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

Shares of Tenaris S.A. (NYSE:TS) have earned a consensus recommendation of “Hold” from the five ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $39.00.

A number of research firms have issued reports on TS. StockNews.com downgraded Tenaris from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Piper Sandler decreased their target price on Tenaris from $43.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Finally, Stifel Nicolaus decreased their target price on Tenaris from $42.00 to $37.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TS. Balyasny Asset Management L.P. lifted its stake in shares of Tenaris by 91.1% in 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 acquiring an additional 1,228,287 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Tenaris by 46.2% in the second quarter. Renaissance Technologies LLC now owns 2,592,044 shares of the industrial products company’s stock worth $79,109,000 after acquiring an additional 819,500 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Tenaris by 20,284.0% in the first quarter. Acadian Asset Management LLC now owns 550,979 shares of the industrial products company’s stock worth $21,623,000 after acquiring an additional 548,276 shares in the last quarter. Kiltearn Partners LLP acquired a new position in shares of Tenaris in the fourth quarter worth about $17,255,000. Finally, SIR Capital Management L.P. acquired a new stake in Tenaris during the second quarter valued at approximately $9,680,000. Institutional investors and hedge funds own 10.45% of the company’s stock.

Tenaris Trading Up 4.3 %

TS stock opened at $30.66 on Wednesday. The stock has a 50-day moving average price of $29.24 and a two-hundred day moving average price of $32.87. Tenaris has a 12-month low of $27.24 and a 12-month high of $40.72. The company has a market cap of $17.82 billion, a PE ratio of 5.11 and a beta of 1.43.

Tenaris (NYSE:TS) last posted its quarterly 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). Tenaris had a net margin of 20.41% and a return on equity of 16.12%. The firm had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $170.13 million. During the same period last year, the firm posted $1.90 EPS. Tenaris’s revenue was down 18.5% on a year-over-year basis. Equities analysts forecast that Tenaris will post 3.3 EPS for the current fiscal year.

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.