Tenaris (NYSE:TS) Stock Rating Lowered by StockNews.com

Tenaris (NYSE:TS) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Monday.

Several other research firms have also recently weighed in on TS. Piper Sandler lowered their price objective on Tenaris from $43.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Morgan Stanley lowered Tenaris from an “overweight” rating to an “underweight” rating and set a $40.00 price objective on the stock. in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $40.00.

Tenaris Trading Down 0.4 %

NYSE TS traded down $0.11 on Monday, hitting $28.07. 2,673,910 shares of the company were exchanged, compared to its average volume of 2,021,248. The firm has a 50 day moving average of $31.40 and a two-hundred day moving average of $34.13. The company has a market cap of $16.32 billion, a P/E ratio of 4.68 and a beta of 1.46. Tenaris has a 1-year low of $27.24 and a 1-year high of $40.72.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.59 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 16.10%. The company had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $170.13 million. During the same period last year, the company earned $1.90 earnings per share. The business’s revenue was down 18.5% compared to the same quarter last year. Research analysts anticipate that Tenaris will post 3.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Tenaris

A number of large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new position in Tenaris in the 2nd quarter valued at $32,000. Headlands Technologies LLC grew its holdings in Tenaris by 1,486.0% during the first quarter. Headlands Technologies LLC now owns 1,586 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 1,486 shares during the period. Janiczek Wealth Management LLC grew its holdings in Tenaris by 14.8% during the first 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. grew its holdings in Tenaris by 79.0% in the second quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company’s stock valued at $110,000 after purchasing an additional 1,583 shares during the period. Finally, Parallel Advisors LLC lifted its position in shares of Tenaris by 20.3% in 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 in the last quarter. 10.45% of the stock is currently owned by institutional investors.

Tenaris Company Profile

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.