Tenaris SA (ADR) (TS) is Downgraded by Goldman to Neutral

Tenaris SA (ADR) (TS) was Downgraded by Goldman to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Goldman advised their investors in a research report released on Jul 20, 2016.

Many Wall Street Analysts have commented on Tenaris SA (ADR). Company shares were Downgraded by Scotia Howard Weil on May 2, 2016 to ” Sector Outperform”, Firm has raised the Price Target to $ 31 from a previous price target of $28 .Tenaris SA (ADR) was Downgraded by Credit Suisse to ” Underperform” on Apr 25, 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) closed down -0.35 points or -1.22% at $28.23 with 18,99,682 shares getting traded on Monday. Post opening the session at $28.39, the shares hit an intraday low of $28.005 and an intraday high of $28.39 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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