Tenaris S.A. (TS) Stock Formed Bullish Wedge Up Pattern. What To Expect?

May 17, 2018 - By Jimmy Baldridge

Tenaris S.A. (NYSE:TS) Logo

The stock of Tenaris S.A. (TS) formed an up wedge with $42.30 target or 5.00 % above today’s $40.29 share price. The 7 months wedge indicates low risk for the $24.03 billion company. If the $42.30 price target is reached, the company will be worth $1.20B more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 2.01% or $0.795 during the last trading session, reaching $40.285. About 2.02M shares traded. Tenaris S.A. (NYSE:TS) has risen 6.53% since May 17, 2017 and is uptrending. It has underperformed by 5.02% the S&P500.

Analysts await Tenaris S.A. (NYSE:TS) to report earnings on August, 1. They expect $0.28 earnings per share, up 115.38 % or $0.15 from last year’s $0.13 per share. TS’s profit will be $167.02M for 35.97 P/E if the $0.28 EPS becomes a reality. After $0.40 actual earnings per share reported by Tenaris S.A. for the previous quarter, Wall Street now forecasts -30.00 % negative EPS growth.

Tenaris S.A. (NYSE:TS) Ratings Coverage

Among 9 analysts covering Tenaris SA (NYSE:TS), 6 have Buy rating, 0 Sell and 3 Hold. Therefore 67% are positive. Tenaris SA had 12 analyst reports since December 20, 2017 according to SRatingsIntel. The stock has “Buy” rating by Piper Jaffray on Thursday, February 22. The stock has “Hold” rating by Cowen & Co on Monday, February 26. Barclays Capital initiated the shares of TS in report on Wednesday, December 20 with “Buy” rating. The firm has “Hold” rating given on Tuesday, May 8 by Cowen & Co. The rating was maintained by Cowen & Co with “Hold” on Thursday, January 11. The firm earned “Buy” rating on Wednesday, April 11 by Citigroup. The rating was upgraded by Credit Suisse to “Hold” on Monday, January 15. Guggenheim maintained Tenaris S.A. (NYSE:TS) on Friday, March 2 with “Buy” rating. The company was upgraded on Friday, February 23 by Credit Suisse. On Thursday, March 22 the stock rating was maintained by Loop Capital with “Buy”.

More news for Tenaris S.A. (NYSE:TS) were recently published by: Globenewswire.com, which released: “Tenaris Announces 2018 First Quarter Results” on April 26, 2018. Streetinsider.com‘s article titled: “Viking Global’s 13F Shows New Stakes in Alibaba (BABA), BioMarin (BMRN) and Western Digital (WDC), Increase in …” and published on May 15, 2018 is yet another important article.

Tenaris S.A., through its subsidiaries, makes and distributes steel pipe products and other related services for the energy industry, and other industrial applications. The company has market cap of $24.03 billion. The firm offers products for gas and oil drilling operations, including casings and tubings, premium connections, drill pipes, coiled tubing, hot-rolled and cold-drawn seamless tubes, tubular accessories, non-tubular accessories, and devices. It has a 43.69 P/E ratio. It also provides offshore line pipe products, such as top tensioned and steel catenary risers, export lines and flowlines, bends, corrosion resistant alloys, coiled line pipes, umbilical tubings, and coated pipes; and seamless and welded tubes for onshore line pipe; various seamless steel tubes and pipes for refineries, petrochemical, and gas-processing plants; and tubular products for the power generation industry.

Tenaris S.A. (NYSE:TS) Ratings Chart

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