Tenaris (NYSE:TS) Shares Down 5%

Tenaris SA (NYSE:TS) shares were down 5% on Wednesday . The stock traded as low as $24.08 and last traded at $24.13. Approximately 2,295,837 shares traded hands during trading, an increase of 6% from the average daily volume of 2,163,329 shares. The stock had previously closed at $25.40.

Several research analysts have weighed in on TS shares. Barclays reiterated a “buy” rating and set a $39.00 target price on shares of Tenaris in a report on Tuesday, February 26th. Zacks Investment Research lowered Tenaris from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. ValuEngine upgraded Tenaris from a “sell” rating to a “hold” rating in a report on Friday, March 22nd. Goldman Sachs Group lowered Tenaris from a “neutral” rating to a “sell” rating and set a $28.80 target price on the stock. in a report on Tuesday, March 26th. Finally, TheStreet upgraded Tenaris from a “c+” rating to a “b-” rating in a report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $37.88.

The company has a market cap of $14.47 billion, a PE ratio of 16.30, a PEG ratio of 1.40 and a beta of 1.07. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.13 and a quick ratio of 1.75.

Tenaris (NYSE:TS) last released its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.03. Tenaris had a return on equity of 7.46% and a net margin of 11.53%. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $2 billion. During the same quarter last year, the business posted $0.20 EPS. The company’s revenue for the quarter was up .3% on a year-over-year basis. As a group, equities research analysts anticipate that Tenaris SA will post 1.54 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rehmann Capital Advisory Group increased its position in shares of Tenaris by 292.0% in the first quarter. Rehmann Capital Advisory Group now owns 4,861 shares of the industrial products company’s stock valued at $137,000 after acquiring an additional 3,621 shares during the last quarter. Encompass Capital Advisors LLC acquired a new stake in shares of Tenaris in the first quarter valued at about $9,888,000. SEI Investments Co increased its position in shares of Tenaris by 17.0% in the first quarter. SEI Investments Co now owns 47,967 shares of the industrial products company’s stock valued at $1,355,000 after acquiring an additional 6,983 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Tenaris by 9.4% in the first quarter. Wellington Management Group LLP now owns 4,853,471 shares of the industrial products company’s stock valued at $137,110,000 after acquiring an additional 417,005 shares during the last quarter. Finally, Natixis acquired a new stake in shares of Tenaris in the first quarter valued at about $1,929,000. 14.40% of the stock is currently owned by hedge funds and other institutional investors.

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Tenaris Company Profile (NYSE:TS)

Tenaris SA, through its subsidiaries, produces and sells seamless and welded steel tubular products; and provides related services for the oil and gas industry, and other industrial applications. The company offers products for oil and gas drilling operations, such as casing and tubing products, premium connections, drill pipes, coiled tubing, hot-rolled and cold-drawn seamless tubes, perforating guns, tubular accessories, and non-tubular accessories and devices.

See Also: Initial Public Offering (IPO)

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