Sep. 17, 2015, 2:41 PM
- Tenaris (TS +1.9%) is upgraded to Sector Outperform from Sector Perform with a $32 price target at Scotia Howard Weil, which sees TS as a notable exception to other oilfield services names lacking distinguishable, organic catalysts.
- The firm says TS screens fairly well on its 2016 EPS and EBITDA estimates and may be the only one in the group where next year's revenue outlook could prove conservative; it says its conviction level is high that TS will deliver a better sequential EBITDA margin in Q4, and that the margin improvement is not transitory - average EBITDA margins should be better in 2016 vs. 2015.
Sep. 11, 2015, 6:41 PM
- In a setback for U.S. steel producers, the U.S. Court of International Trade says the Commerce Department should reconsider its calculation of profit, which could change the level of duties imposed last year on imports of tubular steel pipes for the energy sector.
- The ruling is in agreement with South Korean steel producers who complained that the U.S. duties were too high.
- The Commerce Department and U.S. International Trade Commission last year backed a complaint by U.S.-based steel companies including U.S. Steel (NYSE:X).
- Other relevant tickers: AKS, NUE, TS, STLD
Aug. 31, 2015, 5:37 PM
Aug. 27, 2015, 5:39 PM
Aug. 26, 2015, 9:14 AM
Aug. 5, 2015, 6:04 PM
- Tenaris (NYSE:TS): Q2 EPS of $0.11 misses by $0.18.
- Revenue of $1.87B (-29.7% Y/Y) beats by $10M.
- Shares -0.08% AH.
Jun. 22, 2015, 2:38 PM
- Tenaris (TS +0.7%) is downgraded to Underperform from Neutral with a $26 price target, down from $32, at BofA Merrill, which sees downside risks that are not fully reflected in the share price.
- BofA believes downside earnings risk remains despite already low expectations, as a combination of slow demand and limited pricing power is likely to cause 2015-17 earnings to come in lower than expected.
- The firm says investors should be prepared for "substantial weakening" of results over the next two quarters.
Apr. 30, 2015, 11:33 PM
- Tenaris (NYSE:TS): Q1 EPS of $0.38 misses by $0.05.
- Revenue of $2.25B (-12.8% Y/Y) beats by $70M.
Feb. 18, 2015, 4:55 PM
- Tenaris (NYSE:TS): Q4 EPS of $0.33 beats by $0.03.
- Revenue of $2.68B (+0.4% Y/Y) beats by $60M.
Jan. 6, 2015, 10:37 AM
- Citigroup analyst Scott Gruber says now could be time for longer-term investors to bulk up on oil services stocks (NYSEARCA:OIH), taking the contrarian view that falling capital spending forecasts and looming bankruptcies by some E&P companies could portend that the industry’s shakeout is closer at hand.
- Meanwhile, Gruber says oil services stocks tend to stop falling as oil reaches "unsustainably low” levels, and investors appear to be through much of their selling since valuations have fallen so low.
- Oil services companies generally have been hit twice as hard as integrated oil majors during the past three months; related tickers include SLB, HAL, NOV, BHI, CAM, ESV, FTI, HP, TS, OII.
Nov. 5, 2014, 7:16 PM
- Tenaris (NYSE:TS): Q3 EPS of $0.54 misses by $0.05.
- Revenue of $2.42B in-line (flat Y/Y).
Aug. 1, 2014, 2:18 PM
- The International Swaps and Derivatives Association declared Argentina in default, a move which could trigger up to $1B on credit default swaps. Next up is an ISDA auction to settle outstanding CDS deals.
- Argentina bonds extended losses after the ISDA action, and the Global X Funds Argentina ETF (NYSEARCA:ARGT) is off 2.1% on the session.
- A selection of ADRs: Alto Palermo (APSA), Banco Macro (BMA -2.4%), BBVA Banco Frances (BFR -1.4%), Edenor (EDN +2.3%), Pampa Energia (PZE +0.1%), Telecom Argentina (TEO -0.6%), Tenaris (TS -0.1%), Ternium (TX -0.7%), YPF (YPF -0.9%).
Jul. 31, 2014, 2:48 PM
- Cash flow constraints at Petrobras (PBR -4.1%) has slowed output gains and hurt profit at Tenaris (TS -3.7%), CEO Paolo Rocca says.
- Brazil's big deepwater producer has been using equipment on hand instead of buying new supplies, Rocca said today in a conference call after Q2 earnings at the Brazilian oil equipment supplier fell short of estimates.
- PBR's cash crunch comes as it is investing ~$100M/day to expand output at its refineries and aging oil fields.
Jul. 30, 2014, 5:47 PM
- Tenaris (NYSE:TS): Q2 EPS of $0.69 misses by $0.01.
- Revenue of $2.66B (-6.0% Y/Y) in-line.
Jul. 14, 2014, 5:37 PM
Jun. 11, 2014, 2:19 PM
- Total (TOT -0.7%) reportedly is in talks to sell its indirect stake in Transportadora del Gas del Norte, Argentina’s second-largest gas pipeline operator.
- Proceeds from the sale would be used to boost oil and natural gas exploration in Argentina, according to Bloomberg.
- TOT's partners in Gasinvest, the holding company that owns 56% of TGN, include Tenaris-controlled (TS) Tecpetrol.
Tenaris SA engages in the manufacture and supply of steel pipe products. 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 operates through its Tubes segment, which engages in the... More
Sector: Basic Materials
Industry: Steel & Iron
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