Tenaris (NYSE:TS) had its price target lowered by Bank of America from $16.20 to $14.40 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a neutral rating on the industrial products company’s stock.
A number of other research firms have also recently weighed in on TS. Barclays cut Tenaris from an equal weight rating to an underweight rating and reduced their price target for the stock from $15.00 to $10.00 in a report on Monday, August 10th. Piper Sandler upped their price target on Tenaris from $12.20 to $15.00 and gave the stock a neutral rating in a report on Tuesday, June 16th. UBS Group reaffirmed a neutral rating on shares of Tenaris in a report on Tuesday, May 26th. Goldman Sachs Group raised Tenaris from a sell rating to a buy rating and set a $17.00 price target for the company in a report on Monday, June 22nd. Finally, Morgan Stanley reduced their target price on Tenaris from $16.00 to $15.00 and set an overweight rating for the company in a report on Friday, August 7th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. Tenaris has a consensus rating of Hold and a consensus price target of $15.11.
NYSE TS opened at $10.71 on Tuesday. The company has a fifty day simple moving average of $11.79 and a two-hundred day simple moving average of $12.97. The stock has a market cap of $6.32 billion, a P/E ratio of -14.09 and a beta of 1.44. Tenaris has a 12-month low of $9.10 and a 12-month high of $23.77. The company has a current ratio of 3.30, a quick ratio of 1.94 and a debt-to-equity ratio of 0.04.
Tenaris (NYSE:TS) last released its quarterly earnings data on Wednesday, August 5th. The industrial products company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.01). The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.14 billion. Tenaris had a positive return on equity of 2.60% and a negative net margin of 6.91%. As a group, sell-side analysts forecast that Tenaris will post -0.32 earnings per share for the current year.
Several hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its position in Tenaris by 13.3% in the first quarter. PNC Financial Services Group Inc. now owns 6,559 shares of the industrial products company’s stock worth $80,000 after acquiring an additional 771 shares during the period. UBS Group AG grew its position in Tenaris by 21.4% in the second quarter. UBS Group AG now owns 5,768 shares of the industrial products company’s stock worth $75,000 after acquiring an additional 1,016 shares during the period. Bank of Montreal Can grew its position in Tenaris by 131.7% in the second quarter. Bank of Montreal Can now owns 2,076 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 1,180 shares during the period. Westpac Banking Corp grew its position in Tenaris by 0.8% in the first quarter. Westpac Banking Corp now owns 182,316 shares of the industrial products company’s stock worth $2,197,000 after acquiring an additional 1,513 shares during the period. Finally, Comerica Bank grew its position in Tenaris by 5.2% in the second quarter. Comerica Bank now owns 30,487 shares of the industrial products company’s stock worth $405,000 after acquiring an additional 1,514 shares during the period. Institutional investors and hedge funds own 11.95% of the company’s stock.
Tenaris Company Profile
Tenaris SA, through its subsidiaries, produces and sells seamless and welded steel tubular products; and provides related services for the oil and gas industry, and other industrial applications. The company offers products for oil and gas drilling operations, such as casing and tubing products, premium connections, drill pipes, coiled tubing, hot-rolled and cold-drawn seamless tubes, perforating guns, tubular accessories, and non-tubular accessories and devices.
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