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

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

TS has been the topic of several other research reports. Piper Sandler dropped their price objective on shares of Tenaris from $43.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Stifel Nicolaus cut their price objective on Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a report on Friday, October 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $38.67.

Tenaris Stock Up 2.5 %

TS opened at $32.16 on Friday. The firm has a market capitalization of $18.70 billion, a P/E ratio of 6.86 and a beta of 1.43. The stock has a fifty day moving average of $30.20 and a 200-day moving average of $31.72. Tenaris has a 12-month low of $27.24 and a 12-month high of $40.72.

Tenaris (NYSE:TS) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.38). Tenaris had a return on equity of 16.12% and a net margin of 20.41%. The business had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $170.13 million. During the same period in the prior year, the company posted $1.90 earnings per share. The firm’s revenue was down 18.5% on a year-over-year basis. On average, analysts expect that Tenaris will post 3.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC increased its holdings in shares of Tenaris by 36.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,420 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 377 shares during the last quarter. Evergreen Capital Management LLC raised its position in shares of Tenaris by 3.7% in the second quarter. Evergreen Capital Management LLC now owns 19,932 shares of the industrial products company’s stock valued at $608,000 after purchasing an additional 710 shares during the period. Signaturefd LLC raised its position in shares of Tenaris by 4.7% in the second quarter. Signaturefd LLC now owns 16,338 shares of the industrial products company’s stock valued at $499,000 after purchasing an additional 732 shares during the period. Commonwealth Equity Services LLC boosted its holdings in shares of Tenaris by 9.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 14,918 shares of the industrial products company’s stock worth $455,000 after buying an additional 1,271 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Tenaris by 4.9% in 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 buying an additional 1,359 shares during the last quarter. Institutional investors and hedge funds own 10.45% of the company’s stock.

Tenaris Company Profile

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.