Tenaris (NYSE:TS) Rating Lowered to Hold at Zacks Research

Tenaris (NYSE:TS) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

A number of other analysts have also recently commented on TS. Morgan Stanley raised Tenaris from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $53.00 to $65.00 in a research note on Wednesday, July 15th. Barclays reduced their price objective on shares of Tenaris from $82.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday. Weiss Ratings downgraded shares of Tenaris from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. TD Cowen upped their target price on shares of Tenaris from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Friday. Finally, Piper Sandler increased their target price on shares of Tenaris from $56.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, May 18th. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $63.28.

Tenaris Trading Down 1.5%

NYSE TS opened at $53.42 on Monday. The stock has a 50-day simple moving average of $57.29 and a 200 day simple moving average of $56.39. The company has a market capitalization of $28.63 billion, a PE ratio of 14.28, a P/E/G ratio of 1.29 and a beta of 0.85. Tenaris has a 12 month low of $33.65 and a 12 month high of $64.60.

Tenaris (NYSE:TS) last released its earnings results on Wednesday, August 5th. The industrial products company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.16. Tenaris had a return on equity of 11.15% and a net margin of 15.88%.The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the prior year, the firm posted $0.50 earnings per share. The company’s quarterly revenue was down 3.9% on a year-over-year basis. As a group, sell-side analysts predict that Tenaris will post 3.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tenaris

Hedge funds have recently modified their holdings of the business. Advisory Services Network LLC bought a new position in shares of Tenaris during the 3rd quarter valued at about $47,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Tenaris during the 4th quarter worth approximately $48,000. Raymond James Financial Inc. bought a new stake in Tenaris during the 2nd quarter worth approximately $49,000. Global Retirement Partners LLC raised its holdings in Tenaris by 1,066.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,505 shares of the industrial products company’s stock worth $58,000 after buying an additional 1,376 shares during the period. Finally, TD Private Client Wealth LLC lifted its stake in Tenaris by 4,675.8% in the fourth quarter. TD Private Client Wealth LLC now owns 1,576 shares of the industrial products company’s stock valued at $61,000 after buying an additional 1,543 shares in the last quarter. Institutional investors and hedge funds own 10.45% of the company’s stock.

Tenaris Company Profile

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value‑added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.