Tenaris (NYSE:TS) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Tenaris (NYSE:TS) from a hold rating to a buy rating in a report published on Friday.

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

Tenaris Stock Performance

TS opened at $31.73 on Friday. The firm has a market cap of $18.45 billion, a P/E ratio of 6.77 and a beta of 1.43. The business has a 50 day moving average price of $29.83 and a 200 day moving average price of $32.05. Tenaris has a twelve month low of $27.24 and a twelve month high of $40.72.

Tenaris (NYSE:TS) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.59 earnings per share 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 firm had revenue of $3.32 billion during the quarter, compared to analyst estimates of $170.13 million. During the same quarter in the previous year, the firm posted $1.90 earnings per share. Tenaris’s quarterly revenue was down 18.5% compared to the same quarter last year. As a group, analysts anticipate that Tenaris will post 3.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. O Shaughnessy Asset Management LLC raised its stake in shares of Tenaris by 93.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 39,128 shares of the industrial products company’s stock valued at $1,537,000 after purchasing an additional 18,935 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Tenaris by 3.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,782,729 shares of the industrial products company’s stock worth $70,009,000 after acquiring an additional 56,935 shares during the period. Manning & Napier Advisors LLC acquired a new stake in shares of Tenaris during the 2nd quarter valued at about $1,518,000. BNP Paribas Financial Markets increased its stake in Tenaris by 30.8% in the first quarter. BNP Paribas Financial Markets now owns 103,580 shares of the industrial products company’s stock valued at $4,068,000 after acquiring an additional 24,372 shares during the period. Finally, Sei Investments Co. raised its position in Tenaris by 133.2% in the first quarter. Sei Investments Co. now owns 63,694 shares of the industrial products company’s stock worth $2,501,000 after purchasing an additional 36,380 shares in the last quarter. Institutional investors and hedge funds own 10.45% of the company’s stock.

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.