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TS $37

TS target price
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Tenaris S.A.
Type
Sociedad Anónima
Traded as BIT: TEN
NYSE: TS
BCBA: TS
BMV: TS
Industry Oilfield services
Founded 2001; 16 years ago (2001)
Headquarters Luxembourg City, Luxembourg
Key people
Paolo Rocca (Chairman and CEO)
Products Steel pipes for oil and gas, energy and automotive industries
Revenue Decrease US$ 4.3 billion (2016)
Profit Decrease US$ 59 million (2016)
Number of employees
19,399
Parent Techint
Website www.tenaris.com

Tenaris is a global manufacturer and supplier of steel pipes and related services, primarily for the energy industry with nearly 21,750 employees around the world. It is a majority-owned subsidiary company of the Techint Group, which has interests in steel, energy, engineering and construction and industrial equipment.

It is headquartered in Luxembourg and is also a supplier of welded steel pipes for gas pipelines in South America. With manufacturing facilities in Argentina, Brazil, Canada, China, Colombia, Italy, Japan, Mexico, Romania, and USA and a network of customer service centers in over 20 countries. Tenaris has an annual production capacity of 3.3 million tons of seamless, and 2.8 million tons of welded pipes, annual consolidated net sales in excess of US$12.1 billion (2008) and 23,500 employees worldwide. In 2007 Tenaris bought Hydril and later split the premium connections from pressure control side of the business. The pressure control business was sold to GE Oil and Gas in April 2008.

The company's CEO is Paolo Rocca; its CFO is Edgardo G. Carlos, its CIO is Carlos Pappier and its Planning Director is Alejandro Lammertyn.

On 17 May 2011, Tenaris agreed to pay the US Department of Justice US$8.9 million in the first ever deferred prosecution agreement with the Securities and Exchange Commission.

A settlement was reached after Tenaris voluntarily disclosed details of illicit payments made to officials of an Uzbek state-controlled oil firm which were not properly recorded in the company's financial statements.

According to the Department of Justice, Tenaris paid bribes through local agents to obtain competitor’s bid information, which it used to submit revised bids in order to secure tenders.

An official at the Department of Justice said: "The company's immediate self-reporting, thorough internal investigation, full cooperation with SEC staff, enhanced anti-corruption procedures and enhanced training made it an appropriate candidate for the Enforcement Division's first Deferred Prosecution Agreement."

On December 24, 2013, over 100 disgruntled ex-employees of Tenaris Tamsa in Veracruz stormed the facilities and were attacked with sticks, pipes and stones by supporters of the worker's union, "Sindicato Union y Progreso", or SNUP. These workers had been dismissed by the company in 2012 for their violence after attempting to elect a new union leader, Jose Carlos Guevara Moreno, "El Profe". Pascual Lagunes Ochoa, who as of April 2016 remains as the union leader of SNUP, and often attends and speaks at public events. The ex-employees are currently in a legal battle against the company, having been denied their severance. They have also requested that he be audited by Hacienda, the tax collection branch of the government.


Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q3 2022 2022-11-03 Future report Set alerts
Q2 2022 2022-08-03 0.00 0.00
Q1 2022 2022-04-27 0.85 0.85
Q4 2021 2022-02-18 0.63 0.63
Q3 2021 2021-11-09 0.56 0.56
Q2 2021 2021-08-09 0.50 0.50
Q1 2021 2021-04-30 0.18 0.18
Q4 2020 2021-02-24 0.00 0.00
Q3 2020 2020-11-04 0.00 0.00
Q2 2020 2020-08-05 -0.08 -0.08

Ratings

2016-06-23 Reiterated Rating Raymond James Hold
2016-06-23 Reiterated Rating Raymond James Financial Inc. Hold
2016-05-02 Downgrade Scotiabank Focus List to Outperform $28.00 to $31.00
2016-05-02 Downgrade Howard Weil Focus Stock to Sector Outperform $28.00 to $31.00
2016-04-25 Downgrade Credit Suisse Neutral to Underperform
2016-04-25 Downgrade Credit Suisse Group AG Neutral to Underperform
2016-04-20 Upgrade Citigroup Inc. Sell to Neutral $19.00 to $28.00
2016-04-19 Boost Price Target Morgan Stanley Underweight $25.00 to $34.00
2016-03-28 Boost Price Target Howard Weil $26.00 to $28.00
2016-02-26 Upgrade Credit Suisse Underperform to Neutral
2016-02-25 Downgrade Capital One Financial Corp. Overweight to Equal Weight
2016-02-23 Downgrade Morgan Stanley Overweight to Equal Weight $25.00 to $26.00
2016-02-11 Downgrade JPMorgan Chase & Co. Neutral to Underweight $27.00 to $21.00
2016-02-08 Upgrade Goldman Sachs Neutral to Buy
2016-02-08 Upgrade Goldman Sachs Group Inc. Neutral to Buy
2016-02-02 Upgrade Capital One Financial Corp. Equal Weight to Overweight
2016-01-20 Upgrade Macquarie Neutral to Outperform
2015-12-15 Reiterated Rating Scotiabank Focus Stock
2015-12-14 Upgrade Howard Weil Sector Outperform to Focus Stock
2015-12-01 Upgrade Guggenheim Neutral to Buy
2015-11-06 Downgrade Kepler Capital Markets Buy to Hold
2015-10-21 Downgrade BNP Paribas Neutral to Underperform
2015-10-20 Downgrade Citigroup Inc. Buy to Neutral
2015-10-07 Downgrade Credit Suisse Neutral to Underperform
2015-09-17 Upgrade Scotiabank Sector Perform to Outperform $32.00
2015-09-17 Upgrade Howard Weil Sector Perform to Sector Outperform $32.00
2015-09-14 Boost Price Target Goldman Sachs $28.60 to $28.80
2015-09-08 Upgrade Sanford C. Bernstein Market Perform to Outperform
2015-08-07 Reiterated Rating Cowen and Company Market Perform $29.00 to $27.00
2015-06-22 Downgrade Bank of America Neutral to Underperform $32.00 to $26.00
2015-06-22 Downgrade Bank of America Corp. Neutral to Underperform $32.00 to $26.00
2015-02-20 Downgrade Macquarie Outperform to Neutral
2015-02-20 Downgrade BNP Paribas Outperform to Neutral
2014-10-14 Initiated Coverage Evercore ISI Hold $41.00
2014-09-11 Upgrade Morgan Stanley Equal Weight to Overweight
2014-07-03 Upgrade Goldman Sachs Sell to Neutral
2014-06-06 Upgrade Guggenheim Neutral to Buy $47.00 to $55.00
2014-05-09 Downgrade Morgan Stanley Overweight to Equal Weight
2014-05-06 Downgrade Howard Weil Sector Outperform to Sector Perform $49.00 to $47.00
2014-05-05 Reiterated Rating Barclays Equal Weight $41.00
2014-02-24 Lower Price Target Barclays Equal Weight $49.00 to $45.00
2014-02-19 Downgrade Banca Akros Hold
2014-01-09 Upgrade Howard Weil Sector Perform to Outperform $53.00
2013-12-17 Boost Price Target Barclays Equal Weight $47.00 to $49.00
2013-11-08 Downgrade Natixis Neutral to Reduce
2013-10-31 Initiated Coverage Macquarie Neutral
2013-10-17 Initiated Coverage Citigroup Inc. Hold to Buy
2013-09-27 Downgrade Bank of America Buy to Neutral
2013-02-25 Reiterated Dahlman Rose Hold $45 to $43
2012-10-11 Downgrade Howard Weil Market Outperform to Market Perform
2012-02-27 Reiterated Dahlman Rose Buy $46 to $48
2010-11-18 Initiated Barclays Capital Overweight $56
2010-09-23 Initiated Howard Weil Market Outperform $48
2010-03-23 Downgrade UBS Buy to Neutral
2009-10-09 Initiated UBS Buy
2016-06-23 Reiterated Rating Raymond James Hold
2016-06-23 Reiterated Rating Raymond James Financial Inc. Hold
2016-05-02 Downgrade Scotiabank Focus List to Outperform $28.00 to $31.00
2016-05-02 Downgrade Howard Weil Focus Stock to Sector Outperform $28.00 to $31.00
2016-04-25 Downgrade Credit Suisse Neutral to Underperform

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks