Tenaris S.A. (NYSE:TS) Receives Consensus Recommendation of "Hold" from Analysts

Shares of Tenaris S.A. (NYSE:TS - Get Free Report) have been assigned an average rating of "Hold" from the five ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $39.00.

TS has been the subject of a number of recent research reports. Piper Sandler cut their price objective on Tenaris from $43.00 to $40.00 and set an "overweight" rating for the company in a research report on Monday, July 15th. 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. Finally, StockNews.com cut Tenaris from a "buy" rating to a "hold" rating in a research note on Monday, August 5th.

Tenaris Stock Up 0.3 %

Tenaris stock traded up $0.09 during trading hours on Wednesday, hitting $30.74. 2,344,449 shares of the company traded hands, compared to its average volume of 2,020,494. Tenaris has a 1-year low of $27.24 and a 1-year high of $40.72. The firm has a market cap of $17.87 billion, a P/E ratio of 5.12 and a beta of 1.43. The firm's 50-day simple moving average is $29.24 and its two-hundred day simple moving average is $32.87.

Tenaris (NYSE:TS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.97 by ($0.38). Tenaris had a net margin of 20.41% and a return on equity of 16.12%. The firm had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $170.13 million. During the same period in the previous year, the business posted $1.90 earnings per share. The business's revenue for the quarter was down 18.5% compared to the same quarter last year. On average, equities research analysts predict that Tenaris will post 3.18 earnings per share for the current year.

Hedge Funds Weigh In On Tenaris

Several hedge funds have recently bought and sold shares of TS. Allspring Global Investments Holdings LLC acquired a new position in Tenaris during the second quarter valued at approximately $32,000. Headlands Technologies LLC grew its stake in Tenaris by 1,486.0% in the 1st quarter. Headlands Technologies LLC now owns 1,586 shares of the industrial products company's stock valued at $62,000 after buying an additional 1,486 shares during the last quarter. Janiczek Wealth Management LLC raised its holdings in Tenaris by 14.8% in the 1st quarter. Janiczek Wealth Management LLC now owns 2,692 shares of the industrial products company's stock worth $106,000 after acquiring an additional 347 shares during the period. Blue Trust Inc. lifted its position in Tenaris by 79.0% during the 2nd quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company's stock worth $110,000 after acquiring an additional 1,583 shares during the last quarter. Finally, Parallel Advisors LLC boosted its holdings in Tenaris by 20.3% during the fourth quarter. Parallel Advisors LLC now owns 3,908 shares of the industrial products company's stock valued at $136,000 after acquiring an additional 660 shares during the period. 10.45% of the stock is owned by institutional investors and hedge funds.

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.