Tenaris (NYSE:TS) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Tenaris (NYSE:TS) from a buy rating to a hold rating in a research note published on Saturday morning.

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

Tenaris Stock Down 0.3%

TS stock opened at $53.42 on Friday. The company’s 50-day moving average price is $56.50 and its two-hundred day moving average price is $56.64. The firm has a market cap of $28.63 billion, a P/E 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 issued its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.16. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.93 billion. Tenaris had a net margin of 15.88% and a return on equity of 11.14%. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.50 EPS. Equities analysts predict that Tenaris will post 3.71 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Tenaris during the 4th quarter valued at $48,000. Raymond James Financial Inc. acquired a new position in Tenaris in the 2nd quarter worth about $49,000. Advisory Services Network LLC bought a new position in Tenaris in the third quarter valued at about $47,000. Global Retirement Partners LLC raised its position in Tenaris by 1,066.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,505 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 1,376 shares during the last quarter. Finally, TD Private Client Wealth LLC boosted its stake in shares of Tenaris by 4,675.8% during 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 purchasing an additional 1,543 shares in the last quarter. 10.45% of the stock is currently owned by institutional investors.

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.