Tenaris (NYSE:TS) Upgraded to Buy by StockNews.com

by · The Markets Daily

StockNews.com upgraded shares of Tenaris (NYSE:TS – Free Report) from a hold rating to a buy rating in a research report sent to investors on Friday morning.

TS has been the subject of several other reports. Piper Sandler reduced their price objective on Tenaris from $43.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Stifel Nicolaus reduced their price objective on Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $38.67.

Check Out Our Latest Research Report on Tenaris

Tenaris Price Performance

TS opened at $31.81 on Friday. The business has a 50 day simple moving average of $29.91 and a 200-day simple moving average of $31.89. The stock has a market capitalization of $18.49 billion, a P/E ratio of 6.78 and a beta of 1.43. Tenaris has a 12 month low of $27.24 and a 12 month high of $40.72.

Tenaris (NYSE:TS – Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.38). The business had revenue of $3.32 billion during the quarter, compared to analyst estimates of $170.13 million. Tenaris had a net margin of 20.41% and a return on equity of 16.12%. The firm’s quarterly revenue was down 18.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.90 earnings per share. Research analysts anticipate that Tenaris will post 3.25 EPS for the current year.

Hedge Funds Weigh In On Tenaris

Institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of Tenaris in the second quarter worth $32,000. Headlands Technologies LLC grew its position in shares of Tenaris by 1,486.0% in the first quarter. Headlands Technologies LLC now owns 1,586 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 1,486 shares during the period. Janiczek Wealth Management LLC grew its position in shares of Tenaris by 14.8% in the first quarter. Janiczek Wealth Management LLC now owns 2,692 shares of the industrial products company’s stock valued at $106,000 after purchasing an additional 347 shares during the period. Blue Trust Inc. grew its position in shares of Tenaris by 79.0% in the second quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company’s stock valued at $110,000 after purchasing an additional 1,583 shares during the period. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of Tenaris in the first quarter valued at $257,000. 10.45% of the stock is owned by institutional investors and hedge funds.

About Tenaris

(Get Free Report)

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.

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