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

A number of other equities analysts have also issued reports on TS. Sanford C. Bernstein initiated coverage on Tenaris in a research note on Monday. They set an “outperform” rating for the company. They noted that the move was a valuation call. Morgan Stanley downgraded Tenaris from an “overweight” rating to an “equal weight” rating in a research note on Thursday, November 7th. BTIG Research reissued a “buy” rating on shares of Tenaris in a research note on Tuesday. Zacks Investment Research lowered Tenaris from a “hold” rating to a “strong sell” rating in a report on Friday, November 15th. Finally, Barclays reaffirmed a “buy” rating and set a $30.00 target price on shares of Tenaris in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $29.85.

Shares of NYSE:TS traded down $0.56 during trading on Tuesday, reaching $22.53. The company had a trading volume of 44,328 shares, compared to its average volume of 1,675,916. The firm’s fifty day moving average is $22.35 and its 200 day moving average is $22.60. The firm has a market capitalization of $13.35 billion, a PE ratio of 15.21, a price-to-earnings-growth ratio of 1.77 and a beta of 1.23. Tenaris has a twelve month low of $19.90 and a twelve month high of $30.32. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.76 and a current ratio of 2.98.

Tenaris (NYSE:TS) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.18 EPS for the quarter, missing the Zacks’ 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 for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the business earned $0.42 EPS. Tenaris’s revenue was down 8.0% compared to the same quarter last year. Equities analysts predict that Tenaris will post 1.28 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in TS. Lindbrook Capital LLC grew its stake in Tenaris by 26.6% during the 3rd 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 in the last quarter. Royal Bank of Canada boosted its stake in shares of Tenaris by 94.1% during the 2nd quarter. Royal Bank of Canada now owns 4,922 shares of the industrial products company’s stock valued at $130,000 after buying an additional 2,386 shares during the period. Rehmann Capital Advisory Group grew its holdings in shares of Tenaris by 9.5% during the 2nd quarter. Rehmann Capital Advisory Group now owns 5,325 shares of the industrial products company’s stock valued at $140,000 after acquiring an additional 464 shares in the last quarter. First Trust Advisors LP purchased a new position in shares of Tenaris during the 1st quarter valued at $219,000. Finally, United Capital Financial Advisers LLC acquired a new position in shares of Tenaris in the second quarter worth $222,000. 14.11% of the stock is 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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