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

Tenaris (NYSE:TS) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

Several other brokerages also recently weighed in on TS. Stifel Nicolaus lowered their price target on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Piper Sandler lowered their target price on shares of Tenaris from $43.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $38.67.

Tenaris Trading Up 0.3 %

Shares of NYSE TS opened at $31.73 on Friday. The firm has a 50 day moving average of $29.83 and a 200 day moving average of $32.00. The firm has a market capitalization of $18.45 billion, a price-to-earnings ratio of 5.29 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) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.38). The business had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $170.13 million. Tenaris had a net margin of 20.41% and a return on equity of 16.12%. The business’s quarterly revenue was down 18.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.90 earnings per share. Sell-side analysts predict that Tenaris will post 3.2 EPS for the current year.

Institutional Trading of Tenaris

A number of hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC lifted its position in shares of Tenaris by 46.2% during the second quarter. Renaissance Technologies LLC now owns 2,592,044 shares of the industrial products company’s stock valued at $79,109,000 after buying an additional 819,500 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of Tenaris by 20,284.0% during the first quarter. Acadian Asset Management LLC now owns 550,979 shares of the industrial products company’s stock valued at $21,623,000 after buying an additional 548,276 shares during the last quarter. SIR Capital Management L.P. purchased a new stake in shares of Tenaris during the second quarter valued at about $9,680,000. Van ECK Associates Corp lifted its position in shares of Tenaris by 10.9% during the second quarter. Van ECK Associates Corp now owns 3,183,299 shares of the industrial products company’s stock valued at $97,154,000 after buying an additional 313,185 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Tenaris by 33.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,155,173 shares of the industrial products company’s stock valued at $40,154,000 after buying an additional 291,118 shares during the last quarter. 10.45% of the stock is owned by hedge funds and other 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.