Tenaris S.A. (NYSE:TS) Given Average Recommendation of “Hold” by Analysts

Tenaris S.A. (NYSE:TS) has earned an average recommendation of “Hold” from the five ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $38.67.

A number of research analysts have weighed in on TS shares. StockNews.com raised Tenaris from a “hold” rating to a “buy” rating in a report on Friday. Stifel Nicolaus reduced their price objective on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Finally, 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 research note on Monday, July 15th.

Tenaris Trading Up 0.3 %

TS opened at $31.73 on Friday. Tenaris has a 12 month low of $27.24 and a 12 month high of $40.72. The company has a market cap of $18.45 billion, a PE ratio of 5.29 and a beta of 1.43. The company has a 50 day moving average of $29.83 and a 200 day moving average of $32.00.

Tenaris (NYSE:TS) last posted 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 return on equity of 16.12% and a net margin of 20.41%. The company had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $170.13 million. During the same period in the previous year, the business earned $1.90 earnings per share. Tenaris’s revenue was down 18.5% on a year-over-year basis. Research analysts forecast that Tenaris will post 3.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tenaris

A number of institutional investors and hedge funds have recently bought and sold shares of TS. Allspring Global Investments Holdings LLC raised its position in Tenaris by 36.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,420 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 377 shares in the last quarter. Blue Trust Inc. increased its position in shares of Tenaris by 95.9% during the 3rd quarter. Blue Trust Inc. now owns 7,028 shares of the industrial products company’s stock valued at $214,000 after purchasing an additional 3,440 shares during the last quarter. Cornerstone Wealth Management LLC purchased a new position in shares of Tenaris during the 3rd quarter valued at about $614,000. Creative Planning lifted its position in Tenaris by 8.2% in the 3rd quarter. Creative Planning now owns 31,176 shares of the industrial products company’s stock worth $991,000 after buying an additional 2,352 shares during the last quarter. Finally, Capital Insight Partners LLC lifted its position in Tenaris by 11.1% in the 3rd quarter. Capital Insight Partners LLC now owns 112,277 shares of the industrial products company’s stock worth $3,569,000 after buying an additional 11,179 shares during the last quarter. 10.45% of the stock is owned by hedge funds and other institutional investors.

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.