Tenaris S.A. (NYSE:TS) Receives Consensus Rating of “Hold” from Brokerages

Shares of Tenaris S.A. (NYSE:TS) have received a consensus rating of “Hold” from the five research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $39.00.

TS has been the topic of a number of recent research reports. StockNews.com cut Tenaris from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Piper Sandler decreased their target price on shares of Tenaris from $43.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Stifel Nicolaus dropped their target price on shares of Tenaris from $42.00 to $37.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Morgan Stanley lowered shares of Tenaris from an “overweight” rating to an “underweight” rating and set a $40.00 price objective for the company. in a report on Thursday, April 18th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Raymond James & Associates boosted its holdings in Tenaris by 0.6% in the fourth quarter. Raymond James & Associates now owns 142,121 shares of the industrial products company’s stock worth $4,940,000 after purchasing an additional 911 shares during the last quarter. Ballentine Partners LLC lifted its holdings in shares of Tenaris by 8.0% during the 4th quarter. Ballentine Partners LLC now owns 8,089 shares of the industrial products company’s stock valued at $281,000 after buying an additional 600 shares during the period. Greenleaf Trust purchased a new position in shares of Tenaris in the 4th quarter worth $210,000. Signaturefd LLC grew its holdings in shares of Tenaris by 5.2% in the fourth quarter. Signaturefd LLC now owns 15,695 shares of the industrial products company’s stock worth $546,000 after acquiring an additional 782 shares during the period. Finally, Beck Bode LLC increased its position in Tenaris by 2.3% during the fourth quarter. Beck Bode LLC now owns 35,112 shares of the industrial products company’s stock valued at $1,220,000 after acquiring an additional 782 shares during the last quarter. 10.45% of the stock is owned by hedge funds and other institutional investors.

Tenaris Price Performance

Shares of Tenaris stock opened at $28.08 on Tuesday. Tenaris has a 1 year low of $27.24 and a 1 year high of $40.72. The company has a 50-day moving average of $30.77 and a 200 day moving average of $33.95. The firm has a market cap of $16.33 billion, a price-to-earnings ratio of 4.68 and a beta of 1.46.

Tenaris (NYSE:TS) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.38). Tenaris had a net margin of 20.41% and a return on equity of 16.12%. The business had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $170.13 million. During the same period in the prior year, the business posted $1.90 EPS. Tenaris’s revenue for the quarter was down 18.5% on a year-over-year basis. On average, equities analysts anticipate that Tenaris will post 3.52 EPS for the current year.

About Tenaris

Tenaris SA, together with its subsidiaries, produces and sells seamless and welded steel tubular products and related services for the oil and gas industry, and other industrial applications. The company offers steel casings, tubing products, mechanical and structural pipes, line pipes, cold-drawn pipes, and premium joints and couplings; and coiled tubing products for oil and gas drilling and workovers, and subsea pipelines.