Tenaris (NYSE:TS) Upgraded to Buy at StockNews.com

Tenaris (NYSE:TS) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

A number of other equities research analysts have also recently commented on the stock. Piper Sandler dropped their price objective on shares of Tenaris from $43.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Stifel Nicolaus dropped their price objective on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $38.67.

Tenaris Trading Up 0.3 %

Shares of NYSE:TS opened at $31.73 on Friday. Tenaris has a twelve month low of $27.24 and a twelve month high of $40.72. The company’s 50 day moving average is $29.83 and its 200 day moving average is $32.00. The company has a market cap of $18.45 billion, a PE ratio of 5.29 and a beta of 1.43.

Tenaris (NYSE:TS) last issued its quarterly earnings data 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 firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $170.13 million. Tenaris had a return on equity of 16.12% and a net margin of 20.41%. Tenaris’s revenue for the quarter 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. Equities research analysts predict that Tenaris will post 3.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its holdings in Tenaris by 10.9% in the 2nd quarter. Van ECK Associates Corp now owns 3,183,299 shares of the industrial products company’s stock valued at $97,154,000 after purchasing an additional 313,185 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Tenaris by 46.2% during the 2nd 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 during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Tenaris by 3.3% during the 1st 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 acquiring an additional 56,935 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Tenaris by 33.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,155,173 shares of the industrial products company’s stock worth $40,154,000 after acquiring an additional 291,118 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of Tenaris by 14.8% during 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 acquiring an additional 129,450 shares during the period. Hedge funds and other institutional investors 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.