Tenaris (NYSE:TS) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of Tenaris (NYSE:TS) from a buy rating to a hold rating in a research report report published on Saturday morning.

Several other analysts have also recently weighed in on the company. Piper Sandler boosted their price target on Tenaris from $56.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, May 18th. Weiss Ratings lowered shares of Tenaris from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 7th. TD Cowen lifted their target price on shares of Tenaris from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Barclays reduced their target price on shares of Tenaris from $82.00 to $80.00 and set an “overweight” rating on the stock in a report on Monday, August 10th. Finally, Morgan Stanley upgraded shares of Tenaris from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $53.00 to $65.00 in a research report on Wednesday, July 15th. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $63.28.

Tenaris Trading Up 1.8%

TS opened at $53.58 on Friday. The company has a market cap of $28.72 billion, a P/E ratio of 14.33, a PEG ratio of 1.29 and a beta of 0.85. The company’s 50 day moving average is $56.69 and its 200-day moving average is $56.49. Tenaris has a 1-year low of $33.65 and a 1-year high of $64.60.

Tenaris (NYSE:TS) last released its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.16. The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Tenaris had a net margin of 15.88% and a return on equity of 11.14%. The firm’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.50 EPS. On average, equities analysts forecast that Tenaris will post 3.71 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Tenaris during the 4th quarter worth approximately $48,000. Raymond James Financial Inc. acquired a new position in shares of Tenaris during the 2nd quarter valued at $49,000. Advisory Services Network LLC bought a new position in Tenaris during the third quarter worth $47,000. Global Retirement Partners LLC boosted its stake in Tenaris by 1,066.7% during the fourth quarter. Global Retirement Partners LLC now owns 1,505 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 1,376 shares in the last quarter. Finally, TD Private Client Wealth LLC grew its holdings in Tenaris by 4,675.8% in the fourth quarter. TD Private Client Wealth LLC now owns 1,576 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 1,543 shares during the period. 10.45% of the stock is owned by institutional investors and hedge funds.

Tenaris Company Profile

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value‑added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.