Tenaris (NYSE:TS) Stock Rating Lowered by StockNews.com

Tenaris (NYSE:TS) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Saturday.

A number of other equities research analysts have also issued reports on the stock. Stifel Nicolaus cut their price objective on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a report on Friday, October 11th. Piper Sandler cut their target price 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 research 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $38.67.

Tenaris Trading Up 2.5 %

TS opened at $32.16 on Friday. The company’s 50 day moving average is $30.13 and its 200 day moving average is $31.83. The company has a market cap of $18.70 billion, a price-to-earnings ratio of 6.86 and a beta of 1.43. Tenaris has a 12-month low of $27.24 and a 12-month high of $40.72.

Tenaris (NYSE:TS) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.38). The company had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $170.13 million. Tenaris had a return on equity of 16.12% and a net margin of 20.41%. The business’s quarterly revenue was down 18.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.90 EPS. As a group, analysts predict that Tenaris will post 3.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp lifted its holdings in shares of Tenaris by 10.9% during the second quarter. Van ECK Associates Corp now owns 3,183,299 shares of the industrial products company’s stock worth $97,154,000 after purchasing an additional 313,185 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Tenaris by 46.2% in the 2nd quarter. Renaissance Technologies LLC now owns 2,592,044 shares of the industrial products company’s stock valued at $79,109,000 after acquiring an additional 819,500 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Tenaris by 3.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,782,729 shares of the industrial products company’s stock valued at $70,009,000 after acquiring an additional 56,935 shares during the last quarter. Kiltearn Partners LLP increased its stake in shares of Tenaris by 49.9% in the first quarter. Kiltearn Partners LLP now owns 743,959 shares of the industrial products company’s stock worth $29,379,000 after acquiring an additional 247,559 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in shares of Tenaris by 20,284.0% during the first quarter. Acadian Asset Management LLC now owns 550,979 shares of the industrial products company’s stock worth $21,623,000 after purchasing an additional 548,276 shares during the last quarter. Hedge funds and other institutional investors 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.