Tenaris (NYSE:TS) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Tenaris S.A. (NYSE:TS)’s stock price passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $57.85 and traded as high as $58.74. Tenaris shares last traded at $58.4390, with a volume of 1,948,884 shares trading hands.

Wall Street Analyst Weigh In

TS has been the topic of a number of research reports. Wall Street Zen cut Tenaris from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Bank of America increased their price target on Tenaris from $66.00 to $71.00 and gave the company a “buy” rating in a research report on Monday. Morgan Stanley lowered their target price on shares of Tenaris from $65.00 to $60.00 and set an “equal weight” rating for the company in a research note on Thursday, August 20th. Zacks Research downgraded Tenaris from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Finally, Barclays dropped their price objective on Tenaris from $82.00 to $80.00 and set an “overweight” rating on the stock in a report on Monday, August 10th. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Tenaris has an average rating of “Hold” and an average price target of $63.67.

Tenaris Stock Performance

The company has a market capitalization of $29.78 billion, a price-to-earnings ratio of 14.86, a PEG ratio of 2.32 and a beta of 0.89. The business has a 50-day simple moving average of $55.39 and a two-hundred day simple moving average of $57.86.

Tenaris (NYSE:TS) last posted its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.16. The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.93 billion. Tenaris had a net margin of 15.88% and a return on equity of 11.14%. Tenaris’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period last year, the firm posted $0.50 EPS. Research analysts predict that Tenaris S.A. will post 3.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TS. Renaissance Technologies LLC grew its holdings in Tenaris by 7.9% during the first quarter. Renaissance Technologies LLC now owns 3,199,744 shares of the industrial products company’s stock worth $186,161,000 after acquiring an additional 235,400 shares during the period. Wellington Management Group LLP increased its stake in Tenaris by 2.2% in the 2nd quarter. Wellington Management Group LLP now owns 2,458,033 shares of the industrial products company’s stock valued at $136,396,000 after purchasing an additional 52,999 shares in the last quarter. Kiltearn Partners LLP purchased a new position in Tenaris in the 2nd quarter valued at approximately $9,642,000. Quantinno Capital Management LP raised its holdings in Tenaris by 20.9% during the first quarter. Quantinno Capital Management LP now owns 146,347 shares of the industrial products company’s stock worth $8,514,000 after purchasing an additional 25,271 shares during the last quarter. Finally, Corigliano Investment Advisers LLC purchased a new stake in Tenaris during the fourth quarter worth $6,064,000. 10.45% of the stock is currently owned by institutional investors and hedge funds.

About Tenaris

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services. The company produces seamless and welded steel tubes used in oil and gas exploration and production, including casing, tubing and line pipe, as well as products for petrochemical, power generation, construction, automotive and other industrial applications.

In addition to manufacturing, Tenaris provides engineering, supply-chain management, pipe processing, logistics and field services designed to support customers throughout the life cycle of tubular products.