Tenaris (NYSE:TS - Get Free Report) was downgraded by stock analysts at StockNews.com from a "buy" rating to a "hold" rating in a report issued on Thursday.
TS has been the subject of a number of other reports. Piper Sandler increased their price objective on Tenaris from $48.00 to $50.00 and gave the company an "overweight" rating in a report on Tuesday, February 25th. Jefferies Financial Group raised Tenaris from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $35.00 to $47.00 in a research report on Monday, December 9th. Bank of America downgraded shares of Tenaris from a "neutral" rating to an "underperform" rating in a research note on Wednesday, January 29th. Kepler Capital Markets lowered Tenaris from a "buy" rating to a "hold" rating in a research note on Friday, January 17th. Finally, Barclays boosted their price objective on shares of Tenaris from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $46.00.
Read Our Latest Stock Report on Tenaris
Tenaris Stock Down 4.1 %
Shares of TS traded down $1.54 during trading hours on Thursday, hitting $35.70. The company had a trading volume of 3,839,961 shares, compared to its average volume of 1,616,406. The business has a fifty day moving average of $38.24 and a 200-day moving average of $35.23. The firm has a market cap of $20.75 billion, a price-to-earnings ratio of 9.89 and a beta of 1.43. Tenaris has a 12 month low of $27.24 and a 12 month high of $40.72.
Tenaris (NYSE:TS - Get Free Report) last released its earnings results on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.31. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. The company had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.71 billion. On average, equities analysts expect that Tenaris will post 3.14 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the company. Exencial Wealth Advisors LLC grew its holdings in Tenaris by 0.5% during the 4th quarter. Exencial Wealth Advisors LLC now owns 50,404 shares of the industrial products company's stock worth $1,905,000 after acquiring an additional 270 shares in the last quarter. Silvercrest Asset Management Group LLC raised its holdings in shares of Tenaris by 0.4% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 97,796 shares of the industrial products company's stock worth $3,696,000 after acquiring an additional 386 shares during the last quarter. Signaturefd LLC raised its holdings in Tenaris by 2.3% in the 4th quarter. Signaturefd LLC now owns 18,647 shares of the industrial products company's stock valued at $705,000 after acquiring an additional 418 shares during the last quarter. Covestor Ltd increased its holdings in shares of Tenaris by 37.2% during the 4th quarter. Covestor Ltd now owns 1,729 shares of the industrial products company's stock worth $65,000 after buying an additional 469 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Tenaris by 78.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company's stock worth $41,000 after purchasing an additional 478 shares in the last quarter. Institutional investors and hedge funds own 10.45% of the company's stock.
About Tenaris
(
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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.
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