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

StockNews.com lowered shares of Tenaris (NYSE:TS - Free Report) from a buy rating to a hold rating in a research report report published on Saturday.

Other equities research analysts also recently issued research reports about the stock. Stifel Nicolaus reduced their target price 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. Piper Sandler reduced their price target on shares of Tenaris from $43.00 to $40.00 and set an "overweight" rating on the stock in a research report on Monday, July 15th. One research 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, Tenaris presently has a consensus rating of "Hold" and an average target price of $38.67.

Tenaris Stock Up 2.5 %

TS traded up $0.77 during midday trading on Friday, reaching $32.16. 1,284,141 shares of the company's stock were exchanged, compared to its average volume of 1,972,330. The business has a 50-day simple moving average of $30.20 and a two-hundred day simple moving average of $31.77. The firm has a market capitalization of $18.70 billion, a price-to-earnings ratio of 6.86 and a beta of 1.43. Tenaris has a one year low of $27.24 and a one year high of $40.72.

Tenaris (NYSE:TS - Get Free Report) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.38). Tenaris had a return on equity of 16.12% and a net margin of 20.41%. The company had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $170.13 million. During the same quarter last year, the business earned $1.90 EPS. Tenaris's quarterly revenue was down 18.5% compared to the same quarter last year. As a group, research analysts anticipate that Tenaris will post 3.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Tenaris

A number of hedge funds have recently added to or reduced their stakes in TS. Allspring Global Investments Holdings LLC bought a new position in Tenaris in the 2nd quarter valued at $32,000. Headlands Technologies LLC boosted its holdings in Tenaris by 1,486.0% in the first quarter. Headlands Technologies LLC now owns 1,586 shares of the industrial products company's stock valued at $62,000 after acquiring an additional 1,486 shares during the last quarter. Blue Trust Inc. increased its position in Tenaris by 79.0% in the second quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company's stock worth $110,000 after purchasing an additional 1,583 shares during the period. Naples Global Advisors LLC bought a new stake in Tenaris during the 2nd quarter worth about $233,000. Finally, Capstone Investment Advisors LLC bought a new stake in Tenaris during the 1st quarter worth about $257,000. 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.