. FNY Investment Advisers LLC raised its stake in Tenaris by 451.7% during 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 purchasing an additional 65,500 shares in the last quarter. Finally, SPX Equities Gestao de Recursos Ltda purchased a new stake in Tenaris during the third quarter valued at $2,542,000. 14.11% of the stock is currently owned by hedge funds and other 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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