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

Tenaris S.A. (NYSE:TS) has earned an average recommendation of “Hold” from the five research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $39.00.

TS has been the subject of a number of research reports. Stifel Nicolaus reduced their price objective on Tenaris from $42.00 to $37.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. StockNews.com downgraded Tenaris from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Finally, Piper Sandler reduced 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.

Tenaris Trading Up 1.5 %

Shares of NYSE TS opened at $29.69 on Friday. Tenaris has a 12-month low of $27.24 and a 12-month high of $40.72. The company has a market cap of $17.26 billion, a PE ratio of 4.95 and a beta of 1.46. The stock has a 50 day simple moving average of $29.87 and a 200-day simple moving average of $33.57.

Tenaris (NYSE:TS) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $0.59 earnings per share (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 the consensus estimate of $170.13 million. Tenaris had a net margin of 20.41% and a return on equity of 16.12%. The business’s quarterly revenue was down 18.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.90 EPS. Sell-side analysts forecast that Tenaris will post 3.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tenaris

A number of institutional investors have recently bought and sold shares of TS. Van ECK Associates Corp increased its stake in Tenaris by 10.9% during the 2nd quarter. Van ECK Associates Corp now owns 3,183,299 shares of the industrial products company’s stock worth $97,154,000 after acquiring an additional 313,185 shares during the period. Renaissance Technologies LLC raised its stake in Tenaris by 46.2% in the second quarter. Renaissance Technologies LLC now owns 2,592,044 shares of the industrial products company’s stock valued at $79,109,000 after purchasing an additional 819,500 shares in the last quarter. Balyasny Asset Management L.P. lifted its position in Tenaris by 91.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,576,096 shares of the industrial products company’s stock worth $89,545,000 after purchasing an additional 1,228,287 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Tenaris by 3.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,782,729 shares of the industrial products company’s stock worth $70,009,000 after buying an additional 56,935 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Tenaris by 33.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,155,173 shares of the industrial products company’s stock valued at $40,154,000 after buying an additional 291,118 shares during the period. 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.