Tenaris (NYSE:TS) Stock Rating Lowered by Wall Street Zen

Tenaris (NYSE:TS) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Several other brokerages have also weighed in on TS. Barclays cut their target price on Tenaris from $82.00 to $80.00 and set an “overweight” rating on the stock in a research report on Monday, August 10th. TD Cowen upped their price target on Tenaris from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Zacks Research downgraded Tenaris from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Piper Sandler lifted their price objective on Tenaris from $56.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, May 18th. Finally, Weiss Ratings cut Tenaris from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $63.28.

Tenaris Stock Performance

Shares of TS stock opened at $53.58 on Friday. The firm has a market capitalization of $28.72 billion, a price-to-earnings ratio of 14.33, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. Tenaris has a one year low of $33.65 and a one year high of $64.60. The company has a 50 day moving average price of $56.69 and a 200 day moving average price of $56.58.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.16. Tenaris had a net margin of 15.88% and a return on equity of 11.14%. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter last year, the business earned $0.50 EPS. Tenaris’s revenue for the quarter was down 3.9% on a year-over-year basis. As a group, equities analysts forecast that Tenaris will post 3.71 EPS for the current fiscal year.

Institutional Trading of Tenaris

Several large investors have recently added to or reduced their stakes in TS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Tenaris during the fourth quarter worth about $48,000. Raymond James Financial Inc. acquired a new stake in shares of Tenaris in the second quarter valued at about $49,000. Advisory Services Network LLC acquired a new stake in shares of Tenaris in the third quarter valued at about $47,000. Global Retirement Partners LLC raised its holdings in shares of 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 valued at $58,000 after buying an additional 1,376 shares during the period. Finally, TD Private Client Wealth LLC raised its holdings in shares of Tenaris by 4,675.8% during the 4th 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 during the period. 10.45% of the stock is currently owned by institutional investors and hedge funds.

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.