Kepler Capital analyst Kevin Roger downgraded Tenaris SA (TS) to Hold on November 2 and set a price target of EUR5.50. The company’s shares closed last Tuesday at $10.32, close to its 52-week low of $8.86.
According to TipRanks.com, Roger is a 3-star analyst with an average return of 1.3% and a 42.9% success rate. Roger covers the Industrial Goods sector, focusing on stocks such as Shelf Drilling, Borr Drilling, and Kvaerner ASA.
Currently, the analyst consensus on Tenaris SA is a Moderate Buy with an average price target of $13.29.
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Based on Tenaris SA’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.24 billion and GAAP net loss of $47.96 million. In comparison, last year the company earned revenue of $1.92 billion and had a net profit of $241 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.
