Tenaris S.A. (NYSE:TS) Receives Average Rating of “Hold” from Brokerages

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

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

Tenaris Stock Performance

Shares of TS opened at $28.56 on Friday. The firm has a market cap of $16.60 billion, a P/E ratio of 4.76 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 business has a 50-day moving average of $29.73 and a 200 day moving average of $33.46.

Tenaris (NYSE:TS) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $0.59 earnings per share for the quarter, missing the consensus estimate 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%. Tenaris’s revenue for the quarter was down 18.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.90 EPS. As a group, research analysts predict that Tenaris will post 3.3 earnings per share for the current fiscal year.

Institutional Trading of Tenaris

Several institutional investors and hedge funds have recently modified their holdings of the business. Janiczek Wealth Management LLC raised its position in shares of Tenaris by 14.8% during the 1st quarter. Janiczek Wealth Management LLC now owns 2,692 shares of the industrial products company’s stock valued at $106,000 after buying an additional 347 shares in the last quarter. Parallel Advisors LLC lifted its stake in Tenaris by 20.3% during the fourth quarter. Parallel Advisors LLC now owns 3,908 shares of the industrial products company’s stock worth $136,000 after purchasing an additional 660 shares during the last quarter. Evergreen Capital Management LLC lifted its stake in Tenaris by 3.7% during the second quarter. Evergreen Capital Management LLC now owns 19,932 shares of the industrial products company’s stock worth $608,000 after purchasing an additional 710 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Tenaris by 4.7% in the 2nd quarter. Signaturefd LLC now owns 16,338 shares of the industrial products company’s stock worth $499,000 after purchasing an additional 732 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its position in shares of Tenaris by 8.2% during the 4th quarter. Quadrant Capital Group LLC now owns 10,595 shares of the industrial products company’s stock valued at $368,000 after purchasing an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 10.45% of the company’s stock.

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.