Tenaris SA (ADR) (TS) is Downgraded by Scotia Howard Weil to Sector Outperform, Raises Price Target to $ 31

Tenaris SA (ADR) (TS) was Downgraded by Scotia Howard Weil to ” Sector Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 31 from a previous price target of $28 . Earlier the firm had a rating of “Focus Stock ” on the company shares. Scotia Howard Weil advised their investors in a research report released on May 2, 2016.

Many Wall Street Analysts have commented on Tenaris SA (ADR). Tenaris SA (ADR) was Downgraded by Credit Suisse to ” Underperform” on Apr 25, 2016. Tenaris SA (ADR) was Upgraded by Citigroup to ” Neutral” on Apr 20, 2016. Tenaris SA (ADR) was Upgraded by Credit Suisse to ” Neutral” on Feb 26, 2016.

On the company’s financial health, Tenaris SA (ADR) reported $-0.08 EPS for the quarter, missing the analyst consensus estimate by $ -0.40 based on the information available during the earnings call on Feb 24, 2016. Analyst had a consensus of $0.32. The company had revenue of $1420.00 million for the quarter, compared to analysts expectations of $1537.43 million. The company’s revenue was down -47.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.33 EPS.

Tenaris SA (ADR) opened for trading at $26.99 and hit $27.44 on the upside on Wednesday, eventually ending the session at $27.37, with a gain of 1.86% or 0.5 points. The heightened volatility saw the trading volume jump to 20,54,513 shares. Company has a market cap of $16,156 M.

Tenaris S.A is a holding company which is engaged in the steel pipe manufacturing and distribution businesses. The Company produces and sells both seamless and welded steel tubular products and related services mainly for the oil and gas industry particularly oil country tubular goods used in drilling operations and for other industrial applications with production processes that consist in the transformation of steel into tubular products. It operates in geographical areas which include North America South America Europe Middle East Africa and Far East and Oceania. Its principal finished products are seamless and welded steel casing and tubing line pipe and other mechanical and structural steel pipes for different uses. It also manufactures sucker rods used in oil extraction activities industrial equipment of various specifications and applications including liquid and gas storage equipment and welded steel pipes for electric conduits used in the construction industry.

Tenaris SA (ADR)

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