Brokers Set Expectations for Tenaris SA’s FY2019 Earnings (TS)

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Tenaris SA (NYSE:TS) – Equities research analysts at Jefferies Financial Group dropped their FY2019 earnings per share (EPS) estimates for shares of Tenaris in a research report issued on Tuesday, January 22nd, Zacks Investment Research reports. Jefferies Financial Group analyst A. Spence now expects that the industrial products company will earn $1.88 per share for the year, down from their prior estimate of $1.90.

Several other equities research analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Tenaris from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Tuesday, January 22nd. Citigroup upgraded shares of Tenaris from a “neutral” rating to a “buy” rating and set a $35.00 price objective on the stock in a report on Friday, January 18th. Barclays restated a “buy” rating and set a $44.00 price objective on shares of Tenaris in a report on Friday, January 18th. UBS Group dropped their price objective on shares of Tenaris from $40.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, December 7th. Finally, ValuEngine lowered shares of Tenaris from a “hold” rating to a “sell” rating in a report on Friday, November 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $39.27.

NYSE TS traded up $0.61 during trading hours on Wednesday, hitting $26.81. The company’s stock had a trading volume of 5,323,570 shares, compared to its average volume of 2,385,093. The firm has a market capitalization of $15.29 billion, a P/E ratio of 34.82, a P/E/G ratio of 0.46 and a beta of 0.95. Tenaris has a twelve month low of $20.45 and a twelve month high of $40.64.

A number of institutional investors have recently added to or reduced their stakes in TS. Raymond James & Associates bought a new position in Tenaris in the second quarter valued at $1,247,000. Bank of America Corp DE boosted its holdings in shares of Tenaris by 44.6% during the 2nd quarter. Bank of America Corp DE now owns 276,209 shares of the industrial products company’s stock worth $10,051,000 after buying an additional 85,168 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in shares of Tenaris by 50.2% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 7,208 shares of the industrial products company’s stock worth $262,000 after buying an additional 2,408 shares during the period. Northern Trust Corp boosted its holdings in shares of Tenaris by 4.2% during the 2nd quarter. Northern Trust Corp now owns 626,564 shares of the industrial products company’s stock worth $22,800,000 after buying an additional 25,080 shares during the period. Finally, Fox Run Management L.L.C. boosted its holdings in shares of Tenaris by 17.3% during the 3rd quarter. Fox Run Management L.L.C. now owns 15,637 shares of the industrial products company’s stock worth $524,000 after buying an additional 2,306 shares during the period.

Tenaris Company Profile

Tenaris SA 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 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, tubular and non-tubular accessories, and devices.

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Earnings History and Estimates for Tenaris (NYSE:TS)

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