In a report released yesterday, Kevin Roger from Kepler Capital downgraded Tenaris SA (TS) to Hold, with a price target of EUR6.50. The company’s shares closed last Thursday at $12.17.
According to TipRanks.com, Roger is a 1-star analyst with an average return of -1.7% and a 38.1% success rate. Roger covers the Services sector, focusing on stocks such as Shelf Drilling, Borr Drilling, and Kvaerner ASA.
Tenaris SA has an analyst consensus of Moderate Buy, with a price target consensus of $13.93.
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Based on Tenaris SA’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.76 billion and GAAP net loss of $660 million. In comparison, last year the company earned revenue of $1.87 billion and had a net profit of $243 million.
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Tenaris SA manufactures and supplies steel pipe products. The company engages in the production and sale of both seamless and welded steel tubular products and related services mainly for the oil and gas industry. Its principal finished products are seamless and welded steel casing and tubing, line pipe and other mechanical and structural steel pipes for different uses. Tenaris was founded in 1909 and is headquartered in Luxembourg.
