Tenaris (NYSE:TS) Share Price Crosses Below Two Hundred Day Moving Average – Time to Sell?

Tenaris S.A. (NYSE:TS) passed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $56.18 and traded as low as $55.33. Tenaris shares last traded at $55.8710, with a volume of 1,424,286 shares.

Key Stories Impacting Tenaris

Here are the key news stories impacting Tenaris this week:

• Positive Sentiment: Barclays raised its price target to $88 from $80 and kept an Overweight rating. The new target implies substantial upside from the reference price cited in the report. Barclays rating information
• Positive Sentiment: Tenaris won a tubular-supply package for the Cronos gas development in the Eastern Mediterranean. The award adds project demand, although the reported item does not disclose its financial value. Cronos project award
• Positive Sentiment: Q3 results topped expectations, and management signaled stronger near-term growth. EPS was $1.01 versus the $0.81 consensus, while revenue of $3.10 billion exceeded estimates of $3.03 billion and rose 4.2% year over year. Tenaris expects roughly 10% Q4 revenue growth and an approximately 25% EBITDA margin, with a partial recovery in the Middle East contributing to the outlook. Q4 outlook
• Neutral Sentiment: Piper Sandler reaffirmed its Hold rating. This offers a more cautious counterpoint to Barclays’ upgrade in price target. Piper Sandler rating

Analyst Ratings Changes

Several analysts recently commented on the stock. Zacks Research cut shares of Tenaris from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Wall Street Zen lowered shares of Tenaris from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings downgraded shares of Tenaris from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, October 6th. Morgan Stanley lifted their price objective on Tenaris from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 14th. Finally, TD Cowen raised 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. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $62.59.

Tenaris Stock Performance

The firm’s 50-day moving average price is $57.11 and its two-hundred day moving average price is $56.34. The firm has a market capitalization of $31.52 billion, a price-to-earnings ratio of 15.49, a price-to-earnings-growth ratio of 1.65 and a beta of 0.89.

Tenaris (NYSE:TS) last posted its quarterly earnings data on Wednesday, November 4th. The industrial products company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.20. The company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.03 billion. Tenaris had a net margin of 15.88% and a return on equity of 11.14%. The company’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $0.85 earnings per share. As a group, equities research analysts anticipate that Tenaris S.A. will post 3.76 EPS for the current year.

Institutional Investors Weigh In On Tenaris

Institutional investors have recently made changes to their positions in the stock. Lido Advisors LLC lifted its stake in Tenaris by 1.6% in the third quarter. Lido Advisors LLC now owns 11,512 shares of the industrial products company’s stock valued at $635,000 after buying an additional 184 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Tenaris by 0.5% in the first quarter. Lazard Asset Management LLC now owns 58,252 shares of the industrial products company’s stock valued at $3,389,000 after buying an additional 284 shares during the period. Versant Capital Management Inc increased its position in shares of Tenaris by 6.3% during the second quarter. Versant Capital Management Inc now owns 5,580 shares of the industrial products company’s stock worth $310,000 after acquiring an additional 332 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of Tenaris by 1.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 24,383 shares of the industrial products company’s stock worth $1,353,000 after acquiring an additional 341 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in shares of Tenaris by 116.0% during the second quarter. Allworth Financial LP now owns 661 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 355 shares during the period. 10.45% of the stock is owned by institutional investors and hedge funds.

Tenaris Company Profile

Tenaris SA (NYSE: TS) is a global manufacturer and supplier of steel tubular products and related services. The company primarily serves the energy industry, producing seamless and welded steel pipes used in oil and natural gas exploration, production, transportation and processing. Its offerings include oil country tubular goods, line pipe, premium connections, coiled tubing and sucker rods.

Tenaris also supplies pipes for industrial and mechanical applications, including products used in power generation, automotive manufacturing, construction and other specialized industries.