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

Tenaris S.A. (NYSE:TS) has received an average rating of “Hold” from the ten research firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $41.80.

TS has been the subject of a number of research analyst reports. Sanford C. Bernstein began coverage on shares of Tenaris in a research report on Monday, July 21st. They set an “outperform” rating for the company. Weiss Ratings restated a “hold (c)” rating on shares of Tenaris in a research report on Saturday, September 27th. Wall Street Zen lowered Tenaris from a “buy” rating to a “hold” rating in a research note on Sunday, July 13th. Barclays lowered their price target on Tenaris from $48.00 to $46.00 and set an “overweight” rating on the stock in a research note on Thursday, August 7th. Finally, Piper Sandler cut Tenaris from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $48.00 to $41.00 in a report on Wednesday, September 17th.

Tenaris Price Performance

NYSE TS opened at $35.60 on Friday. The company has a market cap of $20.70 billion, a price-to-earnings ratio of 9.67, a PEG ratio of 2.75 and a beta of 1.33. The stock’s fifty day moving average price is $35.67 and its 200 day moving average price is $35.47. Tenaris has a 1 year low of $30.06 and a 1 year high of $40.87.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.11. Tenaris had a return on equity of 11.71% and a net margin of 17.02%.The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3 billion. During the same period last year, the firm earned $0.59 EPS. The firm’s revenue for the quarter was down 7.1% compared to the same quarter last year. Research analysts expect that Tenaris will post 3.14 earnings per share for the current year.

Hedge Funds Weigh In On Tenaris

Hedge funds have recently bought and sold shares of the company. Corient Private Wealth LLC grew its position in Tenaris by 5.8% in the 2nd quarter. Corient Private Wealth LLC now owns 11,539 shares of the industrial products company’s stock valued at $432,000 after acquiring an additional 631 shares in the last quarter. Osaic Holdings Inc. boosted its stake in shares of Tenaris by 1,994.8% in the second quarter. Osaic Holdings Inc. now owns 36,722 shares of the industrial products company’s stock valued at $1,434,000 after purchasing an additional 34,969 shares during the period. Squarepoint Ops LLC grew its holdings in shares of Tenaris by 178.7% in the second quarter. Squarepoint Ops LLC now owns 17,092 shares of the industrial products company’s stock valued at $639,000 after purchasing an additional 10,959 shares in the last quarter. Headlands Technologies LLC increased its stake in Tenaris by 819.6% during the 2nd quarter. Headlands Technologies LLC now owns 4,984 shares of the industrial products company’s stock worth $186,000 after buying an additional 4,442 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in Tenaris by 6,836.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,896 shares of the industrial products company’s stock worth $221,000 after buying an additional 5,811 shares in 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.