Brokerages Set Tenaris S.A. (NYSE:TS) Price Target at $39.00

Shares of Tenaris S.A. (NYSE:TS) have been given an average rating of “Hold” by the five ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $39.00.

A number of research analysts have weighed in on the stock. Piper Sandler dropped their price objective on shares of Tenaris from $43.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. StockNews.com lowered shares of Tenaris from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Finally, Stifel Nicolaus dropped their price objective on shares of Tenaris from $42.00 to $37.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new position in shares of Tenaris during the second quarter valued at about $32,000. Headlands Technologies LLC increased 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 buying an additional 1,486 shares during the last quarter. Janiczek Wealth Management LLC increased 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 buying an additional 347 shares during the last quarter. Blue Trust Inc. increased its holdings in Tenaris by 79.0% during the second quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company’s stock worth $110,000 after buying an additional 1,583 shares during the last quarter. Finally, Parallel Advisors LLC increased its holdings in Tenaris by 20.3% during the fourth quarter. Parallel Advisors LLC now owns 3,908 shares of the industrial products company’s stock worth $136,000 after buying an additional 660 shares during the last quarter. 10.45% of the stock is owned by institutional investors.

Tenaris Stock Up 2.4 %

Shares of NYSE TS opened at $31.57 on Wednesday. The firm has a market cap of $18.35 billion, a PE ratio of 5.22 and a beta of 1.43. Tenaris has a 12-month low of $27.24 and a 12-month high of $40.72. The company’s fifty day simple moving average is $29.19 and its 200 day simple moving average is $32.84.

Tenaris (NYSE:TS) last issued 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 company had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $170.13 million. Tenaris had a return on equity of 16.12% and a net margin of 20.41%. The firm’s revenue was down 18.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.90 earnings per share. On average, equities analysts predict that Tenaris will post 3.18 earnings per share for the current year.

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.