Tenaris (NYSE:TS) Lowered to Hold at StockNews.com

Tenaris (NYSE:TS) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Other analysts have also issued reports about the stock. Stifel Nicolaus lowered their price objective on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a report on Friday, October 11th. 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $38.67.

Tenaris Stock Performance

NYSE TS opened at $32.16 on Friday. The stock has a market cap of $18.70 billion, a P/E ratio of 6.86 and a beta of 1.43. Tenaris has a fifty-two week low of $27.24 and a fifty-two week high of $40.72. The stock has a 50 day simple moving average of $30.20 and a two-hundred day simple moving average of $31.72.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.38). The business had revenue of $3.32 billion during 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 business’s revenue was down 18.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.90 EPS. Sell-side analysts predict that Tenaris will post 3.25 earnings per share for the current year.

Hedge Funds Weigh In On Tenaris

Several large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new position in Tenaris during the 2nd quarter valued at approximately $32,000. Headlands Technologies LLC grew its stake in shares of Tenaris by 1,486.0% in the first quarter. Headlands Technologies LLC now owns 1,586 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 1,486 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Tenaris by 79.0% during the second quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company’s stock valued at $110,000 after acquiring an additional 1,583 shares in the last quarter. Capstone Investment Advisors LLC purchased a new position in shares of Tenaris in the 1st quarter worth about $257,000. Finally, Envestnet Portfolio Solutions Inc. bought a new position in Tenaris in the 1st quarter worth about $293,000. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

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.