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

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

A number of other research analysts also recently issued reports on TS. Stifel Nicolaus reduced their price objective on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating on the stock in a research report 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 equities 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $38.67.

Tenaris Price Performance

Shares of Tenaris stock opened at $32.16 on Friday. Tenaris has a one year low of $27.24 and a one year high of $40.72. The business’s 50 day simple moving average is $30.13 and its two-hundred day simple moving average is $31.83. The stock has a market capitalization of $18.70 billion, a P/E ratio of 6.86 and a beta of 1.43.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.38). The firm had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $170.13 million. Tenaris had a net margin of 20.41% and a return on equity of 16.12%. The company’s quarterly revenue was down 18.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.90 EPS. Sell-side analysts expect that Tenaris will post 3.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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