Tenaris (NYSE:TS) Lowered to Hold at StockNews.com

StockNews.com lowered shares of Tenaris (NYSE:TS) from a buy rating to a hold rating in a report published on Saturday.

Other research analysts also recently issued research reports about the stock. Stifel Nicolaus decreased their target price on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Piper Sandler cut their price target on shares of Tenaris from $43.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Tenaris presently has a consensus rating of “Hold” and a consensus price target of $38.67.

Tenaris Price Performance

Shares of NYSE TS opened at $32.37 on Friday. The company’s 50 day simple moving average is $30.38 and its 200 day simple moving average is $31.57. Tenaris has a fifty-two week low of $27.24 and a fifty-two week high of $40.72. The firm has a market capitalization of $18.82 billion, a P/E ratio of 6.90 and a beta of 1.43.

Tenaris (NYSE:TS) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.59 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $170.13 million. During the same quarter in the prior year, the company earned $1.90 earnings per share. The company’s quarterly revenue was down 18.5% on a year-over-year basis. Sell-side analysts expect that Tenaris will post 3.25 EPS for the current fiscal year.

Institutional Trading of Tenaris

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Tenaris by 4.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 29,258 shares of the industrial products company’s stock valued at $1,149,000 after purchasing an additional 1,359 shares during the last quarter. Commonwealth Equity Services LLC acquired a new position in shares of Tenaris during the 1st quarter valued at $536,000. BNP Paribas Financial Markets lifted its position in shares of Tenaris by 30.8% during the 1st quarter. BNP Paribas Financial Markets now owns 103,580 shares of the industrial products company’s stock valued at $4,068,000 after acquiring an additional 24,372 shares during the period. Capstone Investment Advisors LLC acquired a new position in shares of Tenaris during the 1st quarter valued at $257,000. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in Tenaris during the 1st quarter valued at $293,000. Institutional investors and hedge funds own 10.45% of the company’s stock.

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.