Stifel Nicolaus Cuts Tenaris (NYSE:TS) Price Target to $36.00

Tenaris (NYSE:TS) had its price target trimmed by Stifel Nicolaus from $37.00 to $36.00 in a report issued on Friday, Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

A number of other equities research analysts also recently commented on the company. Piper Sandler decreased their target price on Tenaris from $43.00 to $40.00 and set an overweight rating for the company in a report on Monday, July 15th. StockNews.com downgraded shares of Tenaris from a buy rating to a hold rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $38.67.

Tenaris Price Performance

TS stock opened at $32.33 on Friday. The company has a market capitalization of $18.80 billion, a PE ratio of 6.89 and a beta of 1.43. The firm’s 50-day moving average is $29.45 and its 200 day moving average is $32.22. 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 data on Wednesday, July 31st. The industrial products company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.38). The company had revenue of $3.32 billion for 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 company’s revenue for the quarter was down 18.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.90 earnings per share. Sell-side analysts forecast that Tenaris will post 3.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Tenaris

A number of hedge funds have recently made changes to their positions in TS. Virtu Financial LLC acquired a new stake in shares of Tenaris in the fourth quarter valued at about $506,000. Goldman Sachs Group Inc. raised 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 acquiring an additional 291,118 shares during the last quarter. Wellington Management Group LLP lifted its stake in Tenaris by 14.8% in the 4th quarter. Wellington Management Group LLP now owns 1,006,755 shares of the industrial products company’s stock worth $34,995,000 after purchasing an additional 129,450 shares in the last quarter. Ballentine Partners LLC boosted its holdings in shares of Tenaris by 10.3% during the 1st quarter. Ballentine Partners LLC now owns 8,923 shares of the industrial products company’s stock worth $350,000 after purchasing an additional 834 shares during the last quarter. Finally, Janiczek Wealth Management LLC grew its position in shares of Tenaris by 14.8% in the first quarter. Janiczek Wealth Management LLC now owns 2,692 shares of the industrial products company’s stock valued at $106,000 after purchasing an additional 347 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.