Tenaris manufactures and supplies seamless steel pipe products for the global oil and gas industry, as well as other industrial applications. Co. operates an integrated worldwide network of steel pipe manufacturing, research, finishing, and service facilities with industrial operations in the Americas, Europe, Asia, and Africa. Co. produces pipes for boilers, heat exchangers, hydraulic cylinders, automotive, structural and other industrial applications and supplies welded steel pipes for oil and gas pipelines in the South American region. Its principal products include casing, tubing, line pipe, and mechanical and structural pipes. Co.'s organizes its business around one segment: Tubes.
  • TickerTS.
  • ISINLU0156801721
  • ExchangeBuenos Aires Stock Exchange
  • SectorIndustrial Metals & Mining
  • CountryLuxembourg

Analysts

Ten Square Games: Shark in the ocean of plankton; BUY @ TP: 116PLN (+23%)

Ten Square Games Shark in the ocean of plankton We believe that the ongoing life cycle of Fishing Clash will allow Ten Square Games to achieve record-high financial results in 2019. In our opinion, player data analytics, cost discipline and efficiency in acquiring users are the studio’s competitive advantages, and considering the option of potential distribution of Fishing Clash in China (contract with NetEase; possible timing in 2019) and this year’s plans for a soft launch of an Evergreen-class game, namely Mini Golf, (possible timing 2Q19/3Q19), we believe that after the drops in quotatio...

Tenaris – Proxinvest Corporate Governance Rating ® : E

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Preston Caldwell

Morningstar | Tenaris Has Strong Results Again in 4Q Owing to Higher Tube Volume

Continuing the trend of the past several quarters, Tenaris had a strong fourth quarter, with revenue increasing 11% sequentially and adjusted operating margin improving to 13.7% from 13.6% previously (after accounting for a one-time amortization charge). Our fair value estimate and no-moat rating are unchanged. We think that Tenaris is already near its long-term profitability plateau. After a steep share price decline since mid-2018, the market now agrees with our view, and the shares appear fairly valued. In the tube segment (about 95% of company revenue), revenue increased 10% sequentially ...

Preston Caldwell

Tenaris Has Strong Results Again in 4Q Owing to Higher Tube Volume

Continuing the trend of the past several quarters, Tenaris had a strong fourth quarter, with revenue increasing 11% sequentially and adjusted operating margin improving to 13.7% from 13.6% previously (after accounting for a one-time amortization charge). Our fair value estimate and no-moat rating are unchanged. We think that Tenaris is already near its long-term profitability plateau. After a steep share price decline since mid-2018, the market now agrees with our view, and the shares appear fai...

Thanks to a better fundamental star rating, TENARIS SA sees an upgrade to Neutral

The independent financial analyst theScreener just awarded an improved star rating to TENARIS SA (IT), active in the Steel industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 4 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date February 22, 2019, the closing price was EUR 12.04 and its expected value was estimated at EUR 10.89.

Ten Square Games: Shark in the ocean of plankton; BUY @ TP: 116PLN (+23%)

Ten Square Games Shark in the ocean of plankton We believe that the ongoing life cycle of Fishing Clash will allow Ten Square Games to achieve record-high financial results in 2019. In our opinion, player data analytics, cost discipline and efficiency in acquiring users are the studio’s competitive advantages, and considering the option of potential distribution of Fishing Clash in China (contract with NetEase; possible timing in 2019) and this year’s plans for a soft launch of an Evergreen-class game, namely Mini Golf, (possible timing 2Q19/3Q19), we believe that after the drops in quotatio...

Preston Caldwell

Morningstar | Tenaris Has Strong Results Again in 4Q Owing to Higher Tube Volume

Continuing the trend of the past several quarters, Tenaris had a strong fourth quarter, with revenue increasing 11% sequentially and adjusted operating margin improving to 13.7% from 13.6% previously (after accounting for a one-time amortization charge). Our fair value estimate and no-moat rating are unchanged. We think that Tenaris is already near its long-term profitability plateau. After a steep share price decline since mid-2018, the market now agrees with our view, and the shares appear fairly valued. In the tube segment (about 95% of company revenue), revenue increased 10% sequentially ...

Preston Caldwell

Tenaris Has Strong Results Again in 4Q Owing to Higher Tube Volume

Continuing the trend of the past several quarters, Tenaris had a strong fourth quarter, with revenue increasing 11% sequentially and adjusted operating margin improving to 13.7% from 13.6% previously (after accounting for a one-time amortization charge). Our fair value estimate and no-moat rating are unchanged. We think that Tenaris is already near its long-term profitability plateau. After a steep share price decline since mid-2018, the market now agrees with our view, and the shares appear fai...

Baptiste Lebacq

Tenaris : Vers une pause sur 2019

>Opinion Alléger maintenue OC ajusté à 12.3 € - Nous maintenons notre recommandation Alléger sur le titre. L’exercice 2019, en ce début d’année, semble marquer une pause après une croissance des ventes de près de 80 % depuis le point bas de 2016. Cette stabilisation top line offre peu de leviers du côté de la hausse de la marge d’EBITDA. Après ajustements de notre séquence de résultats notre OC ressort à 12.3 € et reste basé sur un multiple de VE/EBITDA 2019 de 9.9x ...

Baptiste Lebacq

Tenaris : Towards a pause in 2019

>Reduce recommendation maintained, target price adjusted to € 12.3 - We maintain our Reduce recommendation on the stock. FY 2019, at the start of the year, appears set to mark a pause after sales growth of almost 80% since the low point of 2016. This stabilisation of the top line offers few levers for growth in the EBITDA margin. After adjustments to our earnings estimates, our target price is € 12.3 and remains based on a 2019e EV/EBITDA of 9.9x (average of the last...

A director sold 275,000 shares at 251.015MXN and

A director at Tenaris S.A. sold 275,000 shares at 251.015MXN and the significance rating of the trade was 74/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of...

Alexandre Iatrides ...
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Benoit Valleaux
  • Jean Sassus
  • Johanna Jourdain
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Rémi Adam
  • Samantha Jeary
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/22/2019

The tragedy which struck the Brumadinho complex (state of Minas Gerais in Brazil) belonging to mining giant Vale has radically changed the fundamentals underpinning supply and demand in the iron ore market. Accordingly we are revising up our price scenario for 2019-2021 by 15% on average and are adopting a Neutral recommendation on Rio Tinto (vs Reduce) which has the greatest exposure. We are sticking with our Buy recommendation on ArcelorMittal. - ...

Alexandre Iatrides ...
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Benoit Valleaux
  • Jean Sassus
  • Johanna Jourdain
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Rémi Adam
  • Samantha Jeary
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 22/02/2019

La tragédie du complexe minier de Brumadinho (Etat du Minas Gerais au Brésil) appartenant au géant minier Vale change radicalement les fondamentaux offre/demande du marché du minerai de fer. Aussi, nous relevons en moyenne de 15% notre scénario de prix pour 2019/2021e et adoptons une opinion Neutre sur Rio Tinto (vs Alléger) qui y est le plus exposé. Nous maintenons notre Achat sur ArcelorMittal. - ...

Ahmed Ben Salem ...
  • Baptiste Lebacq
  • Jean Sassus
  • Martial Descoutures
  • Pierre Corby
  • Steven Gould
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/02/2018

...

Ahmed Ben Salem ...
  • Baptiste Lebacq
  • Jean Sassus
  • Martial Descoutures
  • Pierre Corby
  • Steven Gould
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 02/11/2018

...

Thanks to a better fundamental star rating, TENARIS SA sees an upgrade to Neutral

The independent financial analyst theScreener just awarded an improved star rating to TENARIS SA (IT), active in the Steel industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 4 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date February 22, 2019, the closing price was EUR 12.04 and its expected value was estimated at EUR 10.89.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Tenaris – Proxinvest Corporate Governance Rating ® : E

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Jérôme VINERIER

Short term view - TENARIS SA : The movement goes on.

The background trend is clearly bearish. The movement goes on. The next target is at €12.383, then €11.537. Passing €15.300 would question the continuation of the fall.

Jérôme VINERIER

Analyse court terme - TENARIS SA : Le mouvement se poursuit.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 12,383 €, puis 11,537 €. Le franchissement de 15,300 € remettrait en cause la suite de la baisse.

Jérôme VINERIER

Analyse court terme - TENARIS SA : Le mouvement se poursuit.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 12,383 €, puis 11,537 €. Le franchissement de 15,300 € remettrait en cause la suite de la baisse.

Jérôme VINERIER

Short term view - TENARIS SA : The movement goes on.

The background trend is clearly bearish. The movement goes on. The next target is at €12.383, then €11.537. Passing €15.300 would question the continuation of the fall.

Jérôme VINERIER

Medium term view - TENARIS SA : Falling prices.

The trend is uncertain. Prices are falling and they may accelerate to the downside. A new bearish trend is attempting to emerge.

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